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Effects of strategic financing decisions on SMEs' performance
Sizonov, Ivan (2025) Effects of strategic financing decisions on SMEs' performance.
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| Abstract: | Technology SMEs play an important role in innovation and economic development, yet many face significant challenges in securing financing. While traditional bank loans have historically been the primary funding method, an increasing number of SMEs are exploring alternative financing methods such as crowdfunding. These financing choices are not merely financial but also strategic, significantly influencing a firm's economic, social, and long-term sustainability performance. This research investigates how SME leaders in the technology sector strategically make financing decisions when choosing between crowdfunding and bank loans, and how these decisions subsequently affect their businesses across multiple performance areas. The analysis is grounded in three theoretical perspectives: Strategic Decision-Making theory, the Resource-Based View, and the Triple Bottom Line framework. Employing a qualitative, comparative case study approach, this study draws on interviews with SME leaders experienced in either crowdfunding or bank loans, analyzing data thematically through a combination of theory-based and open-ended coding guided by the Gioia methodology. Findings reveal that SME leaders strategically navigate trade-offs, with crowdfunding enhancing stakeholder engagement and organizational visibility, and bank loans reinforcing financial discipline and credibility. |
| Item Type: | Essay (Bachelor) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 83 economics |
| Programme: | International Business Administration BSc (50952) |
| Link to this item: | https://purl.utwente.nl/essays/106859 |
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