مقاله انگلیسی رایگان در مورد ترجیحات و شیوه های تامین مالی شرکت ها (الزویر)

Firms need funds to operate. Yet, some firms have much greater difficulty obtaining funds than others. Despite contributing to wealth creation and employment generation (Newman et al., 2013; Van Caneghem and Van Campenhout, 2012), small and medium-sized enterprises (SMEs) face many obstacles in procuring necessary funds (Boocock and Wahab, 2001). These financing hurdles are due to lending bias, inconsistencies in financing framework, and underdeveloped capital markets for SME. For example, De (2010) discusses the problems that Indian SMEs encounter obtaining short-and long-term financing. Hussain et al. (2006) report that the majority of Chinese SMEs lack sufficient capital to meet their long-term requirements. In fact, Kraemer-Eis and Lang (2012) view this concern as a fundamental structural issue for SMEs. The purpose of this study is to identify the financing preferences and practices of a sample of Indian SMEs, to determine how owner/manager characteristics affect preferences and practices, and to explain why Indian SMEs select certain types of funds. Because SMEs are not required to publish financial statements, survey research is the primary source of obtaining data.