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2017
- handle: 10670/1.b5bjz2
- 0186-1042
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Contaduría y Administración
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Worth Axiology Concealment Conservativism Right (Political science) Neo-conservatism New Right Commerce--Accounting Finance--Accounting Commercial accounting Business enterprises--Accounting Financial accounting Accountancy Use ofCiter ce document
Fabio Albuquerque et al., « Are the cultural accounting values a relevant issue for the SMEs' financing options? », Contaduría y Administración, ID : 10670/1.b5bjz2
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Résumé
"This paper aims to examine the financing options of the managers/owners of SMEs (small and medium-sized companies) from a point of view that incorporates cultural values, namely, conservatism and secrecy. Data were collected with the use of a questionnaire conducted for managers/owners of a sample of 1629 Portuguese SMEs, and with the use of accounting and financial information from the period 2009 to 2011. 438 managers/owners provided valid answers, corresponding to a response rate of 27%. Using multivariate regression techniques as a basis, the results showed that a significant number of managers/owners supported the negative relationship between conservatism/secrecy and the business financing options associated with a higher risk (debts with costs). The results also showed that a more significant number of managers/owners of national SMEs choose sources of financing in light of the pecking order theory."