Growth and Performance of Manufacturing SMEs: The Influence of Financial Management Characteristics
研究了制造业中小企业财务管理特征对企业增长和绩效的影响，发现企业特征比财务管理特征影响更大，发展导向和内外增长约束是关键因素。
PROFESSOR RICHARD MCMAHON IS head of the School of Commerce at Flinders University, South Australia. This paper describes a study of financial management characteristics on business growth and performance among .small and medium-sized enterprises (SMEs) engaged in manufacturing. Nonlinear principal components analysis is used in empirically capturing key enterprise and financial management characteristics. Polytomous logistic regression modelling reveals the influence on business growth and performance of the enterprise and financial management characteristics considered. Enterprise characteristics seem to dominate in their impact upon SME achievement, with financial management characteristics, other than use of external financing being relatively unimportant. Development orientation and the existence of internal and external constraints upoIn growth appeail the most influential enterprise characteristics.