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Erschienen in: Management Review Quarterly 4/2020

13.11.2019

Capital structure of SMEs: a systematic literature review and bibliometric analysis

verfasst von: Satish Kumar, Riya Sureka, Sisira Colombage

Erschienen in: Management Review Quarterly | Ausgabe 4/2020

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Abstract

Capital structure is the outcome of market conditions, financial decisions taken by the firm, and credit rationing of fund providers. Research on the capital structure of small and medium enterprises (SMEs) has gained momentum in recent years. The present study aims to identify key contributors, key areas, current dynamics, and suggests future research directions in the field of the capital structure of SMEs. This paper adopts a systematic literature review methodology along with bibliometric, network, and content analysis on a sample of 262 studies taken from the Web of Science database to examine the research activities that have taken place on this topic. Most influential papers are identified based on citations and PageRank, along with the most influential authors. The co-citation network is developed to see the intellectual structure of this research area. Applying bibliometric tools, four research clusters have been identified and content analysis performed on the papers identified in the clusters. It is found that the major research focus in this area is around theory testing—mainly, pecking order theory, trade-off theory, and agency theory. Determinants of capital structure, trade credit, corporate governance, and bankruptcy are also the prominent research topics in this field. Also, this study has identified the research gaps and has proposed five actionable research directions for the future.
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Metadaten
Titel
Capital structure of SMEs: a systematic literature review and bibliometric analysis
verfasst von
Satish Kumar
Riya Sureka
Sisira Colombage
Publikationsdatum
13.11.2019
Verlag
Springer International Publishing
Erschienen in
Management Review Quarterly / Ausgabe 4/2020
Print ISSN: 2198-1620
Elektronische ISSN: 2198-1639
DOI
https://doi.org/10.1007/s11301-019-00175-4

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