小微企业融资行为外文文献翻译（节选）

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1、中文 3050字 ,1850单词， 1 万英文字符 文献出处 :Daskalakis N, Jarvis R, Schizas E. Financing practices and preferences for micro and small firmsJ. Journal of Small Business and Enterprise Development, 2013, 20(1): 80-101. http:/w ww.w 原文 Financing practices and preferences for micro and small rms Nikolaos Daskalak

2、is;Robin Jarvis;Emmanouil Schizas 献 Abstract Purpose The aims of the paper are three-fold: rst, to analyse how small and micro rms nance themselves; second, to investigate what their nancing preferences are; and third, to explore their opinions on how they evaluate the nancing sources and the variou

3、s obstacles they face in accessing those sources. Design/methodology/approach The paper uses a sample of Greek small and micro rms, which cover 99.6 per cent of the total number of rms operating in Greece. The data are derived from the answers in a structured questionnaire. Findings The main conclus

4、ions are as follows. Regarding equity nancing, rms rely heavily on their own funds and would not raise new equity from sources outside the family; thus, there is a reluctance to use new outside equity (venture capital, business angels, etc.). Regarding debt nancing, rms denoted that they would use m

5、ore debt, specically long-term debt, than they currently do. Thus, there are limitations in accessing long-term debt nancing. Regarding grant nancing, micro and small rms should be better informed and encouraged more to participate in state grants and co-nanced programs; thus, there is an informatio

6、nal gap in grant nancing. Originality/value The paper uses a sample of Greek micro and small rms and a survey methodology to tackle the lack of quantitative published data for most small rms in Greece. It incorporates distinct sources of funds that are very important for small rms (family funds, grants provided by the state and micro-loans). It investigates preferences, not just practices. Keywords: Capital structure, Micro an