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Pecking-order på skånska

Lindén, Annie LU ; Engqvist, Louise; Mansfeld, Nils and Jansson, Andreas (2016) FEKH89 20152
Department of Business Administration
Abstract (Swedish)
Syfte: Studien ämnar undersöka hur skånska mikro- och småföretag finansierar sin verksamhet och om de agerar i enlighet med pecking-order teorin. Detta görs med syftet att fylla kunskapsgapet och öka förståelsen kring finansieringsstrategier och finansieringsalternativ hos mikro- och småföretag. Det är en förhoppning att studien skall bidra med ny kunskap samt inspirera till framtida studier inom området.
Metod: Studien genomfördes med deduktiv ansats och en kvalitativ metod bestående av enkätstudie och uppföljning med semistrukturerade intervjuer.
Teoretiska perspektiv: Studien utgår från pecking-order teorin och tidigare forskning kring mikro- och småbolagsfinansiering med fokus på bolagens val av kapitalstruktur och prioritering av... (More)
Syfte: Studien ämnar undersöka hur skånska mikro- och småföretag finansierar sin verksamhet och om de agerar i enlighet med pecking-order teorin. Detta görs med syftet att fylla kunskapsgapet och öka förståelsen kring finansieringsstrategier och finansieringsalternativ hos mikro- och småföretag. Det är en förhoppning att studien skall bidra med ny kunskap samt inspirera till framtida studier inom området.
Metod: Studien genomfördes med deduktiv ansats och en kvalitativ metod bestående av enkätstudie och uppföljning med semistrukturerade intervjuer.
Teoretiska perspektiv: Studien utgår från pecking-order teorin och tidigare forskning kring mikro- och småbolagsfinansiering med fokus på bolagens val av kapitalstruktur och prioritering av finansieringskällor. 

Empiri: Enkätstudien skickades ut till 149 skånska mikro- och småföretag varav 30 svar erhölls. Uppföljning med semistrukturerade intervjuer skedde därefter med 16 bolag per telefon.
Slutsatser: Studien påvisade en relativt stark giltighet för pecking-order teorin hos de skånska mikro- och småföretagen då deras agerande och motiveringar i stor utsträckning följer och överensstämmer med teorins prioritetsordning av finansieringsalternativ. Förklaringsvariablerna var dock i en längre utsträckning av icke-finansiell och beteendemässig karaktär vilket skiljer sig från originalteorin som endast är av finansiell karaktär. Vidare finner studien en genomgående aversion gentemot extern finansiering som oroar författarna då detta diskuteras kunna begränsa bolagens potentiella tillväxtmöjligheter. (Less)
Abstract
Purpose: The study aims to examine how micro and small enterprises choose to finance their activities and if they act in accordance with the pecking-order theory. This is done with the purpose to fill the knowledge gap and increase the understanding of financing strategies and financing options of micro and small enterprises. Hopefully the study will contribute to new knowledge within the research area, and act as a source of inspiration for future studies.
Methodology: The study was conducted with a deductive approach and a qualitative method consisting of a survey and follow-ups with semi-structured interviews.
Theoretical perspectives: The study is based on the pecking-order theory and previous research in micro and small enterprise... (More)
Purpose: The study aims to examine how micro and small enterprises choose to finance their activities and if they act in accordance with the pecking-order theory. This is done with the purpose to fill the knowledge gap and increase the understanding of financing strategies and financing options of micro and small enterprises. Hopefully the study will contribute to new knowledge within the research area, and act as a source of inspiration for future studies.
Methodology: The study was conducted with a deductive approach and a qualitative method consisting of a survey and follow-ups with semi-structured interviews.
Theoretical perspectives: The study is based on the pecking-order theory and previous research in micro and small enterprise financing with a focus on companies' choice of capital structure and prioritization of funding sources.
Empirical foundation: The survey was sent out to 149 Skåne-based micro and small enterprises in which responses were received from 30 of them. Semi-structured interviews were then done on 16 of them by telephone as a follow-up.
Conclusions: The study concluded a relatively strong validity of the pecking-order theory among micro and small enterprises in Skåne. This was based on their finance activities, reasoning and priority of sources of finance. The discovered explanatory variables were to a larger extent non- financial and of behavioural character that differs from the original theory that only concluded financial ones. Furthermore, the study finds a consistent aversion towards external financing which worries the authors due to the discussion that it might consequently limit the companies' growth potential. (Less)
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author
Lindén, Annie LU ; Engqvist, Louise; Mansfeld, Nils and Jansson, Andreas
supervisor
organization
course
FEKH89 20152
year
type
M2 - Bachelor Degree
subject
keywords
Kapitalstruktur 
, Finansiering, Småföretag, Mikroföretag, Pecking-order teori
language
Swedish
id
8610874
date added to LUP
2016-03-16 13:50:01
date last changed
2016-03-16 13:50:01
@misc{8610874,
  abstract     = {Purpose: The study aims to examine how micro and small enterprises choose to finance their activities and if they act in accordance with the pecking-order theory. This is done with the purpose to fill the knowledge gap and increase the understanding of financing strategies and financing options of micro and small enterprises. Hopefully the study will contribute to new knowledge within the research area, and act as a source of inspiration for future studies.
Methodology: The study was conducted with a deductive approach and a qualitative method consisting of a survey and follow-ups with semi-structured interviews.
Theoretical perspectives: The study is based on the pecking-order theory and previous research in micro and small enterprise financing with a focus on companies' choice of capital structure and prioritization of funding sources.
Empirical foundation: The survey was sent out to 149 Skåne-based micro and small enterprises in which responses were received from 30 of them. Semi-structured interviews were then done on 16 of them by telephone as a follow-up.
Conclusions: The study concluded a relatively strong validity of the pecking-order theory among micro and small enterprises in Skåne. This was based on their finance activities, reasoning and priority of sources of finance. The discovered explanatory variables were to a larger extent non- financial and of behavioural character that differs from the original theory that only concluded financial ones. Furthermore, the study finds a consistent aversion towards external financing which worries the authors due to the discussion that it might consequently limit the companies' growth potential.},
  author       = {Lindén, Annie and Engqvist, Louise and Mansfeld, Nils and Jansson, Andreas},
  keyword      = {Kapitalstruktur 
,Finansiering,Småföretag,Mikroföretag,Pecking-order teori},
  language     = {swe},
  note         = {Student Paper},
  title        = {Pecking-order på skånska},
  year         = {2016},
}