Small businesses occupy an important place in the French economy with a 9% share in GDP. The management of their capital structure is a central element to ensure their functioning and development. This article proposes to study the determinants of the capital structure of a sample of more than 4,000 French VSEs over the period 2003 to 2013, focusing on the impact of the 2007-2008 crisis. Our results show that VSEs prefer internal financing to external financing. During the crisis, VSEs are making greater use of short-term debt to ensure operational growth by limiting long-term debt to finance investments in tangible assets.
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Perceived product value describes consumers' overall assessment of a product. It takes into account the extent to which a product meets a consumer's needs and expectations. It takes into account the extent to which a product meets a consumer's needs and expectations. The perceived value of a product can be seen as a trade-off between quality and price. However, more nuanced definitions take into account the complex nature of perceived product value, and refer to its dimensions: emotional (feelings generated), social (improved social self-image), quality/performance (quality and performance expectations) and price/value for money (product utility and cost).
OSBURG Victoria-Sophie - MONTPELLIER Business School |
- Dico du Management
- Marketing, Vente et Communication