Assets specificity and financing sources of manufacturing companies

Joseph Herman TIONA Wamba (), Thomas AMOUGOU Oyono () and Frank Éric Tchanou ()

Journal of Academic Finance, 2023, vol. 14, issue 1, 46-63

Abstract:

Purpose : This article aims to analyze the effects of holding specific assets on the choice of financing methods by Cameroonian manufacturing companies. \n

Approach : An exploratory study made it possible to characterize the specific assets of the prospected entities. The verification of research hypotheses required a questionnaire administered to some industrial companies. The data collected was subjected to multiple linear regression analyses. \n

Results: Reputation has a positive and significant impact on capital growth. On the other hand, human capital and R&D have a negative impact on debt financing, unlike outsourcing. \n

Originality : The paper has the originality of examining the specificity of assets in the context of SME. It highlights the reality that assets specificity influence funding sources.

JEL-codes: G3 M1 N8 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:jaf:journl:v:14:y:2023:i:1:n:620

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