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Did firm age, experience, and access to finance count? SME performance after the global financial crisis

Cowling, Marc; Liu, Weixi; Zhang, Ning

Authors

Marc Cowling

Weixi Liu

Helen Zhang Helen.Zhang@uwe.ac.uk
Senior Lecturer in Management Accounting



Abstract

© 2017, Springer-Verlag Berlin Heidelberg. This paper examines the relationships between firm age and entrepreneurs experience on SME performance after the 2008/09 global financial crisis. We find that in general the crisis had a long-lasting scarring effect on the SME sector, but there is evidence of some recovery in performance. Interestingly, the well-established, and negative, firm age-growth relationship still holds, but entrepreneurial experience did not have any substantive effects on small business performance. Our findings suggest that the severity of the crisis meant that previous entrepreneur experiences had little value in this unique and uncertain environment. However, young firms still accounted for a disproportionately high share of growth, especially among the fastest growing firms.

Citation

Cowling, M., Liu, W., & Zhang, N. (2018). Did firm age, experience, and access to finance count? SME performance after the global financial crisis. Journal of Evolutionary Economics, 28(1), 77-100. https://doi.org/10.1007/s00191-017-0502-z

Journal Article Type Article
Acceptance Date May 1, 2017
Online Publication Date May 10, 2017
Publication Date Jan 1, 2018
Journal Journal of Evolutionary Economics
Print ISSN 0936-9937
Publisher Springer (part of Springer Nature)
Peer Reviewed Peer Reviewed
Volume 28
Issue 1
Pages 77-100
DOI https://doi.org/10.1007/s00191-017-0502-z
Keywords firm age, entrepreneurs experience, job dynamics, sales dynamics, financial crisis
Public URL https://uwe-repository.worktribe.com/output/872587
Publisher URL https://doi.org/10.1007/s00191-017-0502-z
Additional Information Additional Information : The final publication is available at Springer via https://doi.org/10.1007/s00191-017-0502-z.

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