The Impact of Owner and Firm Characteristics on External Capital Acquisition at Start-up: Empirical Evidences from Swedish Data

Abbasian, Saeid; Yazdanfar, Darush

doi:10.5539/ibr.v5n12p19

Cited by 4 publications

(3 citation statements)

References 32 publications

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“…Human capital was measured with four items adapted from Coleman (2007). Similarly, social capital was measured with four items adapted from Lechner et al (2006), while five measures of financial capital were taken from Abbasian and Yazdanfar (2012). We assessed the EO dimensions of risk-taking, proactiveness and innovativeness using a nine-item scale based on Miller (1983) conceptualization, and firm performance was conceptualized from a financial viewpoint and measured by four items adapted from Khan and Quaddus (2015a, 2015b).…”

Section: Methodsmentioning

confidence: 99%

Poor resource capital of micro-entrepreneurs: the mediating role of entrepreneurial orientation

Khan

Hossain²,

Jahed

et al. 2021

MRR

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Purpose Understanding the micro-start-up resources and its relationships with entrepreneurial orientation and performance is unique because it operates a business in a poor resource setting. However, poor resource settings of micro-start-up are not adequately examined into the literature in relation to entrepreneurial orientation and performance. Therefore, grounded on resource-based view, this paper aims to attempt to examine the relationships between resource capital, entrepreneurial orientation and performance in a developing country context. Design/methodology/approach To establish this, the authors conducted a survey among 180 micro-entrepreneurs from Bangladesh and analyzed the data using the partial least squares structural equation modeling (PLS-SEM) approach. Findings The results demonstrate the mediating role of entrepreneurial orientation on the relationship between human and financial resources and performance, while having partial mediating influence between social resource and performance, therefore indicating the importance of resources for determining business outcomes for micro-entrepreneurs. Research limitations/implications These results extend theoretical explanations of micro-entrepreneurship within the poor resource setting context. The findings have implications for identifying micro-firms likely to succeed for the purpose of strategic allocation of resources and supports; they also provide future research avenues. Originality/value To the best of the authors’ knowledge, no previous study has established that entrepreneurial orientation plays a critical and mediating role between resource capital and micro-firm performance in a poor resource setting.

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Section: Methodsmentioning

confidence: 99%

Poor resource capital of micro-entrepreneurs: the mediating role of entrepreneurial orientation

Khan

Hossain²,

Jahed

et al. 2021

MRR

View full text Add to dashboard Cite

show abstract

“…In general, financial capital in terms of financing mix and capital structure are the determinants of microfirm performance (e.g. Yazdanfar, 2012;Abbasian and Yazdanfar, 2012). However, we argue that it is not only the diverse financing mix and a good capital structure that determine performance.…”

Section: Introductionmentioning

confidence: 75%

“…The scale items were selected and modified for the survey questionnaire following the findings of the qualitative field study. Three items were adapted from Abbasian and Yazdanfar (2012) to measure the financing mix construct. Similarly, three items were taken from Sirmon and Hitt (2003) to measure the capital structure construct, while three measures of financial environment were adapted from Gnyawali and Fogel (1994).…”

Section: Survey Instrument and Measuresmentioning

confidence: 99%

Financial bootstrapping of informal micro-entrepreneurs in the financial environment

Khan

Quaddus

2020

IJSSP

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PurposeThis study first examines whether the capital structure served as a mediator between financing mix and firm performance. Furthermore, the authors investigate whether this mediation effect was moderated by the financial environment. Grounded in the pecking order theory (POT) and dynamic capability view (DCV), this study extends these concepts by configuring all links to a moderated mediation model.Design/methodology/approachThe study uses the structural equation modelling (SEM) approach and multiple regression analysis using “Hayes PROCESS macro” to empirically examine the model using data collected from 384 informal micro-firms operating in Bangladesh.FindingsIn the mediation analyses, results found that capital structure was a mediator in the link between financing mix and firm performance. In further moderated mediation analyses, outcomes confirmed that this mediation effect was moderated by the financial environment.Research limitations/implicationsThis investigation shows paths for future research including implications for theory advancement and intervention development.Originality/valueThis investigation offers the first step towards examining a moderated mediation effect, using POT and DCV, of the relationship between financial environment, financing mix, capital structure and firm performance.

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Capital Structure in Start-up Firms in the Conditions of the Czech Economy

Chmelíková¹,

Somerlíková²

2014

Acta Univ. Agric. Silvic. Mendelianae Brun.

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The aim of this article is to characterise the form of capital structures in start-up companies in the Czech economy and to identify what determines them. The choice of theme for this research was motivated by the important role that start-up companies have played in the development of economies especially in its contribution to employment, while having a low empirical understanding of the structure of capital resources of the fi rms. In this contribution, we have managed to identify the average form of the capital structures of start-up companies in the Czech economy. Moreover, they were in keeping with the Trade-Off Theory of Capital Structure testing the factors determining the composition of the capital resources of the fi rms. However it was only possible to empirically support the conclusions in part.

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The Impact of Owner and Firm Characteristics on External Capital Acquisition at Start-up: Empirical Evidences from Swedish Data

Cited by 4 publications

References 32 publications

Poor resource capital of micro-entrepreneurs: the mediating role of entrepreneurial orientation

Poor resource capital of micro-entrepreneurs: the mediating role of entrepreneurial orientation

Financial bootstrapping of informal micro-entrepreneurs in the financial environment

Capital Structure in Start-up Firms in the Conditions of the Czech Economy

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