‘Bootstrapping’: the investment decision-making process in small firms

Ekanem, Ignatius U.

doi:10.1016/j.bar.2005.04.004

Cited by 33 publications

(43 citation statements)

References 26 publications

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“…It also supports recent research on the investing role of CEOs in small businesses (Ekanem, 2005). We can say that they are also important in predicting successful implementation of CBIS in small business.…”

Section: Discussionsupporting

confidence: 63%

“…Positive skewness was most evident for the Cost Benefit Techniques scale. The reality is that these businesses do not place much emphasis on management applications and they do not employ cost benefit techniques as reported by other researchers (e.g., Ekanem, 2005). Negative skewness was evident in the Operational Reasons and User Satisfaction scales.…”

Section: Discussionmentioning

confidence: 58%

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Modelling the interactions among factors that influence successful computerisation of small business

Fogarty¹,

Armstrong²

2009

AJIS

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Identification of factors that contribute to computer-based information systems success is of crucial importance to the small business sector. Central to this process is the task of building conceptual models of interacting variables that contribute to success. The present study used structural equation modeling to test a model that embraced four broad groups of variables, including background characteristics of the organization, background characteristics of the Chief Executive Officer, decision making processes, and a cluster of variables relating to the performance of the system itself. The outcome variable was user satisfaction. A self-report instrument called the Implementation Survey for Computer Based Information Systems (IS-CBIS) was used to collect data from 171 regional small businesses located on the East Coast of Australia. Results showed that, although the performance of the system was the immediate determinant of satisfaction, the background variables had both direct and indirect (mediated) effects on user satisfaction. These findings emphasise the importance of going beyond the immediate surrounds of a computing environment if one wishes to explain the factors that influence CBIS success in small businesses.

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Section: Discussionsupporting

confidence: 63%

Section: Discussionmentioning

confidence: 58%

Modelling the interactions among factors that influence successful computerisation of small business

Fogarty¹,

Armstrong²

2009

AJIS

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“…The case study firms were selected from the printing and clothing industries, because previous research (e.g. North et al, 1997;Ekanem, 2002Ekanem, , 2005 had emphasised their different technology bases and different levels of investment expenditure. This has potential implications for financial management issues faced by owner-managers of these industries.…”

Section: Introductionmentioning

confidence: 99%

Liquidity management in small firms: a learning perspective

Ekanem

2010

Journal of Small Business and Enterprise Development

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Purpose -This paper aims to focus on liquidity management in small firms and how this may be best met. It seeks to present results from eight case study firms to demonstrate different types of learning in small firms. Design/methodology/approach -The paper uses a qualitative methodology that involves in-depth, semi-structured interviews and direct observation, conducted longitudinally in eight case study companies. Findings -The findings suggest that liquidity management is either based on owner-manager past experiences, experiences of others or is strongly influenced by industry norms, which are shared rules within the industry, and not based on the calculation of costs and benefits of particular causes of action.Research limitations/implications -The study is limited to the extent to which it can be generalised to a wider population of small firms. The main implication is that policy makers should facilitate networking opportunities where owner-managers can interact with external advisors. Originality/value -The originality and value of the paper is that it conceptualises liquidity management in small firms as a learning process utilising closed and open loop learning.

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“…They were based on survey data (Bond et al 2003;Enoma and Mustapha 2010;Gill et al 2012;Karim and Azman-Sainib 2012;Masini and Menichetti 2013;Morgan 1987Morgan , 1992Newell and Seabrook 2006), annual accounts data (Liu and Pang 2009), personal interviews (Ekanem 2005;Newell and Seabrook 2006) and direct observation (Ekanem 2005). The methods used comprise a dynamic neoclassical investment function based on system of generalised method of moments estimations (Karim and Azman-Sainib 2012;Liu and Pang 2009), principal component analysis (Enoma and Mustapha 2010;Gill et al 2012;Masini and Menichetti 2013;Tsado and Gunu 2011), multi-criteria decision-making procedure of the analytic hierarchy process (Newell and Seabrook 2006), and econometric analysis (Hogan and Lewis 2005;Masini and Menichetti 2013), to name only a few.…”

Section: Introductionmentioning

confidence: 99%

“…Because they have limited access to capital markets, they are forced to rely more on internal funds such as, for example, personal savings or funds borrowed from relatives or friends (Gill et al 2012). Furthermore, to meet these needs and to assess the risk of investment, they apply different types of financial bootstrapping methods (Ekanem 2005;Winborg and Landstrom 2000). Large companies, on the other hand, have better access to external funding (collateral, credit, etc.…”

Section: Introductionmentioning

confidence: 99%

External Factors Affecting Investment Decisions of Companies

Białowolski

Węziak‐Białowolska

2014

Economics

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In this paper, we attempt to investigate the importance of certain external factors on the investment decisions made by Polish companies. With the use of data from the tailor-made Survey on Receivables, we (1) examine factors influencing investment decisions of companies in Poland; (2) assess the relation between branch, company size and investment factors; (3) evaluate the importance of the investment factors; and (4) determine the relative influence of these factors on the company-level investment reductions. The results show that first, although the problem of payment delays is the most important single issue determining the investment decisions of Polish companies, its importance decreases when analysed simultaneously with other issues. Second, among the indicators selected for an assessment of investment decisions, two driving forces determine the investment decisions of Polish companiesnamely, macroeconomic factors and law-related factors, with the relative importance of the former lower than the latter. Third, there is a positive association between the importance of each of the two factors and the actual investment reductions, implying that among companies facing higher investment reductions, the importance of macroeconomic and law-related factors is higher. JEL D92 G11 G31

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‘Bootstrapping’: the investment decision-making process in small firms

Cited by 33 publications

References 26 publications

Modelling the interactions among factors that influence successful computerisation of small business

Modelling the interactions among factors that influence successful computerisation of small business

Liquidity management in small firms: a learning perspective

External Factors Affecting Investment Decisions of Companies

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