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

Marc Cowling, Weixi Liu, Ning Zhang

Research output: Contribution to journalArticle

  • 1 Citations

Abstract

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.

LanguageEnglish
Pages77-100
Number of pages24
JournalJournal of Evolutionary Economics
Volume28
Issue number1
Early online date10 May 2017
DOIs
StatusPublished - 1 Jan 2018

Fingerprint

Firm age
Global financial crisis
Access to finance
Entrepreneurs
Small and medium-sized enterprises
Severity
Business performance
Small business

Keywords

  • Entrepreneurs experience
  • Financial crisis
  • Firm age
  • Job dynamics
  • Sales dynamics

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics

Cite this

Did firm age, experience, and access to finance count? SME performance after the global financial crisis. / Cowling, Marc; Liu, Weixi; Zhang, Ning.

In: Journal of Evolutionary Economics, Vol. 28, No. 1, 01.01.2018, p. 77-100.

Research output: Contribution to journalArticle

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