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Author: | Natke, P.A. Falls, G.A. |
Title: | Economies of scale and the demand for money |
Journal: | Small business economics
2010 : OCT, VOL. 35:3, p. 283-298 |
Index terms: | cash management small business credit control entrepreneurship |
Freeterms: | United States |
Language: | eng |
Abstract: | Cross-sectional data from four Small Business Finance surveys indicate that economies of scale in money holding exist, that these economies seem to be increasing over time, and that the magnitudes are more major than those estimated for large US corporations. Firms, which don't practice several specific cash management techniques and firms encountering constraints in the credit market hold lower money balances. Minority-owned firms exhibit economies of scale uniformly with the overall sample. However, cash management practices and credit constraint variables do not in general affect their money holding behavior. Scale economies vary widely across industries but overall means are quite stable over time. |
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