Finance and sales growth at the firms level in Iran: Does type of spending matter?

Iman Cheratian, Saleh Goltabar, Hassan Gholipour Fereidouni and Mohammad Reza Farzanegan ()

Research in International Business and Finance, 2024, vol. 67, issue PB

Abstract: This study examines the relationship between access to finance and growth in sales for micro, small, and medium enterprises (MSMEs) in Iran. We use data from 486 firms in 5 provinces, and our findings indicate that external financing positively affects sales growth for MSMEs. The results suggest financing for research and development expenditures, production diversification, new employment, and advertising can significantly increase sales growth. We also find that spending on intellectual property, labor training, and land and building acquisition negatively moderates the relationship between finance and sales growth.

Keywords: Finance-sales growth nexus; Micro, small, and medium enterprises; Iranian economy; External financing (search for similar items in EconPapers)
JEL-codes: G21 G32 G38 O16 O53 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0275531923002684
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:67:y:2024:i:pb:s0275531923002684

DOI: 10.1016/j.ribaf.2023.102142

Access Statistics for this article

Research in International Business and Finance is currently edited by T. Lagoarde Segot

More articles in Research in International Business and Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().