The research paper presents research done on access to finance by micro-, small- and medium-sized enterprises (MSMEs). There is a substantial evidence that small firms face larger growth constraints and have less access to formal sources of external finance. The study offers an insight into the sources of finance used by the enterprises of Sports Goods Industry of Punjab. In this article, the relationship or association between age of the MSMEs is studied with source of finance chosen by them, that is, whether there is any pattern witnessed in choosing the source of finance by young and old organisations. The findings were based on interviews conducted with 107 organisations.
AryeeteyE.Baah-NuakohA.DugglebyT.HettigeH.SteelW.F. (1994). Supply and demand for finance of small enterprises in Ghana (12–47) (World Bank Discussion Paper 251). Washington, DC: The World Bank. doi: https://doi.org/10.1596/0-8213-2964-2
2.
BadulescuA.BadulescuD.SaveanuT.HatosR. (2018). The relationship between firm size and age, and its social responsibility actions—focus on a developing country (Romania). Sustainability, 10(3), 1–21. Retrieved from https://ideas.repec.org/a/gam/jsusta/v10y2018i3p805-d136207.html
3.
BeckT.Demirguc-KuntA.Martinez PeriaM. S. (2005). Reaching out: Access to and use of banking services across countries. Washington, DC: The World Bank.
4.
BeckT.Demirgüç-KuntA.MaksimovicV. (2006). The influence of financial and legal institutions on firm size. Journal of Banking & Finance, 30(1), 2995–3015. doi: https://doi.org/10.1016/j.jbankfin.2006.05.006
5.
BergerA.UdellG. (1998). The economics of small business finance: the roles of private equity and debt markets in the financial growth cycle. Journal of Banking and Finance, 22(6), 613–673. doi: https://doi.org/10.1016/S0378-4266(98)00038-7
6.
BergerA.UdellG. (2002). Small business credit availability and relationship lending: The importance of bank organizational structure. The Economic Journal, 112(477), F32–F53. Retrieved from http://www.jstor.org/stable/798490
7.
CarpenterR. E.PetersenB. C. (2002). Is the growth of small firms constrained by internal finance?Review of Economics and Statistics, 84(2), 298–309. doi: https://doi.org/10.1162/003465302317411541
8.
CzarnitzkiD. (2006). Research and development in small- and medium-sized enterprises: The role of financial constraints and public funding, Scottish Journal of Political Economy, 53(3), 335–357. doi: https://doi.org/10.1111/j.1467-9485.2006.00383.x
9.
D’angeloA.MajocchiA.ZucchellaA.BuckT. (2013). Geographical pathways for SME internationalization: Insights from an Italian sample. International Marketing Review, 30(2), 80–105. doi: https://doi.org/10.1108/02651331311314538
10.
Di MariaE.GanauR. (2014). Driving a firm’s export propensity and export intensity: The role of experience, innovation, and international marketing strategy (Marco Fanno Working Paper No. 175). Padua, Italy: University of Padova.
11.
GanotakisP.LoveJ. H. (2011). R&D, product innovation, and exporting: evidence from UK new technology based firms. Oxford Economic Papers, 63(2), 279–306. doi: https://doi.org/10.1093/oep/gpq027
12.
KirpalaniV. H.McIntoshN. B. (1980). International marketing effectiveness of technology-oriented small firms. Journal of International Business Studies, 11(3), 81–90. Retrieved from http://www.jstor.org/stable/154738
13.
MajocchiA.BacchiocchiE.MayrhoferU. (2005). Firm size, business experience and export intensity in SMEs; A longitudinal approach to complex relationships. International Business Review, 14(6), 719–738. doi: https://doi.org/10.1016/j.ibusrev.2005.07.004
14.
MalhotraN. K.NunanD.BirksD. F. (2017). Marketing research: An applied approach. London, UK: Financial Times/Prentice Hall.
15.
OliveiraB.FortunatoA. (2006). Firm growth and liquidity constraints: a dynamic analysis. Small Business Economics, 27, 139–156. doi: https://doi.org/10.1007/s11187-006-0006-y
16.
RobertsR. W. (1992). Determinants of corporate social responsibility disclosure: an application of stakeholder theory. Accounting, Organizations and Society, 17(6), 595–612. doi: https://doi.org/10.1016/0361-3682(92)90015-K
SidhuA. S.MahajanD. (2018). Association between age of the MSMEs and various activities undertaken by them–An Analytical study of sports goods industry of Punjab. Research Review. International Journal of Multidisciplinary, 03(10), 91–97. doi: http://doi.org/10.5281/zenodo.1457681
