Please use this identifier to cite or link to this item:
http://hdl.handle.net/10174/26878
|
| Title: | The Relationship Between Investment and Internal Cash Flows in VC-Backed SMEs: Does Size matter? |
| Authors: | Serrasqueiro, Zélia
Sardo, Filipe
Félix, Elisabete G. S. |
| Keywords: | Internal cash flows
Debt
Growth Opportunities
Investment in Fixed Assets
SMEs
Venture Capital |
| Issue Date: | 2019 |
| Publisher: | Journal of Entrepreneurial Finance |
| Citation: | Serrasqueiro, Z., Sardo, F. and Félix, E.G.S., 2019. The Relationship Between Investment and Internal Cash Flows in VC-Backed SMEs: Does Size matter? Journal of Entrepreneurial Finance, 21(1), 38-56. |
| Abstract: | Using panel data models and two research sub-samples composed of smaller and larger VC-backed, this study seeks to analyze the relationship between investment and internal cash flows. The results indicate that the investment sensitivity to internal cash flows is greater in larger than in the smaller VC-backed SMEs.
Debt is more important for smaller than for larger VC-backed SME investment. The moderation effect of VC ownership reduces the magnitudes of the positive impact of cash flows and debt as well as the negative effect of growth opportunities on investment in both smaller and larger VC-backed SMEs. |
| URI: | https://digitalcommons.pepperdine.edu/jef/vol21/iss1/3
http://hdl.handle.net/10174/26878 |
| Type: | article |
| Appears in Collections: | CEFAGE - Publicações - Artigos em Revistas Internacionais Com Arbitragem Científica
|
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.
|
/
CEFAGE - Centro de Estudos e Formação Avançada em Gestão e Economia /
CEFAGE - Publicações - Artigos em Revistas Internacionais Com Arbitragem Científica /
