Exploring the Financial Dimensions of Lebanese SMEs: Comparative Study Between Family and Non-family Business

El-CHAARANI H. and El-Abiad Z., (2019), Exploring the Financial Dimensions of Lebanese SMEs: Comparative Study between Family and Non-family Business, International Review of Management and Marketing, Vol. 9 (3).

13 Pages Posted: 15 May 2021

Date Written: 2019

Abstract

This study investigates the financial dimensions of family and non-family SMEs in Lebanon from 2005 to 2016. Based on 81 family SMEs and 45 non-family SMEs, the results reveal that family SMEs have outperform the non-family SMEs during economical and political instability period. In addition, the results show that family SMEs rely on long term debts (LTD) more than non-family SMEs. Oppositely to non-family SMEs, when the level of risk increased with local and regional instability in the period between 2005 and 2011, the results reveal that family SMEs enhanced their needs of financial resources by developing their LTD and lowering their short term debts. Finally, the results show that family SMEs have more.

Keywords: Family Firms, SMEs, Financial Strategy, Capital Structure, Investment

JEL Classification: G3, G24

Suggested Citation

El-Chaarani, Hani and El-Abiad, Zouhour, Exploring the Financial Dimensions of Lebanese SMEs: Comparative Study Between Family and Non-family Business (2019). El-CHAARANI H. and El-Abiad Z., (2019), Exploring the Financial Dimensions of Lebanese SMEs: Comparative Study between Family and Non-family Business, International Review of Management and Marketing, Vol. 9 (3)., Available at SSRN: https://ssrn.com/abstract=3845196

Hani El-Chaarani (Contact Author)

Beirut Arab University ( email )

Beirut
Lebanon

Zouhour El-Abiad

Lebanese University

14 Badaro, Museum
P.O. Box 6573
Beirut, 6056
Lebanon

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