Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/114636
Authors: 
Ang, James S.
Year of Publication: 
1992
Citation: 
[Journal:] Journal of Small Business Finance [ISSN:] 1057-2287 [Volume:] 1 [Year:] 1992 [Issue:] 3 [Pages:] 185-203
Abstract: 
This paper is a first attempt at differentiating the problems of finance of the privately held small businesses from their larger counterparts. Small businesses, though not concerned with the problems and opportunities associated with publicly traded firms, have different types of complexities, such as shorter expected life, presence of estate tax, intergenerational transfer problems, and prevalence of implicit contracts. Some standard problems like agency and asymmetric information are also more complex. The relatively high transaction costs faced by small businesses in all types of financial decisions also preclude a sizable subset of available choices.
Subjects: 
Finance
Theory of Finance
Privately-Held
Small Business
JEL: 
G32
L25
G35
G31
Document Type: 
Article

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