当出售小企业时,影响转售溢价差异的决定因素:预测非线性方法

John Hayes, David Smith, M. Copeland
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引用次数: 0

摘要

世界各地的小企业和企业活动继续对经济增长和发展产生积极影响。虽然有大量关于小企业发展、增强和成功驱动因素的研究,但对小企业转售的研究很少。具体来说,关于小企业主通过出售企业退出的研究很少。更值得注意的是,以前没有文献可以找到关于变量优化或影响小企业转售的价值。本研究的目的是找出可能对小企业转售价格有积极影响的变量。通过非线性分析,该研究确定了哪些变量最准确地预测了高于平均水平的小企业转售价格。研究人员使用了一个数据集,该数据集调查了过去10年里被出售的2159家小企业。研究结果证实,与非特许经营公司相比,特许经营公司获得更高的转售溢价。该分析还支持,经营超过25年的公司,从事食品/餐馆(非杂货)业务,与各自类别的任何其他公司相比,获得更高的转售溢价。
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Determinants Impacting Resale Premium Disparity When Selling a Small Business: A Predictive Non-Linear Approach
Small and entrepreneurial business activity worldwide continues to have a positive influence on economic growth and development. While there has been a plethora of studies on small business development, enhancement, and drivers for success, minimal research examines small business resales. Specifically, studies regarding the exit of small business owners through the selling of their business is sparse. More notable, no previous literature can be found concerning variables that optimize or impact the value of a small business resale. The purpose of this study is to identify variables that may have a positive influence on small business resale prices. Through non-linear analysis, the research identifies which variables most accurately predict an above average small business resale price. A dataset that examines 2,159 small business firms sold over a 10-year period is utilized to derive the study conclusions. Findings confirm that franchise firms receive a higher resale premium when compared with non-franchise firms. The analysis also supports that firms with greater than 25 years in business and that are engaged in Food/Restaurant (non-grocery) businesses receive a higher resale premium, as compared to any other firms in their respective categories.
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来源期刊
CiteScore
4.50
自引率
5.00%
发文量
22
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