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Open Access research which pushes advances in bionanotechnology

Strathprints makes available scholarly Open Access content by researchers in the Strathclyde Institute of Pharmacy & Biomedical Sciences (SIPBS) , based within the Faculty of Science.

SIPBS is a major research centre in Scotland focusing on 'new medicines', 'better medicines' and 'better use of medicines'. This includes the exploration of nanoparticles and nanomedicines within the wider research agenda of bionanotechnology, in which the tools of nanotechnology are applied to solve biological problems. At SIPBS multidisciplinary approaches are also pursued to improve bioscience understanding of novel therapeutic targets with the aim of developing therapeutic interventions and the investigation, development and manufacture of drug substances and products.

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Financial structure and the growing small firm : theoretical underpinning and current evidence

Reid, Gavin (1996) Financial structure and the growing small firm : theoretical underpinning and current evidence. Small Business Economics, 8 (1). pp. 1-7. ISSN 0921-898X

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Abstract

This paper introduces a special issue of small Business Economics on ‘Financing and Small Firm Dynamics’. It establishes a general underpinning for the analysis of small firm financing over time. This appeals to the control theoretic literature, and permits the specification of ‘master trajectories’ of key variables over time like output, debt, dividend and capital. Two trajectories (for cheap debt, and cheap equity, respectively) illustrate this type of analysis, showing how financial structure can vary over time, involving phases of growth, consolidation and stationarity. From this perspective, six papers on small firm dynamics and finance are reviewed. Issues addressed include: credit constraints (funding shortages), wealth as collateral, financial structure, target income modelling of start-up, and bank lending during financial liberalisation.