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Small- and Medium-Sized Businesses' Growth Expectations and Financial Performance in Latvia: Does Ethnicity Matter?

Aidis, R.; Mickiewicz, T.; Sauka, A.; (2010) Small- and Medium-Sized Businesses' Growth Expectations and Financial Performance in Latvia: Does Ethnicity Matter? (Economics Working Papers 85). Centre for the Study of Economic and Social Change in Europe, SSEES, UCL: London, UK. Green open access

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Abstract

By applying regulatory focus theory, this paper investigates the impact of both initial confidence and of exactness of growth expectations on subsequent financial performance of the small firms. Drawing on the unique data set based on the repeated survey design, we make one of the first attempts to explore the complexity of this relationship empirically. Overall the findings suggest that controlling for other relevant factors, including actual growth, the entrepreneurs having higher growth expectations perform significantly better later on in terms of profitability. In addition, education has a strong modifying effect: the impact of high growth expectations on subsequent profit performance is stronger for entrepreneurs with lower level of education.

Type: Working / discussion paper
Title: Small- and Medium-Sized Businesses' Growth Expectations and Financial Performance in Latvia: Does Ethnicity Matter?
Open access status: An open access version is available from UCL Discovery
Publisher version: http://www.ssees.ucl.ac.uk/wp85sum.htm
Language: English
Additional information: Revised working paper. Original paper 'Growth expectations and financial performance of small businesses. Evidence from Latvia' can be found at http://discovery.ucl.ac.uk/17462/
Keywords: Entrepreneurial cognition, expectations, performance, regulatory focus theory
UCL classification: UCL > School of Arts and Social Sciences > SSEES
URI: http://discovery.ucl.ac.uk/id/eprint/1382003

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