The influence of age and size on the relationships between debt and determinants: an empirical study on Portuguese SMEs
by Zelia Serrasqueiro
International Journal of Entrepreneurship and Small Business (IJESB), Vol. 12, No. 2, 2011

Abstract: SMEs influence the relationships between debt and determinants. To achieve the study objective, we consider two research sub-samples corresponding to low-age, low-size Portuguese SMEs and high-age, high-size Portuguese SMEs. The results show that greater size is more important to increase long-term debt for high-age, high-size SMEs than for low-age, low-size SMEs. Greater age of SMEs means a more accentuated decrease of short-term debt for high-age, high-size SMEs, compared to what happens with low-age, low-size SMEs. Recognition by creditors of growth opportunities and growth for low-age, low-size SMEs seems to be fundamental for these firms to obtain debt to sustain the firm growth, allowing them to invest in innovative activities, with the possibility to diversify activities and products.

Online publication date: Thu, 10-Feb-2011

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Entrepreneurship and Small Business (IJESB):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email