How are small firms financed? Evidence from small business investment companies

Elijah Brewer, Hesna Genay, William E. Jackson and Paula R. Worthington

Economic Perspectives, 1996, vol. 20, issue Nov, 2-18

Abstract: This article examines the investment decisions of small business investment companies (SBICs). The results indicate that potential costs of contracting among SBICs, small firms, and others may have significant effects on how small firms are funded. For instance, projects generating tangible assets and firms operating in industries with few growth opportunities are more likely to be financed with debt than nondebt.

Keywords: Small business; Venture capital (search for similar items in EconPapers)
Date: 1996
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