QUT ePrints

Making Do With Less: Firm Growth And Financial Performance Under Resource Constraints

Fitzsimmons, Jason R. (2007) Making Do With Less: Firm Growth And Financial Performance Under Resource Constraints. In Babson College Entrepreneurship Research Conference (BCERC), June 2007, Madrid, Spain.

Abstract

This paper examines the financial resourcing behaviour of a sample of high growth firms. Firms growing faster than generated internally funds must finance this growth through external means or alternatively adopt bootstrapping measures aimed at increasing efficiency in working capital management. For a sample of manufacturing firms, we find that consistent with the pecking order theory; high growth firms have a preference for internal rather than external finance. More specifically, we find that the short term growth in sales to be largely financed through increased inventory turnover along with a reduction in gross margins. This raises questions about the longer term sustainability of this growth.

Impact and interest:

Citation countsare sourced monthly from Scopus and Web of Science® citation databases.

These databases contain citations from different subsets of available publications and different time periods and thus the citation count from each is usually different. Some works are not in either database and no count is displayed. Scopus includes citations from articles published in 1996 onwards, and Web of Science® generally from 1980 onwards.

Citations counts from the Google Scholar™ indexing service can be viewed at the linked Google Scholar™ search.

Full-text downloads:

573 since deposited on 19 Mar 2008
95 in the past twelve months

Full-text downloadsdisplays the total number of times this work’s files (e.g., a PDF) have been downloaded from QUT ePrints as well as the number of downloads in the previous 365 days. The count includes downloads for all files if a work has more than one.

ID Code: 13085
Item Type: Conference Paper
Additional URLs:
Keywords: Firm Growth, Performance, Financial, Resources
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Organisational Planning and Management (150312)
Divisions: Current > Research Centres > Australian Centre for Business Research
Current > QUT Faculties and Divisions > QUT Business School
Copyright Owner: Copyright 2007 (please consult author)
Deposited On: 19 Mar 2008
Last Modified: 05 Jan 2011 23:36

Export: EndNote | Dublin Core | BibTeX

Repository Staff Only: item control page