Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/278416 
Year of Publication: 
2023
Series/Report no.: 
MAGKS Joint Discussion Paper Series in Economics No. 08-2023
Publisher: 
Philipps-University Marburg, School of Business and Economics, Marburg
Abstract: 
This study examines the relationship between access to finance and growth in sales for Micro, Small, and Medium Enterprises (MSMEs) in Iran. Using data from 486 firms in five provinces, our findings indicate that external financing positively impacts sales growth for MSMEs. The results suggest that financing for research and development expenditures, production diversification, new employment and advertising can significantly contribute to increased sales growth. We also find that spending on intellectual property, labor training and land and building acquisition have a negative moderating effect on the relationship between finance and sales growth.
Subjects: 
Finance-sale growth nexus
Micro, Small, and Medium Enterprises (MSMEs)
Iranian economy
External financing
JEL: 
G21
G32
G38
O16
O53
Document Type: 
Working Paper

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