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What Explains Small and Medium-Sized Business Groups? Comparing the Financial and the Entrepreneurial Perspective

Author

Listed:
  • Donato Iacobucci
  • Enrico Guzzini
  • Peter Rosa

Abstract

The paper contrasts two theoretical perspectives that account for business group formation in the small business sector: the financial perspective and the organizational/entrepreneurial perspective. Two main hypotheses are derived from these perspectives: the first hypothesis concerns capital and knowledge intensity required by the business; the second one refers to the entrepreneur’s ownership of firms in business groups. The empirical results show that the financial and the organizational perspectives are both relevant in explaining business groups in the small business sector, but the entrepreneurial perspective is more appropriate when explaining the ownership structure of firms within an entrepreneur’s business group.

Suggested Citation

  • Donato Iacobucci & Enrico Guzzini & Peter Rosa, 2015. "What Explains Small and Medium-Sized Business Groups? Comparing the Financial and the Entrepreneurial Perspective," Review of Economics and Institutions, Università di Perugia, vol. 6(1).
    • Handle: RePEc:pia:review:v:6:y:2015:i:1:n:3
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    More about this item

    Keywords

    business groups; small businesses; portfolio entrepreneurs; ownership; diversification;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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