The impact of entrepreneurial orientation on debt financing of family businesses: Evidence from Nigeria
EditorsMontiel Méndez, O.J.
MetadataShow full item record
AbstractThere exists a shortage of studies that establish linkages between entrepreneurial orientation and debt financing in family businesses. In line with this research stream, the purpose of this chapter is to examine the relationship between entrepreneurial orientation and debt financing of family businesses. Specifically, the study investigates how the five entrepreneurial orientation dimensions– risk-taking, innovativeness, proactiveness, competitive aggressiveness, and autonomy influence family business debt financing. By adopting a qualitative research methodology and based on empirical evidence gathered through a 10-case study design involving face-to-face interviews with owners of family businesses in Nigeria, the study examines the influence of entrepreneurial orientation on debt financing. The results suggest that the entrepreneurial orientation of family businesses seems to play a pivotal role in influencing debt financing. If a firm is entrepreneurial-oriented, it is reasonable to expect that it will focus attention on new and emerging opportunities for obtaining debt financing. The study advances research on entrepreneurial orientation and debt financing in family businesses. It develops an empirically theoretical framework at the intersection of the family business and entrepreneurial orientation research, filling a gap in the literature. Future research could substantiate the findings of this study on a broader empirical base, using quantitative methods. This study offers a new perspective to the study of entrepreneurial orientation and, at the same time, contributes with findings from research on entrepreneurial orientation to the study of debt financing in family businesses.
CitationJaiyeola, A., Wang, Y. and Mahmood, S. (2022) The impact of entrepreneurial orientation on debt financing of family businesses: Evidence from Nigeria, in Montiel Méndez, O.J., Tomaselli, S. & Maciel, A. S. (Eds.) Family Business Debates: Multidimensional Perspectives Across Countries, Continents and Geo-political Frontiers. Bingley: Emerald Publishing Limited, pp. 351-379.
TypeChapter in book
DescriptionThis is an accepted manuscript of a chapter published by Emerald in Family Business Debates: Multidimensional Perspectives Across Countries, Continents and Geo-political Frontiers, published on 28/11/2022, available online: 10.1108/978-1-80117-666-820221018 The accepted version of the publication may differ from the final published version.
Except where otherwise noted, this item's license is described as https://creativecommons.org/licenses/by-nc/4.0/