The Foundations of Small Business Enterprise: An Entrepreneurial Analysis of Small Firm Inception and Growth (Routledge Studies in Entrepreneurship and Small Business)

This volume is an excellent addition to Routledge's Studies in Small Business series. In this extended and novel entrepreneurial analysis of small firm inception and growth, a leading authority in the field develops a new kind of ‘micro-micro'analysis, applying rigorous methods from economics, accounting and finance to gain a deeper understanding of micro-firms. Reid examines performance, hierarchy, capital structure, monitoring and control, flexibility, innovation and information systems. Using statistical, econometric and qualitative methods of empirical research, Foundations of Small Business Enterprise tracks and analyses the evolution of 150 small firms from their early years through to maturity. This title will appeal to a wide range of students, specialists and practitioners in economics, accounting and finance. The Foundations Of Small Business Enterprise Provides An Extended, And Novel, Entrepreneurial Analysis Of Small Firm Inception And Growth. Gavin C. Reid Develops A New Kind Of 'micro-micro' Analysis, Applying Rigorous Methods From Economies, Accounting And Finance To Gain A Deeper Understanding Of Micro-firms, By Examining Their Performance, Hierarchy, Strategy, Capital Structure, Monitoring And Control, Flexibility, Innovation, And Information Systems. Using Statistical, Econometric And Qualitative Methods Of Empirical Research, The Foundations Of Small Business Enterprise Tracks And Analyses The Evolution Of Firms From Their Early Years Through To Maturity.--jacket. Small Firm Inception And Growth -- Fieldwork And Database -- Main Quantitative Features Of The Database -- Growth And Profitability Of Micro-firms -- Funding Shortages -- Modelling Financial Structure -- Capital Structure At Inception And The Short-run Performance Of Micro-firms -- Trajectories Of Financial Structure -- Performance Rankings And Cluster Analysis / (with Julia A. Smith) -- Performance And Business Strategy / (with Julia A. Smith) -- Actions And Outcomes -- Information And Performance -- Contingency And Information System Development / (with Julia A. Smith) -- Small Firm Type, Organisational Form, And Contingency / (with Julia A. Smith) -- Flexibility, Growth, And Survival / (with Bernadette Power) -- Scale Flexibility -- Market Niche Flexibility -- Flexibility, Firm-specific Turbulence, And The Performance Of The Long-lived Small Firm / (with Bernadette Power) -- Appendix On Instrumentation -- Administererd Questionnaire 1 -- Administered Questionnaire 4. List Of Figures -- List Of Tables -- Preface -- Part 1: Background -- Ch. 1 Small Firm Inception And Growth -- Introduction -- Sampling -- Summary Evidence From First Year -- Summary Evidence From Second Year -- Summary Evidence From Third Year -- Summary Evidence From Fourth Year -- The Structure Of This Book -- Conclusion -- End Notes To Chapter 1 -- Ch. 2. Database Construction And Use -- 2.1 Introduction -- 2.2 Fieldwork Activity -- 2.3 The Sample And Population -- 2.4 The Typical Micro-firm -- 2.5 Key Statistics From The Database -- 2.6 Conclusion -- End Notes To Chapter 2 -- Ch. 3 Main Quantitative Features Of Database -- 3.1 Introduction -- 3.2 Markets -- 3.3 Finance -- 3.4 Costs -- 3.5 Strategy -- 3.6 Human Capital -- 3.7 Organisation -- 3.8 Technical Change -- 3.9 Conclusion -- Appendix To Chapter 3: Definitions Of Variables -- End Notes To Chapter 3 -- Part 2: Existing Evidence -- Ch. 4. Growth And Survival Of Micro-firms -- 4.1 Introduction --^ 4.2 The Neglect Of The Micro-firm -- 4.3 Variants Of Gibrat's Law -- 4.4 Classical V. Managerial Theories -- 4.5 Conclusion -- End Notes To Chapter 4 -- Ch. 5 Funding Shortages -- 5.1 Introduction -- 5.2 The Funding Constraint -- 5.3 The Data And The Questionnaire -- 5.4 Probit Analysis -- 5.5 Conclusion -- End Notes To Chapter 5 -- Part 3: Finance -- Ch. 6. Modelling Financial Structure -- 6.1 Introductions -- 6.2 Analytical Underpinning: Statistics -- 6.3 Analytical Underpinning: Dynamics -- 6.4 The Dynamic Model -- 6.5 Key Issues -- 6.6 Conclusion -- End Notes To Chapter 6 -- Ch. 7 Capital Structure At Inception -- 7.1 Introduction -- 7.2 Continuing Or Ceasing To Trade -- 7.3 Econometric Estimates -- 7.4 Conclusions -- Appendix To Chapter 7: Definitions Of Variables -- End Notes To Chapter 7 -- Ch. 8 Trajectories Of Financial Structure -- 8.1 Introduction -- 8.2 The Dynamics Of Growth -- 8.3 Evidence -- 8.4 Results -- 8.5 Conclusion -- End Notes To Chapter 8 --^ Part 4: Performance -- Ch. 9 The Morphology Of Performance -- (with J A Smith) -- 9.1 Introduction -- 9.2 The Data -- 9.3 Performance Ranking -- 9.4 Cluster Analysis -- 9.5 Conclusion -- End Notes To Chapter 9 -- Ch. 10 Strategy And Structure Of Performance -- (with J A Smith) -- 10.1 Introduction -- 10.2 The Data -- 10.3 Explaining Performance Rank By Business Strategy -- 10.3.1 Ordered Logit Model With Sample Selection -- 10.3.2 The Performance-strategy Relationship -- 10.4 The Estimates -- 10.5 Conclusions -- Appendix To Chapter 10: Definitions Of Variables -- End Notes To Chapter 10 -- Ch. 11 Actions And Outcomes -- 11.1 Introduction -- 11.2 Background -- 11.3 Determinants Of Survival -- 11.4 A Parsimonious Model Of Survival -- 11.5 Conclusion -- Appendix To Chapter 11: Definitions Of Variables -- End Notes To Chapter 11 -- Part 5: Information And Contingency -- Ch. 12 Information And Performance -- 12.1 Introduction -- 12.2 Information Needs -- 12.3 Guiding Decisions --^ 12.4 Using Information Systems -- 12.5 Performance And Is Deve. Gavin C. Reid. Includes Bibliographical References (p. [255]-270) And Index. Book Cover......Page 1 Title......Page 4 Copyright......Page 5 Dedication......Page 6 Contents......Page 8 Figures......Page 14 Tables......Page 15 Preface......Page 17 Acknowledgements......Page 21 Abbreviations......Page 22 Part 1: Background......Page 24 1 Small firm inception and growth......Page 26 2 Fieldwork and database......Page 41 3 Main quantitative features of the database......Page 49 Part 2: Existing evidence......Page 62 4 Growth and profitability of micro-firms......Page 64 5 Funding shortages......Page 74 Part 3: Finance......Page 89 6 Modelling financial structure......Page 91 7 Capital structure at inception and the short-run performance of micro-firms......Page 104 8 Trajectories of financial structure......Page 118 Part 4: Performance......Page 134 9 Performance rankings and cluster analysis......Page 136 10 Performance and business strategy......Page 149 11 Actions and outcomes......Page 162 Part 5: Information and contingency......Page 180 12 Information and performance......Page 182 13 Contingency and information system development......Page 193 14 Small firm type, organisational form and contingency......Page 204 Part 6: Flexibility......Page 218 15 Flexibility, growth and survival......Page 220 16 Scale flexibility......Page 226 17 Market niche flexibility......Page 235 18 Flexibility, firm-specific turbulence and the performance of the long-lived small firm......Page 243 Epilogue......Page 262 Appendix on instrumentation......Page 265 Pre-letters......Page 267 References......Page 272 Administered questionnaire 1......Page 286 Administered questionnaire 4......Page 334 Index......Page 368 This volume is an excellent addition to Routledges Studies in Small Business series. In this extended and novel entrepreneurial analysis of small firm inception and growth, a leading authority in the field develops a new kind of micro-micro analysis, applying rigorous methods from economics, accounting and finance to gain a deeper understanding of micro-firms. Reid examines performance, hierarchy, capital structure, monitoring and control, flexibility, innovation and information systems. Using statistical, econometric and qualitative methods of empirical research, Foundations of Small Business Enterprise tracks and analyses the evolution of 150 small firms from their early years through to maturity. This title will appeal to a wide range of students, specialists and practitioners in economics, accounting and finance.