Strategy and capital budgeting techniques: the moderating role of entrepreneurial structure

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Sammanfattning

This study explores how Miles and Snow's (1978) typology of strategy relates to a firm's choice of capital budgeting techniques (CBT) when the firm operates in a competitive market. Furthermore, it explores how this relationship is contingent on entrepreneurial structure. The study is based on data from 62 small and medium-sized enterprises (SMEs) operating on First North. The empirical data was collected using a survey and secondary data from annual reports and analysed with content analysis. The results show that an analyser strategy is positively related to the choice of sophisticated CBT, and a defender strategy is positively related to the choice of non-sophisticated CBT. Moreover, entrepreneurial structure positively moderates the relationship between prospector strategy and the choice of non-sophisticated CBT. The study also provides practical insights on how to align strategy, CBT, and structure among SMEs operating on competitive markets.

OriginalspråkEngelska
Sidor (från-till)48-70
Antal sidor22
TidskriftInternational Journal of Managerial and Financial Accounting
Volym12
Utgåva1
DOI
StatusPublicerad - 2020

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  • Ekonomi och näringsliv (502)

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