The Alternative to Assuming 'Rational' Use of Financial Information within Small Firms
Since emerging as a separate domain, research concerned with financial management in small firms has proceeded on a foundation of assumptions, primarily influenced by economics, which do not appear to be in accord with reality. Two fundamental assumptions are reviewed in this paper and the validity of each is questioned. These are that the small firm owner/manager is a rational economic decision maker and must have access to financial information to properly engage in decision making activities. Alternative interpretations, associated with the purposive action assumptions of the Austrian school of economic thought, are proposed as a more appropriate foundation for the development of theories of small firm financial management.
Volume (Year): 2 (1993)
Issue (Month): 2 (Spring)
|Contact details of provider:|| Postal: |
Web page: http://bschool.pepperdine.edu/jef
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kaish, Stanley & Gilad, Benjamin, 1991. "Characteristics of opportunities search of entrepreneurs versus executives: Sources, interests, general alertness," Journal of Business Venturing, Elsevier, vol. 6(1), pages 45-61, January.
- Cheah, Hock-Beng, 1990. "Schumpeterian and Austrian entrepreneurship: Unity within duality," Journal of Business Venturing, Elsevier, vol. 5(6), pages 341-347, November.
- Smith, Ken G. & Gannon, Martin J. & Grimm, Curtis & Mitchell, Terence R., 1988. "Decision making behavior in smaller entrepreneurial and larger professionally managed firms," Journal of Business Venturing, Elsevier, vol. 3(3), pages 223-232.
When requesting a correction, please mention this item's handle: RePEc:pep:journl:v:2:y:1993:i:2:p:163-174. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Craig Everett)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.