A study of the process of the financing decision in small business by – demand side through – the manager

Étude du processus de la décision de financement dans la petite entreprise par – la demande à travers – le dirigeant

Médéssè Carol Frédy Gandegnon ()
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Médéssè Carol Frédy Gandegnon: LISST - Laboratoire Interdisciplinaire Solidarités, Sociétés, Territoires - EHESS - École des hautes études en sciences sociales - UT2J - Université Toulouse - Jean Jaurès - UT - Université de Toulouse - ENSFEA - École Nationale Supérieure de Formation de l'Enseignement Agricole de Toulouse-Auzeville - CNRS - Centre National de la Recherche Scientifique - INP - PURPAN - Ecole d'Ingénieurs de Purpan - Toulouse INP - Institut National Polytechnique (Toulouse) - UT - Université de Toulouse, IRGO - Institut de Recherche en Gestion des Organisations - UB - Université de Bordeaux - Institut d'Administration des Entreprises (IAE) - Bordeaux, INP - PURPAN - Ecole d'Ingénieurs de Purpan - Toulouse INP - Institut National Polytechnique (Toulouse) - UT - Université de Toulouse

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Abstract: The financing of small businesses (SBs) remains a key concern, which this article addresses through the study of the poorly addressed topic of the financing decision through the demand-side. The article is based on the importance of the role of the manager as a decision maker. Taking a step aside from the work in classical entrepreneurial finance, this research focuses on the building of the decision, and is based on a processual approach. To this end, the theoretical framework is based on the initial hypothesis of a manager's choice based on a proxemic logic. Seven cases are then studied empirically to explore this hypothesis, using developments from strategic decision-making in SMEs. The results reveal the existence of a behavioral spectrum ranging from proactivity to an opportunistic wait-and-see attitude among executives of SMEs. Decision-making can be modeled in four fundamental stages. They also show a limitation of the historical three-dimensional model to study the financing decision in SMEs. Finally, they suggest embracing the proxemics approach as a heuristic for small business management, particularly with respect to financing decisions.

Keywords: Financing; Small business; Demand-side; Proximity; Case study (search for similar items in EconPapers)
Date: 2023-04-27
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Published in Revue Internationale PME, 2023, 36 (1), pp.49-70. ⟨10.7202/1098938ar⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04816265

DOI: 10.7202/1098938ar

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