EconPapers    
Economics at your fingertips  
 

On the Theory of Finance for Privately Held Firms

James S. Ang
Additional contact information
James S. Ang: Florida State University

Journal of Entrepreneurial Finance, 1992, vol. 1, issue 3, 185-203

Abstract: This paper is a first attempt at differentiating the problems of finance of the privately held small businesses from their larger counterparts. Small businesses, though not concerned with the problems and opportunities associated with publicly traded firms, have different types of complexities, such as shorter expected life, presence of estate tax, intergenerational transfer problems, and prevalence of implicit contracts. Some standard problems like agency and asymmetric information are also more complex. The relatively high transaction costs faced by small businesses in all types of financial decisions also preclude a sizable subset of available choices.

Keywords: Finance; Theory of Finance; Privately-Held; Small Business (search for similar items in EconPapers)
JEL-codes: G32 L25 G35 G31 (search for similar items in EconPapers)
Date: 1992
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (40) Track citations by RSS feed

Downloads: (external link)
http://jefsite.org/RePEc/pep/journl/jef-1992-01-3-a-ang.pdf (application/pdf)

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:pep:journl:v:1:y:1992:i:3:p:185-203

Access Statistics for this article

More articles in Journal of Entrepreneurial Finance from Pepperdine University, Graziadio School of Business and Management Contact information at EDIRC.
Series data maintained by Craig Everett ().

 
Page updated 2017-09-29
Handle: RePEc:pep:journl:v:1:y:1992:i:3:p:185-203