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| Author: | Kim, M.K. Burnie, D.A. |
| Title: | The firm size effect and the economic cycle |
| Journal: | Journal of Financial Research
2002 : SPRING, VOL. 25:1, p. 111-124 |
| Index terms: | COMPANIES BY SIZE SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) |
| Freeterms: | ECONOMIC CYCLE |
| Language: | eng |
| Abstract: | Small firms have, on average, lower return on assets and higher leverage than do large firms. Small firms tend to do well in good economic conditions but to perform poorly in the worst economic conditions. The authors investigate the hypothesis that the small firm effect is manifest in the expansion phase of the economic cycle but not in the contraction phase. |
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