Description
Detailed information concerning relationships between entrepreneurs value, firm financing, firm management.
RELATIONSHIPS BETWEEN ENTREPRENEUR’S VALUE, FIRM
FINANCING, FIRM MANAGEMENT, MARKET PRACTICES, AND
GROWTH PERFORMANCE OF SMALL-MEDIUM ENTERPRISES
IN CAMBODIA
By
CHEA PEOU
Thesis Submitted to the Centre for Graduate Studies,
Universiti Utara Malaysia,
in Fulfillment of the Requirement for the Degree of Doctor of Philosophy
August 2009
i
CENTRE FOR GRADUATE STUDIES
UNIVERSITI UTARA MALAYSIA
PERMISSION TO USE
In presenting this thesis in fulfillment of the requirements for the postgraduate degree
from the Universiti Utara Malaysia, I agree that the University Library may take it
freely available for inspection. I further agree that the permission for copying of this
thesis in any manner, in whole or in part, for scholarly purpose may be granted by my
supervisor or, in his absence, by the Assistant Vice Chancellor of the College of
Business. It is understood that any copy or publication or use of this thesis or parts
thereof for financial gain shall not be allowed without my written permission. It is
also understood that due recognition shall be given to me and to the Universiti Utara
Malaysia for any scholarly use which may be made of any material from my thesis.
Request for permission to copy or make other use of material in this thesis in whole or
in part should be addressed to:
Assistant Vice Chancellor
College of Business
Universiti Utara Malaysia
06010 UUM Sintok
Kedah Darul Aman
Malaysia
ii
ABSTRACT (BAHASA MELAYU)
Kajian ini dijalankan bertujuan untuk mengkaji hubungan antara nilai usahawan,
pembiayaan firma, pengurusan firma, amalan pasaran, dan prestasi pertumbuhan bagi
Perusahaan Kecil dan Sederhana (PKS) di Kemboja. Kajian ini juga mengkaji
pengaruh penyederhana dasar kerajaan terhadap hubungan antara nilai usahawan,
pembiayaan firma, pengurusan firma, amalan pasaran, dan prestasi pertumbuhan bagi
PKS. Bagi menentukan hubungan ini, model hipotetikal di sediakan dengan menguji
hubungan antara nilai usahawan, pembiayaan firma, pengurusan firma, dan amalan
pasaran sebagai pembolehubah bebas; dan dasar kerajaan sebagai pembolehubah
penyederhana; dan prestasi pertumbuhan PKS sebagai pembolehubah bersandar. Soal
selidik di edarkan kepada responden dan 220 soal selidik boleh di gunakan untuk
analisis data.
Data kuantitatif diproses dengan menggunakan program SPSS versi 15.0. Statistik
diskriptif di gunakan untuk menghuraikan profil responden dan item-item
pembolehubah. Statistik penakbiran di gunakan bagi analisis korelasi, linear, regresi
berbilang dan berhierarki. Dapatan menunjukkan hubungan empirikal yang positif
seperti di hipotesiskan antara nilai usahawan, pembiayaan firma, pengurusan firma,
amalan pasaran yang disederhanakan oleh dasar kerajaan bagi prestasi pertumbuhan
PKS. Perkaitan positif antara kombinasi semua pembolehubah bebas terhadap
pembolehubah bersandar juga di sokong. Dapatan juga mencadangkan bahawa dasar
kerajaan mempunyai pengaruh positif dan penyederhana di dalam model kajian.
iii
ABSTRACT
The aims of this study are to examine the relationship between entrepreneur’s value,
firm financing, firm management, market practices, and growth performance of
Small-Medium Enterprises (SMEs) in Cambodia. This study also examined the
moderating influence of government policy on the relationship between
entrepreneur’s value, firm financing, firm management, market practices, and growth
performance of SMEs. In determining this relationship, a hypothetical model were
developed testing the relationship between entrepreneur’s value, firm financing, firm
management, and market practices as independent variables; and government policy
as moderating variable; and the growth performance of SMEs as dependent variable.
The questionnaires were distributed and 220 questionnaires were usable for data
analysis.
The quantitative data were processed using a SPSS version 15.0 program. Descriptive
statistics used to describe the respondents’ profile and variable items. Correlation,
linear, multiple and hierarchical regressions used for inferential statistics. The result
on the empirical relationship between entrepreneur’s value, firm financing, firm
management, market practices, and moderated by government policy were
contributed positively to the growth performance of SMEs as hypothesized. The
positive association between the combinations among all independent variables to
dependent variable was supported. The results also suggested that government policy
had positive and significant moderating influence on the model.
iv
ACKOWLEDGEMENTS
Firstly, I would like to express my gratitude to many people without whose support
and encouragements this work would not have been made possible. Foremost, are my
supervisors, Associate Professor Dr. Mohd Noor Mohd Shariff and Professor Dr
Juhary Haji Ali, who have patiently extends their criticism and painstaking advices in
this study. Their availability, time and research experiences have been invaluable in
the completion of this study.
My sincere thanks to the Assistant Vice Chancellor and the Dean Research and
Innovation, College of Business, Universiti Utara Malaysia who have given me the
opportunity to study in this university. Next, my sincere thank to Dr Iv Thong, Rector
of National University of Management, Phnom Penh, who had encouraged me to
study.
I am grateful to Samdech Hun Sen, Prime Minister of Royal Government of
Cambodia (RGC) who had invested his energy and spirit to the economic and human
resource development for all Cambodian, in the past, present and future generations.
Next, my utmost humble appreciation to H.E SOK AN; Deputy Prime Minister and
Minister in charge of Ministry Council Ministers of the RGC who had encouraged
and permitted my leaves to study at Universiti Utara Malaysia.
Last but not least, my sincere thanks and appreciation to all the respondents,
colleagues and friends who have helped my study a success. Lastly; many thanks to
my late parents, my brothers and sisters, my daughter for their supports and countless
sacrifices; with my deepest love and gratitude, I dedicate this thesis to them.
v
TABLE OF CONTENTS
PERMISSION TO USE ............................................................................................... I
ABSTRACT (BAHASA MELAYU) .......................................................................... II
ABSTRACT ............................................................................................................... III
ACKOWLEDGEMENTS ........................................................................................ IV
TABLE OF CONTENTS ........................................................................................... V
LIST OF TABLES ...................................................................................................... X
LIST OF FIGURES ................................................................................................. XII
LIST OF ABBREVIATIONS ............................................................................... XIII
CHAPTER 1 ................................................................................................................. 1
INTRODUCTION........................................................................................................ 1
1.1 BACKGROUND OF THE STUDY ............................................................................. 1
1.2 OVERVIEW OF SMES IN CAMBODIA .................................................................... 4
1.3 SMES GROWTH PERFORMANCE .......................................................................... 6
1.3.1 Factors Influencing the Growth Performance of SMEs in Cambodia ....... 7
1.3.2 Importance of Government Policy ............................................................. 9
1.4 PROBLEM STATEMENT ...................................................................................... 10
1.5 RESEARCH QUESTIONS ..................................................................................... 13
1.6 RESEARCH OBJECTIVES .................................................................................... 14
1.7 SIGNIFICANCE OF THE STUDY ........................................................................... 15
1.7.1 Academic Importance .............................................................................. 15
1.7.2 Practical Importance ............................................................................... 15
1.8 SCOPE OF THE STUDY ........................................................................................ 17
1.9 LIMITATIONS OF THE STUDY ............................................................................. 17
1.9.1 Regional Bias ........................................................................................... 17
1.9.2 Sectoral Bias ............................................................................................ 18
1.9.3 Response Bias .......................................................................................... 18
1.10 ORGANIZATION OF THE THESIS ..................................................................... 19
CHAPTER 2 ............................................................................................................... 22
REVIEW OF THE LITERATURE I: THE GROWTH PERFORMANCE OF
SMES IN CAMBODIA.............................................................................................. 22
2.1 INTRODUCTION ................................................................................................. 22
2.2 THE COUNTRY’S BACKGROUND ....................................................................... 22
2.3 THE FACTORS INFLUENCING ON SMES GROWTH PERFORMANCE IN CAMBODIA
25
2.3.1 Entrepreneur’s Value ............................................................................... 25
2.3.2 Firm Financing ........................................................................................ 27
2.3.3 Firm Management .................................................................................... 29
2.3.4 Market Practices ...................................................................................... 30
vi
2.4 THE INFLUENCE OF GOVERNMENT POLICY ....................................................... 32
2.4.1 Political Impact ........................................................................................ 32
2.4.2 Macro Policy ............................................................................................ 34
2.4.3 Micro Policy for SMEs............................................................................. 39
2.5 SUMMARY ......................................................................................................... 47
CHAPTER 3 ............................................................................................................... 49
REVIEW OF THE LITERATURE II: THEORY OF THE GROWTH
PERFORMANCE OF SMES AND MODELS ........................................................ 49
3.1 INTRODUCTION ................................................................................................. 49
3.2 SMES’ DEFINITIONS ......................................................................................... 49
3.3 PREVIOUS RESEARCH MODELS ON THE GROWTH PERFORMANCE OF SMES ..... 56
3.3.1 Gibb and Davies SMEs Growth Model .................................................... 56
3.3.2 Hay SMEs Growth Model ........................................................................ 57
3.3.3 Adams and Hall’s SMEs Growth Model .................................................. 59
3.3.4 Romano and Ratnatunga SMEs Growth Model ....................................... 60
3.3.5 Kolvereid and Bullvage Model ................................................................ 61
3.3.6 Petrakis’ SMEs Growth Model ................................................................ 62
3.3.7 Herri’s SME Growth Model ..................................................................... 64
3.4 THE UNDERLYING THEORY OF THE GROWTH PERFORMANCE OF SMES ........... 66
3.4.1 Entrepreneurship Theory ......................................................................... 66
3.4.2 Entrepreneur Behavior Theory: Entrepreneur’s Value ........................... 69
3.4.3 Resource Based Theory: Firm Financing, Firm Management, and Market
Practices .............................................................................................................. 73
3.4.4 The Contingency Theory: Government Policy ......................................... 75
3.4.5 SME Growth Theory ................................................................................ 80
3.5 CONCEPTUAL DEVELOPMENT OF THE FRAMEWORK .......................................... 82
3.6 FIRM GROWTH PERFORMANCE MEASUREMENT ................................................ 84
3.7 THE INFLUENCE OF ENTREPRENEUR’S VALUE ON SMES GROWTH
PERFORMANCE .......................................................................................................... 88
3.8 THE INFLUENCE OF FIRM FINANCING ON SMES GROWTH PERFORMANCE ........ 95
3.9 THE INFLUENCE OF FIRM MANAGEMENT ON THE GROWTH PERFORMANCE OF
SMES ...................................................................................................................... 101
3.10 THE INFLUENCE OF MARKET PRACTICES ON SMES GROWTH PERFORMANCE
108
3.11 THE INFLUENCE OF GOVERNMENT POLICY ON SMES GROWTH
PERFORMANCE ........................................................................................................ 113
3.12 SUMMARY ................................................................................................... 119
CHAPTER 4 ............................................................................................................. 122
THEORETICAL FRAMEWORK AND HYPOTHESES ................................... 122
4.1 INTRODUCTION ............................................................................................... 122
4.2 OPERATIONAL DEFINITIONS OF RESEARCH VARIABLES .................................. 122
4.2.1 Independent Variable 1: Entrepreneur’s Value ..................................... 123
4.2.2 Independent Variable 2: Firm Financing .............................................. 124
4.2.3 Independent Variable 3: Firm Management .......................................... 126
4.2.4 Independent Variable 4: Market Practices ............................................ 127
4.2.5 Moderating Variable: Government Policy ............................................ 129
4.2.6 Dependent Variable: Growth Performance of SMEs ............................ 130
vii
4.3 RESEARCH FRAMEWORK ................................................................................. 131
4.4 RESEARCH HYPOTHESES ................................................................................. 132
4.4.1 Hypothesis 1: The Relationship between Entrepreneur’s Value and
Growth Performance of SMEs: .......................................................................... 132
4.4.2 Hypothesis 2: The Relationship between Firm Financing and Growth
Performance of SMEs ........................................................................................ 136
4.4.3 Hypothesis 3: The Relationship between Firm Management and Growth
Performance of SMEs ........................................................................................ 139
4.4.4 Hypotheses 4 & 5: The Relationship between Market Practices and
Growth Performance of SMEs ........................................................................... 142
4.4.5 Hypotheses 6—10: The Moderating Effect of Government Policy in the
Relationship between Entrepreneur’s Value, Firm Financing, Firm Management,
Market Practices and Growth Performance of SMEs ....................................... 146
4.5 SUMMARY ....................................................................................................... 150
CHAPTER 5 ............................................................................................................. 151
RESEARCH DESIGN AND METHODOLOGY ................................................. 151
5.1 INTRODUCTION ............................................................................................... 151
5.2 RESEARCH DESIGN ......................................................................................... 152
5.2.1 Overview of the Research Method ......................................................... 152
5.2.2 Present Research Method ...................................................................... 159
5.3. SAMPLING ................................................................................................... 162
5.3.1 Sampling Technique ............................................................................... 162
5.3.2 Sample Size ............................................................................................ 163
5.4 DATA COLLECTION INSTRUMENTS AND PROCEDURES .................................... 164
5.4.1 Data Collection Instruments .................................................................. 164
5.4.2 Data Collection Procedures .................................................................. 166
5.4.3 Preliminary Test of Data Collections .................................................... 170
5.5 NON RESPONSE BIAS ...................................................................................... 172
5.6 ANALYTICAL APPROACH ................................................................................ 173
5.6.1 Scale Validation ..................................................................................... 173
5.6.2 Reliability ............................................................................................... 173
5.6.3 Factor Analysis ...................................................................................... 174
5.6.4 Normality ............................................................................................... 175
5.7 DATA ANALYSIS TECHNIQUE .......................................................................... 176
5.7.1 Descriptive Frequency ........................................................................... 177
5.7.2 Correlations ........................................................................................... 178
5.7.3 Regressions ............................................................................................ 179
5.8 MODEL EVALUATION ...................................................................................... 183
5.8.1 Multicolinearity...................................................................................... 183
5.8.2 Heterocedasticity ................................................................................... 184
5.8.3 Autocorrelation ...................................................................................... 185
5.8.4 Linearity ................................................................................................. 186
5.9 SUMMARY ....................................................................................................... 187
CHAPTER 6 ............................................................................................................. 190
RESULTS AND ANALYSIS .................................................................................. 190
6.1 INTRODUCTION ........................................................................................... 190
6.2 PRELIMINARY TEST RESULTS ......................................................................... 191
viii
6.2.1 Reliability Test ....................................................................................... 192
6.2.2 Reliability Test for Entrepreneur’s Value Variable ............................... 194
6.2.3 Reliability Test for Firm Financing Variable ........................................ 195
6.2.4 Reliability Test for Firm Managemet Variable ...................................... 196
6.2.5 Reliability Test for Market Practices Variable ...................................... 197
6.2.6 Reliability Test for Government Policy Variable ................................... 198
6.2.7 Reliability Test for Growth Performance of SMEs Variable ................. 199
6.3 FACTOR ANALYSIS.......................................................................................... 200
6.4 MAHALANOBIS DISTANCE TEST ..................................................................... 201
6.5 SKEWNESS AND KURTOSIS TEST ..................................................................... 202
6.6 CONCLUSIONS OF PRELIMINARY RESULT ........................................................ 203
6.7 PROFILES OF RESPONDENTS ............................................................................ 203
6.7.1 Type of Business ..................................................................................... 204
6.7.2 Size of Business ...................................................................................... 206
6.7.3 Sources of Capital Investment ............................................................... 207
6.7.4 Number of Employees ............................................................................ 208
6.7.5 Amounts of Capital Investment .............................................................. 209
6.7.6 Business Stage ........................................................................................ 210
6.8 PROFILES OF VARIABLES ................................................................................ 211
6.8.1 Entrepreneur’s Value: Independent Variable 1 ..................................... 212
6.8.2 Firm Financing: Independent Variable 2 .............................................. 215
6.8.3 Firm Management: Independent Variable 3 .......................................... 218
6.8.4 Market Practices: Independent Variable 4 ............................................ 221
6.8.5 Government Policy: Moderating Variable ............................................ 224
6.8.6 The Growth Performance of SMEs: Dependent Variable ..................... 227
6.9 THE CORRELATION VARIABLES ...................................................................... 228
6.10 HYPOTHESES TESTING ................................................................................ 231
6.10.1 Hypothesis 1: Relationship between Entrepreneur Values and Growth
Performance of SMEs ........................................................................................ 232
6.10.2 Hypothesis 2: Relationship between Firm Financing and Growth
Performance of SMEs ........................................................................................ 234
6.10.3 Hypothesis 3: Relationship between Firm Managment and Growth
Performance of SMEs ........................................................................................ 235
6.10.4 Hypothesis 4: Relationship between Market Practices and Growth
Performance of SMEs ........................................................................................ 237
6.10.5 Hypothesis 5: Relationship between Entrepreneur’s Value, Firm
Financing, Firm Management, Market Practices and Growth Performance of
SMEs 238
6.10.6 Hypothesis 6: Moderating Effect of Government Policy in Relationship
between the Entrepreneur’s Value and Growth Performance of SMEs ............ 241
6.10.7 Hypothesis 7: Moderating Effect of Government Policy in Relationship
between Firm Financing and Growth Performance of SMEs ........................... 243
6.10.8 Hypothesis 8: Moderating Effect of Government Policy in Relationship
between Firm Management and Growth Performance of SMEs ....................... 245
6.10.9 Hypothesis 9: Moderating Effect of Government Policy in Relationship
between Market Practices and Growth Performance of SMEs ......................... 246
6.10.10 Hypothesis 10: Moderating Effect of Government Policy in Relationship
between Entrepreneur’s Value, Firm Financing, Firm Management, Market
Practices and Growth Performance of SMEs .................................................... 249
6.11 CONCLUSIONS OF HYPOTHESES TESTING .................................................... 252
ix
6.12 NORMALITY ASSESSMENTS OF THE MODEL ................................................ 253
6.12.1 Multicolinearity Test ......................................................................... 253
6.12.2 Heteroscedasticity .............................................................................. 254
6.12.3 Autocorrelations ................................................................................ 256
6.12.4 Linearity: Best Linear Unbiased Estimation ..................................... 257
6.13 SUMMARY ................................................................................................... 258
CHAPTER 7 ............................................................................................................. 259
CONCLUSIONS AND RECOMMENDATIONS ................................................. 259
7.1 INTRODUCTION ............................................................................................... 259
7.2 CONCLUSIONS AND RECOMMENDATIONS ........................................................ 261
7.2.1 The Influence of Entrepreneur’s Value, Firm Financing, Firm
Management, and Market Practices on the Growth Performance of SMEs:
Direct Relationship of Variable Interactions ..................................................... 262
7.2.2 The Moderating Effect of Government Policy in the Relationship between
Entrepreneur’s Value, Firm Financing, Firm Management, Market Practices,
and the Growth Performance of SMEs: Indirect Relationship of Variable
Interactions ........................................................................................................ 265
7.3 THE GROWTH PERFORMANCE OF SMES IN CAMBODIA ................................... 270
7.4 THE FACTORS INFLUENCING ON THE GROWTH PERFORMANCE OF SMES IN
CAMBODIA .............................................................................................................. 271
7.4.1 Entrepreneur’s Value ............................................................................. 272
7.4.2 Firm Financing ...................................................................................... 272
7.4.3 Firm Management .................................................................................. 274
7.4.4 Market Practices .................................................................................... 276
7.5 THE MODERATING EFFECTS OF GOVERNMENT POLICY ON THE GROWTH
PERFORMANCE OF SMES IN CAMBODIA ................................................................. 278
7.6 FUNDAMENTAL CONTRIBUTION OF THIS RESEARCH ....................................... 281
7.6.1 Contributions to Knowledge .................................................................. 281
7.6.2 Contributions to the Practical Level of Entrepreneurs .......................... 283
7.6.3 Contributions to the Royal Government of Cambodia .......................... 284
7.7 RECOMMENDATIONS ....................................................................................... 285
7.7.1 Roles of Entrepreneurs .......................................................................... 286
7.7.2 Roles of Royal Government of Cambodian to the Growth Performance of
SMEs 288
7.8 DIRECTIONS FOR FUTURE RESEARCH .............................................................. 291
REFERENCES ......................................................................................................... 294
APPENDIX 1: QUESTIONNAIRE..............................................................................
APPENDIX 2: RESULTS OF STATISTICAL DATA ANALYSIS .........................
x
LIST OF TABLES
TABLE 2.1: CAMBODIAN SME DEFINITIONS ................................................................. 44
TABLE 3.1: SMES DEFINITION IN JAPAN AND KOREA ................................................... 53
TABLE 3.2: SME DEFINITION IN WESTERN COUNTRIES ................................................ 54
TABLE 3.3: SMES DEFINITION BASE ON THE NUMBERS OF EMPLOYEES ....................... 55
TABLE 3.4: THE COMMON GLOBAL SMES DEFINITIONS OF IFC ................................... 55
AND THE WORLD BANK GROUP-SME........................................................................... 55
TABLE 3.5: SME DEFINITION IN CAMBODIA ................................................................. 56
TABLE 4.1: EXPLORATORY FACTOR ANALYSIS FOR ENTREPRENEUR’S VALUE VARIABLE
............................................................................................................................ 124
TABLE 4.2: EXPLORATORY FACTOR ANALYSIS FOR FIRM FINANCING VARIABLE ....... 125
TABLE 4.3: EXPLORATORY FACTOR ANALYSIS OF FIRM MANAGEMENT VARIABLE ... 127
TABLE 4.4: EXPLORATORY FACTOR ANALYSIS FOR MARKET PRACTICES VARIABLE . 128
TABLE 4.5: EXPLORATORY FACTOR ANALYSIS FOR GOVERNMENT POLICY VARIABLE
............................................................................................................................ 129
TABLE 4.6: EXPLORATORY FACTOR ANALYSIS FOR GROWTH PERFORMANCE OF SMES
............................................................................................................................ 130
TABLE 5.1: THE SUMMARY OF PREVIOUS RESEARCH METHODOLOGIES ..................... 156
TABLE 5.2: SMES POPULATION AND BREAKDOWN SAMPLES ..................................... 164
TABLE 6.1 SUMMARY OF RELIABILITY TEST OF VARIABLES ....................................... 193
TABLE 6.2: RELIABILITY TEST FOR ENTREPRENEUR’S VALUE FACTOR ...................... 194
TABLE 6.3: RELIABILITY TEST FOR FIRM FINANCING FACTOR .................................... 195
TABLE 6.4: RELIABILITY TEST FOR FIRM MANAGEMENT FACTOR .............................. 196
TABLE 6.5: RELIABILITY TEST FOR MARKET PRACTICES FACTOR .............................. 197
TABLE 6.6: RELIABILITY TEST FOR GOVERNMENT POLICY FACTOR ........................... 198
TABLE 6.7: RELIABILITY TEST FOR GROWTH PERFORMANCE OF SMES FACTOR ....... 199
TABLE 6.8 SUMMARY OF CONFIRMATORY FACTOR ANALYSIS OF VARIABLES ........... 200
TABLE 6.9 RESULT OF MAHALANOBIS DISTANCE ASSESSMENT ................................. 201
TABLE 6.10: TYPES OF BUSINESSES ............................................................................ 205
TABLE 6.11: SIZES OF BUSINESSES ............................................................................. 206
TABLE 6.12: SOURCES OF CAPITAL INVESTMENT ........................................................ 208
TABLE 6.13: NUMBERS OF EMPLOYEES ...................................................................... 209
TABLE 6.14: AMOUNTS OF CAPITAL INVESTMENT (US DOLLARS) ............................. 210
TABLE 6.15: STAGES OF BUSINESS OPERATIONS ........................................................ 210
TABLE 6.16 DESCRIPTIVE STATISTICS OF VARIABLES ................................................. 212
TABLE 6.17: DESCRIPTIVES OF ENTREPRENEUR’S VALUE FACTOR ............................. 215
TABLE 6.18: DESCRIPTIVES OF FIRM FINANCING FACTOR .......................................... 217
TABLE 6.19: DESCRIPTIVES OF FIRM MANAGEMENT FACTOR ..................................... 220
TABLE 6.20: DESCRIPTIVES OF MARKET PRACTICES FACTOR ..................................... 223
TABLE 6.21: DESCRIPTIVES OF GOVERNMENT POLICY FACTOR .................................. 226
TABLE 6.22: DESCRIPTIVES OF GROWTH PERFORMANCE OF SMES FACTORS ............. 228
TABLE 6.23 VARIABLES’ CORRELATIONS ................................................................... 230
TABLE 6.24A MODEL SUMMARY OF HYPOTHESIS 1 .................................................... 232
TABLE 6.24B ANOVA OF HYPOTHESIS 1 ................................................................... 233
TABLE 6.24C COEFFICIENTS OF HYPOTHESIS 1 ........................................................... 233
TABLE 6.25A MODEL SUMMARY OF HYPOTHESIS 2 .................................................... 234
TABLE 6.25B.ANOVA OF HYPOTHESIS 2 ................................................................... 235
TABLE 6.25C COEFFICIENTS OF HYPOTHESIS 2 ........................................................... 235
xi
TABLE 6.26A MODEL SUMMARY OF HYPOTHESIS 3 .................................................... 236
TABLE 6.26B ANOVA OF HYPOTHESIS 3 ................................................................... 236
TABLE 6.26C COEFFICIENTS OF HYPOTHESIS 3 ........................................................... 237
TABLE 6.27A MODEL SUMMARY OF HYPOTHESIS 4 .................................................... 237
TABLE 6.27B ANOVA OF HYPOTHESIS 4 ................................................................... 238
TABLE 6.28A MODEL SUMMARY OF HYPOTHESIS 5 .................................................... 239
TABLE 6.28B ANOVA OF HYPOTHESIS 5 ................................................................... 239
TABLE 6.28C COEFFICIENTS OF HYPOTHESIS 5 ........................................................... 240
TABLE 6.29: SUMMARY OF DIRECT HYPOTHESES RESULTS ........................................ 241
TABLE6. 30A MODEL SUMMARY OF HYPOTHESIS 6 .................................................... 242
TABLE 6.30B ANOVA OF HYPOTHESIS 6 ................................................................... 242
TABLE 6.30C COEFFICIENTS OF HYPOTHESIS 6 ........................................................... 243
TABLE 6.31A MODEL SUMMARY OF HYPOTHESIS 7 .................................................... 244
TABLE 6.31B ANOVA OF HYPOTHESIS 7 ................................................................... 244
TABLE 6.31C COEFFICIENTS OF HYPOTHESIS 7 ........................................................... 245
TABLE 6.32A MODEL SUMMARY OF HYPOTHESIS 8 .................................................... 245
TABLE 6.32B ANOVA OF HYPOTHESIS 8 ................................................................... 246
TABLE 6.32C COEFFICIENTS OF HYPOTHESIS 8 ........................................................... 246
TABLE 6.33A MODEL SUMMARY OF HYPOTHESIS 9 .................................................... 247
TABLE 6.33B ANOVA OF HYPOTHESIS 9 ................................................................... 247
TABLE 6.33C COEFFICIENTS OF HYPOTHESIS 9 ........................................................... 249
TABLE 6.34A MODEL SUMMARY OF HYPOTHESIS 10 .................................................. 250
TABLE 6.34B ANOVA OF HYPOTHESIS 10 ................................................................. 250
TABLE 6.34C COEFFICIENTS OF HYPOTHESIS 10 ......................................................... 251
TABLE 6.35 INDIRECT HYPOTHESES RESULTS ............................................................ 251
(MODERATING EFFECT OF GOVERNMENT POLICY) ..................................................... 251
TABLE 6.36 VIF (MULTICOLLINEARITY TEST) ........................................................... 254
TABLE 6.37 SPEARMAN CORRELATIONS TEST ............................................................ 255
TABLE 6.38 DURBIN-WATSON TEST ........................................................................... 256
TABLE 7.1: RESULTS OF DIRECT HYPOTHESES’ TESTS ................................................ 263
TABLE 7.2: RESULT OF INDIRECT HYPOTHESES .......................................................... 267
(MODERATING EFFECT OF GOVERNMENT POLICY) ..................................................... 267
xii
LIST OF FIGURES
FIGURE 1.1: THE FRAMEWORK OF THE RESEARCH PROCESS ................................... 21
FIGURE 3.1: GROWTH CONTEXTUAL VARIABLES AND GROWTH VIA FORMAL
PLANNING. ........................................................................................................... 61
FIGURE 3.2: THE CONCEPTUAL MODEL OF GROWTH IN ENTREPRENEURIAL
ORGANIZATIONS .................................................................................................. 62
FIGURE 3.3: HERRI’S FIRM PERFORMANCE MODEL ................................................. 64
FIGURE 3.4: CONCEPTUAL DEVELOPMENT ................................................................ 83
FIGURE 4.1 THEORETICAL FRAMEWORK ................................................................. 131
FIGURE 4.2: HYPOTHESES OF DIRECT RELATIONSHIP ............................................ 145
FIGURE 4.3: INDIRECT RELATIONSHIP OF HYPOTHESES TESTING ......................... 149
(THE MODERATING EFFECT OF GOVERNMENT POLICY) ........................................ 149
FIGURE 6.1 TYPE OF BUSINESS ................................................................................. 206
FIGURE 6.2 SIZE OF BUSINESS ................................................................................... 207
FIGURE 6.3: BEST LINEAR UNBIASED ESTIMATION ................................................. 258
FIGURE 7.1: DIRECT RELATIONSHIP HYPOTHESES TESTING RESULT .................... 264
FIGURE 7.2: RESULT OF INDIRECT RELATIONSHIP HYPOTHESES TESTING ........... 269
(THE MODERATING EFFECT OF GOVERNMENT POLICY) ........................................ 269
xiii
LIST OF ABBREVIATIONS
ACLEDA Association of Cambodian Local Economic Development Association
ANU Australian National University
CSD Council for Social Development
EC European Commission
ECFA Engineering Consulting Firm Association
EU European Unions
FSB Financial Sector Blueprint
GDP Gross Domestic Products
HDI Human Development Index
IFC International Finance Corporation
JDI Japan Development Institute
LIs Large Industries
MNCs Multinational Companies
MOC Ministry of Commerce
MPDF Mekong Project Development Facilitator
NIEs Newly Industrialized Economies
NK Nippon Koei Co., Ltd
NPRS National Poverty Reduction Strategy
NSDP National Strategic Development Plan
NUM National University of And management
PIP Public Investment Program
RDB Rural Development Bank
RGC Royal Government of Cambodia
RS Rectangular Strategy
SEDP1 First Socio Economic Development Plan
SEDP2 Second Socio Economic Development Plan
SMEs Small and Medium Enterprises
TS Triangle Strategy
UNDP United Nations Development Program
CHAPTER 1
INTRODUCTION
1.1 Background of the Study
Small and Medium Enterprises (SMEs) sector development is one of the recent key
issues in developing countries (Davidsson, 2004; Gibb, 1982). As a developing
country, the development of SMEs sector in Cambodia is important. The assistance
of SMEs as a support industry helps to strengthen the large industries. SMEs
development is the future candidate of large industry because every large enterprise
has had the experience of starting their business as SMEs. The future of the large
industries is dependent on the development of SMEs.
SMEs development is also an important issue for the labor market because it
employs the labor force and offers wages to workers (Kirchhoff, 1994). In
Cambodia, the development of the SMEs sector could not only be the key issue of
industry development, but also for socio-economic development of the country.
The role of SMEs has been recognized to be important by every nation around the
world. It is considered to be an engine for growth and poverty reduction for the
country through the creation of jobs and incomes for the people (Morris, May,
Godden & Nicholson, 2001; World Bank Group, 2001; Ngasongwa, 2002; Hashim,
2004); domestic production and export (Hisrich & Szirmai, 1993; McMillan &
Woodruff, 2002); entrepreneurial skills and industrial linkages (Chee, 1986; Wyer,
The contents of
the thesis is for
internal user
only
294
REFERENCES
Abdullah, A. M. (2000). Small and medium enterprises in Malaysia: Issues and
challenges in the new millennium. Asian Small Business Review, 3(1), 45-63.
Abdullah, S. H. (2001). Management in Malaysia: A basic text on general
management with local references to management a Malaysian business.
Kuala Lumpur: Malaysian Institute of Management.
Abdullah, N.I. (1998). The role of bank pembangunan in the development of small
and medium scales enterprises. Proceedings of the International Conference
on Small and Medium Scale Enterprises. 3, pp. 83-95. Sintok: Universiti
Utara Malaysia Publisher.
ACLEDA. (1998). Micro finance institutions for the poor. Kingdom of Cambodia:
Association of Cambodian Local Economic Development Agencies.
Acharya, S., Sedara, K., Sotharith, C., & Yadi, M. (1998). Off-farm and non-farm
employment: A perspective on job creation in Cambodia. Cambodia:
Cambodian Development Resource Institute. Working paper 26.
Adams, G. (1993). Influences on the growth of SME: An international comparison.
Entrepreneurship & Regional Development, 5, 73-84.
Adizes, I. (1988). Organizational life cycles: How and why corporations grow and
die and what to do about it. New York: Prentice Hall.
Agarwal, D.C. (1991). Entrepreneurship development: Challenge, problems and
prospects for developing economies with special reference to Indian
economy. The Proceedings of World Conference on Entrepreneurship and
Innovative Change, July 3-5. Singapore.
Aguilar, F. J. (1967). Scanning and the business environment. New York:
Macmillan.
Ahmad, Q. K. (1984). Policies and institutions concerning promotion of rural
industries in Bangladesh. The Bangladesh Development Studies, 12(March),
163-190.
Aiken, L. S., & West, S. G. (1991). Multiple regressions: testing and interpreting
interactions. Sage Publication.
Alchian, A. A., & Demsetz, H. (1972). Production: Information costs and economic
organization. American Economic Review, 62, 777-795.
Allal, M. (1999). Business development services for micro and small enterprises in
Thailand: Micro and small enterprise development and poverty alleviation in
Thailand. Project ILO/UNDP: THA/99/003, Working Paper 1. United
Nations, Geneva.
295
Al-Shaikh, F. N. (1998). Factors of small business failure in developing countries.
Advances in Competitive Research, 6(1), 75-86.
Amer, T.S., & Bain, C.E. (1990). Making small business planning easier. Journal of
Accountancy, 53-60.
Anthony, R. (1965). Planning and control systems: A framework for analysis.
Boston: Harvard Business School.
Arbaugh, J. B., & Sexton, D. L. (1996). New firm growth and development: A
replication and extension of Reynolds’ research. Journal of Enterprising
Culture, 4(1), 19-36.
Arrighetti, A. (1994). Entry, growth, and survival of manufacturing firms. Small
Business Economics, 6(2), 127-137.
Arshad, N. (1998). Industrial development, growth and causality in Malaysia.
Proceeding of International Conference on Small and Medium Scale
Enterprise, 3, pp. 115-125. Sintok: Universiti Utara Malaysia Publisher.
Arthur, M.B., & Hendry, C. (1990). Human resource and management and the
emergent strategy of small to medium-sized business units. The Journal of
Human Resource and Management, 1(3), 233-250.
Asian Development Bank. (2003). Private sector assessment. First draft,
T.A.No.4030 CAM. Phnom Penh, Kingdom of Cambodia.
Atkinson, R.H., & Birch, D. (1979). Introduction to motivation. USA, New Jersey:
Van Nostrand.
Austin, J. J. (1988). Toward an evolutionary-theory of trade associations: The case of
real estate appraisers. AREUEA, Monograph, 16(3).
Babbie, E. (2004). The practical of social research. 10th Edition, USA: Wadsworth-
Thomson Learning Inc.
Bandura, A. (1986). Social foundations of thought and action: A social-cognitive
view. Englewood Cliffs, NJ: Prentice-Hall.
Baker, T. (1994). Doing social research. 2th Edition, Singapore: McGraw-Hill, Inc.
Barber, J., Metcalfe, S., & Porteous, M. (1989). Barriers to growth in small firms.
United Kingdom-London: Routledge.
Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of
Management, 17(1), 99-120.
Barney, J. B. (2001). Resource-based theories of competitive advantage: A ten-year
retrospective on the resource-based view.
296
Barkham, R., Gudgin, G., Hart, M., & Hanvey, E. (1996). The determinants of small
firm growth. Gateshead, Tyne, and Wear, UK: Athenaeum.
Barro, R.J. (1990). Government spending in a simple model of endogenous growth.
Journal of Political Economy, 98 (2), Part 2, 103-126.
Baumback, C.M., Kenneth, L., & Pearce, C.K. (1973). How to organize and operate
a small business. Fifth Edition, USA: Prentice-Hall, Inc.
Baumol, W.J. (1993). Entrepreneurship, management and the structure of payoffs.
Cambridge, MA: MIT Press.
Bennett, M. (1989). Managing growth. London: Longman Group UK Ltd.
Berger, A. N., & Udell, F.G. (1993). Lines of credit: Collateral and relationship
lending in small firm finance. Working Paper (S-93/17), New York
University: Salomon Brothers Center for the Study of Financial Institutions.
Bernadin, H. J., Joyce E., & Russels, A. (1998). Human resource and management:
An experiential approach. Boston: Irwin McGraw-Hill.
Best, M.H. (1990). The new competition: Institutions of industrial restructuring.
Cambridge: Polity Press.
Bird, B. J. (1989). Entrepreneurial behavior. London: Scott, Foresman
Binks, M.R., & Ennew, C.T. (1996). Growing firms and the credit constraint. Small
Business Economics, 8, 17-25.
Binks, M.R., & Ennew, C.T. (1997). The relationship between UK banks and their
small business customers. Small Business Economics, 9, 167-178.
Birley, S., & Muzyka. F.D. (1997). Mastering enterprise: Your single source guide
to becoming an entrepreneur. UK: Pearson Professional Limited.
Boud, D., & Garrich, J. (ed). (1999). Understanding learning at work. London:
Routhledge.
Black, K. (2001). Business statistics: Contemporary decision making. 3th Edition,
South-Western College Publishing, A division of Thomson Learning: USA.
Boardman, C.M., Bartley, J.W., & Ratliff, R.L. (1981). Small business growth
characteristics. American Journal of Small Business, 5(4), 33-45.
Bolash, W.P. (1988). Staying in front of the eight ball: Financing the small business.
Pennsylvania CPA Journal, 59 (1), 16-19.
297
Brockhaus, R. (1982). The psychology of the entrepreneur. In C. Kent, D. Sexton, &
K. Vesper (Eds.), Encyclopedia of entrepreneurship (pp. 39-71). New Jersey:
Prentice-Hall, Englewood Cliffs.
Bryk, A. S., Raudenbush, & Congdon (1996). Hierarchical linear and nonlinear
modeling with the HLM/2L and HLM/3L Programs. Chicago: Scientific
Software International.
Buchele, R.B. (1987) Business policy in growing firms. Business Week, January
19:84-89.
Burton, R. M., & Borge, O. (1998). Strategic organizational diagnosis and design:
Developing theory for application. Boston: Kluwer Academic Publishers.
Caird, S. (1998). Report on the development and validation of a measure of general
enterprising tendency. Durham University Business School: Occasional
Paper No.8913.
Calmorin, P.L.; Calmorin, A.M. (1995). Methods of research and thesis writing.
REX Book Store, Inc. Manila, Philippine.
Cardozo, N.R.; Harmon, B.; & Ardishvili, A. (1995). Understanding new business
growth. In S. Birley, and I.C. MacMillan (Ed.), International
Entrepreneurship, (pp. 3-16). UK: Routledge.
Carsrud, A. L., & Johnson, R.W. (1989). Entrepreneurship: A social psychological
perspective. Entrepreneurship and Regional Development, 1, 21-31.
Carland, J.W.; Hoy, F; Boulton, R.W.; & Carland, C.A.J. (1984) Differentiating
entrepreneurs from small business owners: A conceptualization. Academy of
Management Review, 9(2), 354-359.
Cavanna, R. Y., et al. (2001). Applied business research: Qualitative and
quantitative methods. Singapore: John Willey and Sons Ltd.
Carver, H.R.; Nash, G.J. (2005). Doing data analysis with SPSS version 12.0.
Brook/Cole-Division of Thomson Learning, Inc.; Canada.
Cavusgil, S. T. & John R. N. (1981). On the internal determinants of export
marketing behavior: An empirical investigation. Journal of Marketing
Research, 28 (February), 114-119.
Chamornmarn, W. & Tumtavitikul, S. (2002). Thailand. In Asian Productivity
Organization (Ed.). SMEs in competitive markets (pp. 315-347). Tokyo:
Asian Productivity Organization.
Chalos, P., & Haka, S. (1989). Participative budgeting and managerial performance.
Decision Science, 20(2), 334-246.
Chee, P.L. (1986). Small industry in Malaysia. Berita Publishing Sdn. Bhd., Kuala
298
Lumpur, Malaysia.
Chee, P.L. (1992a). The potential and problems of SMIs. In K.S.Jin & S.Jang-Wong
(Eds.), Cooperation in small and medium scale industries in ASEAN (pp. 29-
51). Malaysia-Kuala Lumpur: Asian and Pacific Development Center.
Chee, P.L. (1992b). SMIs programs. In K.S.Jin & S.Jang-Wong (Eds.), Cooperation
in small and medium scale industries in ASEAN (pp. 75-113). Malaysia-
Kuala Lumpur: Asian and Pacific Development Center.
Chell, E., Haworth, J., & Brearly, S. (1991). The entrepreneurial personality.
London: Routledge.
Chico, A. (1983). Small enterprise and entrepreneurship development. Paper
presented at the workshop on Small and Medium Enterprise Development in
Eleven Asian Pacific Countries; Pattaya, Thailand, Feb.17-22, 1983.
Chow, C.K.W., & Tsang, E.W.K. (1994). Entrepreneurs in China: Development,
functions and problems. International Small Business Journal, 13(1), 63-77.
Churchill, G. A. (1999). Marketing research: Methodological foundations. The
Dryden Press, Forth Worth.
Churchill, N.C., & Lewis, V.L (1986) Entrepreneurship research: Directions and
methods. In Sexton, D.L. and Smilor, R.M. (eds) The Art and Science of
Entrepreneurship (pp333-365). Cambridge, Mass: Ballinger
Churchill, N.C., & Lewis, V.L. (1983). The five stages of small business growth.
Harvard Business Review, 61(3), 30-50.
Clapham, R. (1985). Small and medium entrepreneurs in Southeast Asia. Institute of
Southeast Asian Studies.
Clark, D.; Berkeley, N.; & Steuer, N. (2001). Attitudes to growth among owners of
SMEs and the implications for business advice: Some evidence from the
clothing industry in Coventry. International Small Business Journal, 19(3),
72-76.
Clark, H.A. (2006). When there was no money: Building ACLEDA bank in
Cambodia's evolving financial sector. Germany: Springer Berlin-Heidelberg.
Coakes, J.S. (2005). SPSS version 12.0 for Windows: Analysis without anguish.
Australia: Sydney, John Wiley & Sons Australia, Ltd.
Coakes, J.S.; & Steed, G.L.; (2003). SPSS: Analysis without anguish-version 11.0 for
windows. John Wiley & Sons Australia, Ltd, Australia.
Cohen, M., & Levinthal, D.A. (1990). Absorptive capacity: A new perspective on
299
learning and innovation. Administrative Science Quarterly, 35, 129-152.
Cohen, J., & Patricia C. (1983). Applied multiple regression/correlation analysis for
the behavioral science 2nd Edition. Hillsdale, New Jersey: Lawrence
Erlbaum Assoc.
Cohen, J. (1988). Statistical power analysis for the behavioral science. Hillsdale,
New Jersey: Lawrence Erlbaum.
Collin, O.F., Moore, D.G., & Unwalla, D.B. (1964) The enterprising man. East
Lansing, Michigan: Bureau of Business and Economic Research, Michigan
State University.
Cooper, R.D., & Schindler, S.P. (2001). Business research methods, 7th Edition,
Singapore: McGraw-Hill Book Co.
Creswell, J. W. (1994). Research design: Qualitative and quantitative approaches:
Thousand Oaks, Cal: Sage Publications, Inc.
Council for Social Development. (2002). National poverty reduction strategy, 2003-
2005. Phnom Penh, Kingdom of Cambodia.
Cox, W. L., & Camp, M. S. (2001). International survey of entrepreneurs. Kansas
City: Kauffman Center for Entrepreneurial Leadership at Ewing Marion
Kauffman Foundation.
Cunningham, J.B., & Ho, J. (1994). The dynamics of growth and succession in
entrepreneurial organizations. Journal of Enterprising Culture, 2(1), 571-600.
Czinkota, M. R., & David A. R. (1981). Export assistance: Are we supporting the
best programs? Columbia Journal of Word Business, 16(Summer), 73-78.
Das, K. (1996). Flexibly together: Surviving and growing in a garment cluster,
Ahmadabad, India. The Journal of Entrepreneurship, 5(2), 153-177.
Dart, J., Ng, I., & Sarkar, A. (1998). Comparing the managerial practices of SMEs
from Malaysia, Singapore and Thailand. Paper presented at the Proceedings:
International Conference on Small and Medium Scale Enterprises Vol. 2.
Davidsson, P., & Wiklund, J. (2000). Conceptual and empirical challenges in the
study of firm growth. In D.L. Sexton, H. Landstrom (Eds.), Handbook of
entrepreneurship, (pp. 26-44). USA: Blackwell Publishers Ltd.
Davidsson. (2004). Researching entrepreneurship. New York: Springer.
Davidsson, P., Delmar, F., & Wiklund, J. (2006). Entrepreneurship and the growth
of firms. Cheltenham, UK: Edward Elgar
300
Davis, G., & Michael K. (Eds.). (2000). The future of governance. NSW: Allen-
Unwin.
De Jesus, B. et al. (1984) Guidebook on Thesis Writing. Philippine Association for
Graduate Education. Manila.
Dennis, J. (1998). Review of national social policies. Regional Environmental
Technical Assistance 5771, Poverty Reduction and Environmental
Management in Remote Greater Mekong Sub region (GMS), Watersheds
Project (Phase I), Cambodia.
DeNoble, A., & Moliver, D. M. (1983). The small business dilemma: Can
cooperation help? American Journal of Small Business, 7(1), 51-58.
Development Consulting International (2003). Private sector assessment for the
Kingdom of Cambodia. TA report for the Asian Development Bank, TA
No.4030 CAM, Ministry of Industry Mines and Energy, Phnom Penh,
Cambodia.
Dhal, P.N., & Lydall, H. F. (1961). The role of small enterprise in Indian economic
development. London: Asia Publishing Hours.
Dhungana, B. P. (1993). Promoting effective linkage on small-medium and large
industries in Asia and the Pacific. Small Enterprise Development, 4(3), 14-25,
Dielman, E.T. (2005). Applied regression analysis: A second course in business and
economics statistics. (4th ed.). Brooks/Cole, Thomson Learning: USA
Dijk M, P.V. (1997). Issue in small enterprise development: An overview. Journal of
entrepreneurship, 6(2), 209-221.
Dillon, R.W., Madden, J.T., & Firtle, H.N. (1990). Marketing research in a
marketing environment. Richard D Irwin Inc., USA.
Doan The, T. (Ed.). (2002). Vietnam. In Asian Productivity Organization. SMEs in
competitive markets (pp. 348-376). Tokyo: Asian Productivity Organization.
Dodd, J. L., & Turner, M.A. (2000). Is Benchmarking appropriate for Small
Businesses? The National Public Accountant, 46(6), 36-38.
Dollinger, M. J. (2003). Entrepreneurship: Strategis and resources. New Jersey:
Prentice Hall.
Douglas, P. C., & Benson, W. (2000). Integrating ethical dimensions into a model of
budgetary slack creation. Journal of Business Ethics, 28(3), 267-277.
Dovaldson, L. (Ed). (1995). Contingency theory. Sydney: Dantmouth.
Doyle, P. (1994). Setting business objectives and measuring performance. European
301
and Management Journal, 12(2), 123-132.
Dunk, A. S. (1993). The effect of budget emphasis and information asymmetry on
the relation between budgetary participation and slack. The Accounting
Review, 68(2), 400-410.
Drucker, P. (1986). Innovation and entrepreneurship. London: Pan Books.
Ear, Sophal. (1995). Cambodia’s economic development and history: A contribution
to the study of Cambodia’s economy. Department of Economics, University
of California, Berkeley, USA.
Egeln, J., Licht, G. & Steil, F. (1997). Firm foundations and the role of financial
constraints. Small Business Economics, 9, 137-150.
Eisenhardt, K. M. (1989). Building Theories from Case Study Research. Academy of
Management Review, 14 (4).
Ekanayake, S. (2004). Agency theory, national culture and management control
systems. Journal of American Academy of Business, 4(1/2), 49-54.
Ellis, H.C. (1965). The transfer of learning. New York: MacMillan.
Evans, D., & Jovanovic, B. (1989). Estimates of a model of entrepreneurial choice
under liquidity constraints. Journal of Political Economic, 97(4), 808-827.
Fabella, R.V. (1987). Rural Manufacturing Employment in the Philippines:
Contributions and Determinants. Philippine: Islam Publishing Co.
Fazzari, S., Hubbard, R.G.; & Peterson, B.C. (1987). Financing constraints and
corporate investment. NBER Working Paper No. 2387, Cambridge, MA.
National Bureau of Economic Research.
Ferdows, K. (1980). Start-up of small manufacturing ventures in developing
countries. American Journal of Small Business, 5(2), 12-22.
Filion, J. (1991). Vision and entrepreneurship relations: Elements for an
entrepreneurial metamodel. International Small Business Journal, 9(2), 26-
40.
Finegan, J. (1987). Are bigger banks bad for small business? Inc., 9(13), 161-166.
Finley, L. (1984). Can your small company acquire resources as favorably as the
large company? American Journal of Small Business, 9, 19-25.
Fitzsimmons, J. R., Steffens, P. R., & Douglas, E J. (2005). Growth and profitability
in small and medium sized Australian firms. Melbourne: AGSE
Entrepreneurship exchange
302
Flamholtz, E.G. (1986). How to make the transition from entrepreneurship to a
professionally managed firm. San Francisco: Jossey-Base.
Frank, H., & Landstrom, H. (1997). Entrepreneurship and small business in Europe
economic background and academic infrastructure. In H. Landstrom; H.
Frank; & J.M. Veciana (Eds.), Entrepreneurship and small business research
in Europe (pp. 1-13), Ashgate Public.
Freeman, C. & Soete, L. (1997). The economics of industrial innovation. 3rd Edition,
London: Pinter Co.
Frischtak, C.R. (1990). The protection of intellectual property in Brazil. In F.W.
Rushing & C.G. Brown (Eds.), Intellectual Property Right in Science,
Technology, and Economics Performance (pp. 61-98). Boulder: Westview
Press.
Fulop, G., (1994). Entrepreneurship: Small and medium size enterprises in Northern
Hungary. Entrepreneurship & Regional Development, 6, 15-28.
Funk & Wagnalls (1976). Funk and Wagnalls New Encyclopedia. Funk and
Wagnalls, Inc. New York.
Gartner, W. B. (1997). When growth is the problem, not the solution. Journal of
Management Inquiry, 6(1), 62-68.
Gibb, A. A. (1990). Entrepreneurship and intrapreneurship: Exploring the
differences. In R. Donckels & A. Miettinen (Eds.), New Findings and
Perspectives in Entrepreneurship. England: Gower.
Gibb, A. A. (1987). Enterprise culture: Its meaning and implications for education
and training. Journal of European and Industrial Training, Monograph,
11(2).
Gibb, A., & Davies. L. (1990). In pursuit of frameworks for the development of
growth models of the small business. International Small Business Journal,
9(1), 15-31.
Gibb, A.A. (1996). Entrepreneurship and small business and management: Can we
afford to neglect them in the twenty first century business school? British
Journal of Management, 7(4), 309-322.
Gibb, A., & Ritchie, J. (1982). Understanding the process of starting small business.
International Small Business Journal, 1, 26-45.
Gill, J. (1985). Factors affecting the survival and growth of the smaller company.
Canada: Gower Publishing Company.
Gilad, B., & Levine, P. (1986). A behavior model of entrepreneurial supply. Journal
of Small Business Management, 24, 45-51.
303
Ginn, C., & Sexton, D. (1989). Growth: A vocational choice and psychological
preference. In B.Kirchhoff, W.A Long, W.E. McMullan, K.H. Vesper, and
W.E. Wetzel, Jr. (Eds.), Frontier of Entrepreneurship Research (pp. 612-
625). Wellesley, MA: Babson College.
Goh, D. (1994). Enterprise failures and the runaway entrepreneurial spirit. Journal of
Enterprising Culture, 2(4), 945-953.
Goh, M., & Chew. I. (1996). Public policy and entrepreneurship development:
Singapore style. Journal of Enterprising Culture, 4(1), 79-93.
Ghoshal, S., Hahn, M., & Moran, P. (2002). Management competence, firm growth
and economic progress. Oxford: Oxford University Press.
Good, C.V., & Scates, E.D. (1972) Methods of research. Appleton Century-Crofts,
Inc. New York.
Gorton, M. (1999). Use of financial and management techniques in the U.K-based
small and medium sized enterprises: Empirical Research Findings. Journal of
Financial Management & Analysis, 12(1), 56-64.
Greenwood, E. (1955). Experimental sociology. New York: King’s Crown Press.
Greiner, L. E. (1972). Evolution and revolution as organizations grow. Harvard
Business Review, 50(4), 37-46.
Gupta, A. K. (1984). Contingency linkages between strategy and general manager
characteristics: A Conceptual examination. Academy of Management Review,
9(3), 399-412.
Hair, F.J.; Anderson, E.R.; Tatham, L.R.; & Black, C.W. (1998). Multivariate data
analysis (5th Ed). New Jersey, USA: Prentice-Hall, Inc.
Hair, J.F., Bush, R.P., & Ortinau, D.J. (2003). Marketing research: Within a
changing information environment (2th Ed). New York, USA: McGraw-Hill
Irwin.
Hair, J. Jr., Anderson, R.E., Tatham, R.L.; & Black, W.C. (1995). Multivariate data
analysis with readings. (4th Ed.). New Jersey: Prentice-Hall, Inc.
Hall, G., & Adams, G. (1996). Factors associated with the performance of small
firms: The case of electrical instrumentation. Small Enterprise Research, 4(1-
2), 95-107.
Hanchuan, L., & Zhongqi, W. (2000). A research on the definition of SMEs. In Z.
Zhonglu, G. Guo, Z. Yikun (Eds.), The development and supporting system
for SMEs in Asia-Pacific countries in the 21st century: Proceedings of the 4th
annual Asia-Pacific forum.
304
Hanefah, M.M., & Mohamed Al-Muresy, A.L.S. (1998). Tax incentives and tax
planning for small and medium scale enterprises in Malaysia. Proceedings of
the International Conference on Small and Medium Scale Enterprises, 3, pp.
153-172. Sintok: Universiti Utara Malaysia Publisher.
Hakim, C. (1982). Secondary analysis in social research: A Guide to data sources
and methods with examples. London: Allen and Unwin.
Hakim, C. (1989). Identifying fast-growth small firms. Employment Gazette, 97 (1),
29-41.
Harner M.S. (2003). Financing SMEs in Cambodia: Why do bank find it so
Difficult? Report of a study commissioned by Mekong Project Development
Facility (MPDF). Private Sector Discussion, No. 14. (Kingdom of
Cambodia).
Hashim, M. K. (2000). SMEs in Malaysia: Past, present and future. Malaysian
Management Review, 35(1), 22-30.
Hashim, M.K. (2004). Business practices in Malaysia on small and medium-sized
enterprises. Sintok: Universiti Utara Malaysia Publisher.
Hashim, M.K., & Abdullah, M.S (2000). A proposal framework for redefining SMEs
in Malaysia: One industry one definition? Asian Academy of Management
Journal, 5(1), 65-79.
Hashim, M.K., & Osman I. (2004). An empirical assessment of business practices in
Malaysian SMEs. In M.K. Hashim (Ed.). Business practices in Malaysia
small and medium-sized enterprises (pp.1-14). Sintok: Universiti Utara
Malaysia Publisher.
Haswell, S., & Holmes, S. (1989). Estimating the small business failure rate: A
reappraisal. Journal of Small Business and Management, 68-74.
Havers, M. (1991). NGOs as agencies for small enterprise development. Small
Enterprise Development, 2(3), 14-24.
Hay, M. (1992). Barriers to small firm growth. In N.C. Churchill, S. Birley, W.D.
Bygram, D.F. Muzyka, C. Wallbin, W.E. Wetset Jr. (Eds.), Frontiers of
Entrepreneurship Research (pp. 288-320). Babson Park, MA: Babson
College.
Herri, O. (2002). Analysis of factors influence the performance of Indonesian small
and medium enterprises (A Resource-Base Theory Approach).
Hendrickson, U. L., & Psaroutthakis, J. (1992). Managing the growing firm. USA:
Prentice-Hall, Inc.
305
Hendry, C., Jones, A., Arthur M., & Pettigrew, A.M. (1991). Human resource
development in small to medium-sized enterprises. Research Paper, No. 88,
UK: Sheffield.
Hiebert, D. (1993). Vietnam population census 1989: Detail analysis of sample
result. Hanoi-General Statistic Office: Statistic Publishing House.
Hill, C.W.L. (1998). Differentiation versus low cost or differentiation and low cost:
A contingency framework. Academy of Management Review, 401-412.
Hisrich, R.D., & Szirmai, P. (1993). “Developing a market oriented economy: A
Hungarian perspective”. Journal of Entrepreneurship and Regional
Development, 5, 61-71.
Hofer, C.W. (1980). Turnaround strategies. Journal of Business Strategy, 1, 19-31.
Hoffman, D. A., & Gavin, M. B. (1998). Centering decisions in hierarchical linear
models: Implications for research organizations. Journal of Management,
24(5), 623-641.
Honarday, J. A. (1982). Who is entrepreneur? In R. Donckels & A. Miettinen (Eds.),
New findings and perspectives in entrepreneurship. England: Gower
Publishing Co.,
Howard, J.S. (1989). Smart financial and management. D&B Reports, 37 (1), 38-42.
Hoy, F., McDougall, P. P., & D'Souza, D. E. (1992). Strategies and environments of
high growth firms. In D. L. Sexton & J. D. Kasarda (Eds.), The state of the
art of entrepreneurship, (pp. 341-357). Boston: Kent.
Huber, G.O. (1991). Organizational learning: The contribution process and the
literatures. Organizational Science, 2 (1), 88-115.
Hull, C.J. (1990). Comment on technology strategy in small and medium-sized firms.
In Z.J., Acs & D.B. Audretsch (Eds), The economics of small firms: A
European challenge. Dordrech: Kluwer Academic Publishers.
Husain, I. (2004) Why lend to small and medium enterprises? Training Workshop for
SMEs Lending, Karachi, 2004, April 12.
Hussin, H., (1996). Personal values and identity structures of Malay and Chinese
entrepreneurs in Malaysia. Unpublished doctoral thesis, Cranfield
University: School of Management, UK.
Hutcheson, G., & Nick Sofroniou. (1999). The Multivariate social scientist:
Introductory statistic using generalized linier modes. Thousand Oaks, CA:
Sage Publications.
306
Ibrahim, M.D., (1999). Empirical investigation on the adoption of project appraisal
practice and access to finance by SMIs in Malaysia. In M.A. Abdullah,
M.I.Hj. Bakar, J. Ali & L.J. Heng (Eds), Proceedings of the International
Conference on Small and Medium Enterprises. Sintok: Universiti Utara
Malaysia Publisher.
IFC, World Bank Group-SME. (2002). Review of small business activities.
Washington DC: Jarboe Printing Company.
Indrawati, S.M. (1999). Competition policy and its relevance to SMEs. In R. Brazier
& S. Sianipar (Eds.). Indonesia's anti-monopoly law and its impact on small
and medium enterprises (pp. 17-21). Indonesia-Jakarta: The Asian
Foundation
Islam, R. (Ed.). (1987). Rural industrialization and employment in Asia. New Delhi:
ILO/ARTEP.
Ismail, R., & Darawi, Z. (1998). Linkage of SMEs: Where are they heading. Paper
presented at the Proceedings of the International Conference on Small and
Medium Scale Enterprises, 2, Universiti Utara Malaysia Publisher.
Jan, N.Hj.Md., Sab. Hj. J.C.; & Shaari, J. (1998). Strategies toward improving SMIs
in Malaysia with particular reference to the manufacturing sector. Paper
presented at the Proceedings of the International Conference on Small and
Medium Scale Enterprises, 3, Universiti Utara Malaysia Publisher.
Jankowicz, A.D. (1991). Business research for students, Chapman and Hall.
Janssen, P. (1993). The best yet to come. Asian Business Review, 29(7), 28-37.
Jensen, M. C. (2000). Theory of the Firm: Governance, Residual Claims, and
Organizational Forms. Cambridge, MA: Harvard University Press.
Jin, K.S., (1992). Introduction. In K.S.Jin & S.Jang-Wong (Eds.), Cooperation in
small and medium scale industries in ASEAN (pp.1-6). Malaysia-Kuala
Lumpur: Asian and Pacific Development Center.
John, D. (1959). The quest for certainty. Minton, Balch and Company. New York.
Johnson, D. (1993). Driver behavior and business outcomes: An alternative approach
to the psychology of the owner-manager. Journal of Entrepreneurship and
Regional Development, 5, 369-383.
Jovanovic, B. (1982). Selection and the evolution of industry. Journal of
Econometrica, 50(3), 649-670.
Kalesnikoff, D. (1998). The role of consultants with small and medium scale
enterprises. Paper presented at the Proceedings of the International
Conference on Small and Medium Scale Enterprises, 2, Universiti Utara
Malaysia Publisher.
307
Kam, B. C. (1994). The mechanics of sustaining an enterprise. Journal of
Enterprising Culture, 2(1), 601-615.
Kantilal, Ila. (1994). Entrepreneurship and survival strategy in a sick traditional
industry: The case of the Ahmadabad textile industry. The Journal of
Entrepreneurship, 3(1), 21-53
Kawakami, T. (2002). Country study for Japan's official development assistance to
the Kingdom of Cambodia: From reconstruction to sustainable development.
Institute for International Cooperation/Japan International Cooperation
Agency, Cambodia.
Kazanjian, R.K. (1988). Relation of dominant problems to stages of growth in
technology-based new ventures. Academy of Management Journal, 31(2),
257-279.
Kazmier, J.L. (1996). Theory and problems of business statistics: Introduction to
business statistics and intermediate business statistics. Third edition,
McGraw-Hill Companies, Inc. USA.
Keasey, K., & Watson, R. (1994). The bank fiinancing of small firms in U.K.: Issues
and evidence. Small Business Economics, 6, 349-362.
Kee, C.H., & Chang, Z.Y. (1985). Finance and performance of small manufacturing
firms in Singapore. International Small Business Journal, 4 (2), 25-35.
Keeble, D. (1990). Small firms, new firms and uneven regional development. Area,
22, 234-245.
Keeble, D., & Wever, E. (Eds.). (1987). New firms and regional development in
Europe. London: Croom Helm.
Kerlinger, F. N. (1986). Foundation of behavioral research. 3rd edition, Holt
Rinehart and Winston. New York.
Kets de Vries, M. (1977). The entrepreneurial personality: A person at the
crossroads. Journal of Management Studies, 14(1), 34-57.
Khan, Md.M.R. (2002). Bangladesh. In Asian Productivity Organization (Ed.) SMEs
in competitive markets (pp. 1-28). Tokyo: Asian Productivity Organization.
Khan, R.M. & Rocha, R. J.Jr. (1983). Recurring managerial problems in small
business. American Journal of Small Business, 7(1), 50-58.
Kim, Y. & Choi, Y., (1994). Strategic types and performances of small firms in
Korea. International Small Business Journal, 13(1), 13-25.
Kinnear, R.P, & Gray, D.C. (2000). SPSS for windows made simple: Release 10.
Psychology Press, Ltd.; UK.
308
Kinnear, P. R., & Gray, Colin D. (2004). SPSS 12 Made Simple: Psychology Press.
Kirby, D. (2003). Entrepreneurship. UK: McGraw-Hill Education.
Kirchhoff, B. A. (1994). Entrepreneurship and Dynamic Capitalism. Westport, CT:
Quorum Books.
Kirkpatrick, A.L., & Feeney, C.B. (2005). A simple guide to SPSS for Windows:
Version 12.0. Thomson Wadsworth, USA.
Kirzner, I. M. (1979). Perception, opportunity and profits: Studies in the theory of
entrepreneurship. Chicago: University of Chicago Press.
Kolvereid, L. & Bullvage, E. (1996). Growth intensions and actual growth: The
impact of entrepreneurial choice. Journal of Enterprise Culture, 4(1), 1-17.
Kong-wing, C.C. (1992). Entry and exit process of small business P.R China’s retail
store. International Small Business, 15(1): 41-58.
Kotler, P. & Cox, K. K. (1988). Marketing, management and strategy. (4th Ed.).
New Jersey-Englewood Cliffs: Prentice-Hall.
Kumar, R. (1996), Research methodology: A step-by-step Guide for beginners. South
Melbourne Australia: Addison Wesley Longman Australia Pty Limited,
Kyambalesa, H. (1994). Successful in managing a small business. UK: Ashgate
Publishing Ltd.
Latif, A.A., Khan, M.K.J., Abdullah, M.A, & Ali, J. (2000). Support system for
indigenous small and medium entrepreneurs in Malaysia. In Z. Zhonglu, G.
Guo, & Z. Yikun (Eds.), The development and supporting system for SMEs in
Asia-Pacific countries.
.
Latif, A.A., Shanmugam, B. (1998). Survival strategies for SMEs in Malaysia.
Proceedings of the International Conference on Small and Medium Scale
Enterprises, 3, 187-201. Sintok: Universiti Utara Malaysia Publisher.
Lavigne, A. (1999). Standards with differential. CA Magazine, 132, 49-50.
Lawler, E. E., & Ledford, G. (1992). A skill-based approach to human resource and
management. European Management Journal, 10(4), 383-391.
Lavy, Y.; Kheng L., & Pory S., (2003). Socioeconomic of Chong Khneas
communities. Research supported by UNISCO, Cambodia, January 2003.
Lazonick, W., & O’sullian, M. (1998). Governance of innovation for economic
development. Innovation Systems and European Integration Working Paper.
Sweden: Linkoping University, Department of Technology and Social
Change, March.
309
Lee, M., Nyean, L.L., Kune, H.M., Wai, H.K., Tan, A., & Teo, S. (1991).
Contribution of government assistance schemes to the development of
entrepreneurship activities in Singapore. In J.C. Oliga & T.B. Kim (Eds.).
Proceeding of World Conference on Entrepreneur.
Leibowitz, A. (2000). News: NGA policy academy entrepreneur strategy. Venture
Capital Journal, July 1.
Leipziger, D.M. (1999). Awakening the market: Vietnam's economic transition.
World Bank Group Paper, Monograph, No. 157. Washington DC: USA.
Levy, B. (1992). Obstacles to developing indigenous small and medium enterprises:
An empirical assessment. The World Bank Economic Review, 7(1), 65-83.
Liang, T.W. (2002). Singapore. In Asian Productivity Organization (Ed.) SMEs in
competitive markets (pp. 281-293). Tokyo: Asian Productivity Organization.
Lin, M.J. (2002). SMEs in competitive markets: People Republic of China. Report of
APO survey on role and adaptation of SMEs under the changing industrial
structure (pp. 29-50). APO: Asian Productivity Organization.
Litvak, I. A. & Maule, C.J. (1980). Entrepreneurial success or failure: Ten years
after. Business Quarterly, 5(4), Winter.
Long, J. S. (1997). Regression models for categorical and limited dependent
variables. Thousand Oaks, CA: Sage Publications.
Lyles, M.A., Baird, I.S., & Orris, J.B., (1995). Entrepreneurship in a transition
economy: An examination of venture creation in Hungary. Journal of
Enterprising Culture, 3(1), 59-83.
Mahmud, A. A. (1981). Malay entrpreneurship: Problem in development-A
comparative empirical analysis. Malaysia: Prime Minister's Department.
McMahon, R. G. P. (1998). Commerce. Research Paper Series. 98-5.
McMahon, R. G. P. (1998). Stage models of SME growth reconsidered: Small
Enterprise Research: The Journal of SEAANZ, 6(1998).
McMahon, R.G.P. (2001). Growth and performance of manufacturing SMEs:
Influence of financial and management characteristics. International Business
Journal, 19(3), 10-29.
McMahon, R. G. P., & Holmes, S. (2001). Small business financial and management
practices in the North America: a literature review. Journal of Small Business
Management.
310
Magner Nace, W., Robert B., & Johnson G. G. (1993). Evidence of value-expressive
participation effects in budgeting. Journal of Applied Business Research,
9(2), 104-112.
Mallery, P. (2005). SPSS for Windows Step By Step, A Simple Guide and Reference.
Boston, Us: Pearson Education, Inc.
Mannan, A.M. (1993). Growth and development of small enterprise: Case of
Bangladesh. UK: Ashgate Publishing Co.
Marcum, R.E., & Boshell, E.O. (1967). Financing the small and medium-size
business. Management Review, 52, 4-12.
Marshall, R., Leong, D., Choo, J., Koh, S., & Thay, P. (1995). Critical success
factors for Singapore companies operating in the Peoples' Republic of China.
Journal of Enterprising culture, 3(1), 85-101.
McClelland, D.C., Atkinson, J., Clark R.A., & Lowell E.L. (1953). Achievement
motive. Appleton: Century Crofts.
McClelland, D.C. (1961). The Achieving Society. New Jersey, Princeton: D. Van
Nostrand.
McClelland, D. C. (1965). Achievement motivation can be developed. Harvard
Business Review, November-December, 6, 178.
McKenna, J.F., & Oritt P.L. (1979). Small business: Growth or non-growth.
Proceeding of the National Academy of Management, Summer.
McMillan, J., Woodruff, C., (2002). The central role of entrepreneurs in transition
economies. Journal of Economic Perspectives, 16(3), 153-170.
McTavish, G.D., & Loether, J.H. (2002). Social Research: An evolving process. 2th
Edition, Pearson Education Company, USA.
Meier, J.K., & Brudney, L.J. (1987). Applied statistics for public administration.
Revise edition, Brooks/Coles Publishing Company-Division of Wadsworth,
Inc. USA.
Meyanathan, S.D., & Munter, R. (1994). An overview. In S.D. Meyanathan (Ed.).
Industrial structure and the development of small and medium enterprise
linkages: Example from East Asia (pp. 1-22). Washington DC: The
International Bank for Reconstruction.
Meyanathan, S. D. (1994). Industrial structures and the development of small and
medium enterprise linkages-Examples from East Asia. Paper presented at the
EDI Seminar Series.
311
Ministry of Commerce. (1998). Cambodia: The reemergence of new opportunities.
Phnom Penh, Cambodia: Ministry of Commerce.
Ministry of Commerce. (2000). Cambodia: Opportunities for the new millennium,
business and investment handbook. Cambodia: Ministry of Commerce.
Ministry of Council of Ministers. (2003). The significant achievements made by the
Royal Government of Cambodia: 1998-2002. Phnom Penh March 2003,
Cambodia.
Ministry of Economic Affairs (1997). White paper on small and medium enterprise
in Taiwan. Taipei, Taiwan.
Ministry of Planning (1999). Great population census of Cambodia 1998: Final
census results. Published by Ministry of Planning, Kingdom of Cambodia.
Mintzberg, H. (1989). Mintzberg on management. New York: The Free Press.
Mohamad, Z.A., Rashid, Md.Z A., & Sidin, S.Md. (1998). Marketing practices of
Malaysian small scale enterprises in food sector. Proceeding of the
International Conference on Small and Medium Scale Enterprises, 3, 1-18.
Malaysia: Penerbit Universiti Utara Malaysia.
Mohamed, H.H., Wahab, I.A., Lau T.K., Ibrahim, M.D., & Mohamad, R. (1992).
Business failure in Malaysia. World Conference on Entrepreneurship.
Singapore: ENDEC, NTU-Peat Marwick Entrepreneurship Development
Centre.
Mohd Shariff, M.N. (2003). An evaluation of a government-backed loan scheme in
Malaysia. Sintok: Universiti Utara Malaysia Publisher.
Montagno, R.V., Kuratko, D.F., & Scarcella, J.H. (1986). Perception of
entrepreneurial success characteristics. American Journal of Small Business,
10(3): 25-32.
Monk, R. (2000). Why small businesses fail. CPA Management, 74(6), 12
Morris, T., May J., Godden, J., & Nicholson, E. (2001). Small/medium enterprise
assessment and strategy development. U.S Agency for International
Development (USAID)/Bulgaria.
Morton-Williams, J. (1977). Unstructured design work. In Hoinville, G. and Jowell,
E. (eds.) Survey Research Practice (pp9-26). London: Heinemann.
MPDF. (1997). Medium and large private companies in the Lao PDR. Mekong
Project Development Facility Agency (MPDF): Private Sector Discussion
Series, March 20.
312
MPDF. (1999). Private companies in Vietnam: A survey of public perception.
Private Sector Discussion No. 9. Published by Mekong Project Development
Facility (MPDF).
Mulger, J. (2000). The climate for entrepreneurship in European countries in
transition. In D. Sexton, H. Landstrom (Eds.), Handbook of
Entrepreneurship. (pp. 150-175). USA: Blackwell Publisher Inc.
Nagel, S. S. (Ed.). (1994). Encyclopedia of policy studies. New York: Marcel Dekker
Nash, M. (1993). Managing organizational performance. San Francisco: Jossey-Bass
Publishers.
National Institute of Statistics. (2003). The statistical year book 2003. National
Institute of Statistics, Ministry of Planning, Kingdom of Cambodia.
Neilson, R.E., & Mwaura, M.F. (1997). Growth strategies of medium sized firms in
Kenya. The Journal of Entrepreneurship, 6(1), 53-74.
Ngasongwa, J. (2002). Small and medium enterprises development policy. Ministry
of Industry and Trade, United Republic of Tanzania.
NK, JDI, ECFA (2000). Cambodian economy revitalization program: Historical
chance for Cambodia 2001-2010 with half million jobs creation by the SEZ
program. Published Nippon Koei Co., Ltd (NK), Japan Development Institute
(JDI), Engineering Consulting Firm Association
Norusis, J.M. (2000). SPSS 10.0: Guide to data analysis. Copyright by INSO
Corporation; Published by Prentice-Hall Inc.; New Jersey, USA.
Ohmae, K. (1990). The borderless world. New York: Harper & Row.
Olsen, B., & Johannessen, J.A. (1994). The relation between ability and post start up
success for entrepreneurs. Journal of Enterprise Culture, 2(3), 817-831.
Parel, C.P., et al. (1978). Data Analysis and Interpretation. PSSC Social Survey
Series No. 3. Philippine Social Science Council. Quenzon City.
Pendeliau, G. (1996). From business creator to businessman: A strategic distinction.
Journal of Enterprise Culture, 4(2), 123-146.
Penrose, E. (1995). The theory of the growth of the firm. Oxford: Oxford University
Press.
Penrose, E. (2000). The Firm in Theory (Vol. II). London: Routledge.
Peter, J. P. (1981). Construct Validity: A Review of Basic Issues and Marketing
Practices. Journal of Marketing Research, 18(May).
313
Peterson, R. A., Kozmetsky, G., & Ridgway, N.M. (1983). Perceived causes of small
business failures: A research note. American Journal of Small Business, 8(1),
15-19.
Petrakis, P.E. (1997). Entrepreneurship and growth: Creative and equilibrating
events. Small Business Economics, 9(5), 383-402.
Pilgrim, M. (1994). Policy induced constraint on small enterprise development in
Asian developing countries. Small Enterprise Development, 15(2), 14-38.
Plaschka (1990). Person related and micro social characteristics of successful and
unsuccessful entrepreneurs. In R. Donckels, A. Miettinen (Eds.), New
Finding and Perspectives in Entrepreneurship (pp. 187-202). Aldershot:
Gower.
Porter, M.E. (1980). Competitive Strategy. New York: Free Press.
Potts, N. (1997). National economic sovereignty and the single European currency.
European Business Review, 97(1).
Pope, P. (1984). Information asymmetry in participative budgeting: A bargaining
approach. Journal of Business Finance & Accounting, 11(1), 41-59.
Raudenbush, S. W., & Anthony S. Bryk (2002). Hierarchical linear models:
Applications and data analysis methods (Second ed.). Thousand Oaks, CA:
Sage Publications. Advanced Quantitative Techniques in the Social Sciences
Series No. 1.
Rao Sampath, M.S. (1997). The entrepreneurial competency index: An assessment
tool for financial institute. The journal of Entrepreneurship, 6(2), 197-208.
Ray, D. M. (1986). Perceptions of risk and new enterprise formation in Singapore.
Frontier of Entrepreneurship Research. Wellesley, MA: Babson College.
Richardson, S., Guru, K.B., Yu, M.C., Wei, K.K., & Pointon, L. (2005). How to
research: A guide for undergraduate & graduate students (pp 40-41).
Thomson Learning-Division of Thomson Asia Pte Ltd., Malaysia,
Ricupero, R., & Cattaui, L.M. (2003). Cambodia: An investment guide to Cambodian
opportunities and conditions. United Nations, New York/Geneva.
Riedel, J., & Tran, C.S. (1997). The emerging private sector and the industrialization
of Vietnam. Private Sector Discussions, No.1. Hanoi: MPDF(Mekong Project
Development Facility),
Robert, D. C. (2000). Sustainable small enterprise development in a Cuban transition
economy. Comparative International Development, 34(4), 100-123.
Robock, S.H. (1971). Political risk: Identification and assessment. Columbia Journal
of World Business. 6(4), 6-20.
314
Robson, C. (1993), Real world research-A resource for social scientists and
practitioner researchers, Blackwell Publishers.
Robins, P. S. (1996). Organization behavior: Concepts, controversies, applications
7th Ed.: Prentice-Hall Inc.
Robinson, R. B. J. (1982). The importance of ‘outsiders’ in small firm strategic
planning. Academy of Management Journal, 25(1), 80-93.
Romano, C.A. & Ratnatunga, J. (1995). Effects of formal planning and control on
growth: A case study approach. Journal of Enterprising Culture, 3(2): 161-
195.
Rooney, D.F. (2000). Angkor: An introduction to the temples. Hong Kong: Odyssey
Publication.
Roper, S. (1997). Product innovation and small business growth: A comparison of
the strategies of German, U.K. and Irish Companies. Small Business
Economic, 9, 523-537
Rosenborg, L. J., & Czepiel, J.A. (1983). A Marketing Approach to Customer
Retention. Journal of Consumer Marketing, 2.
RGC. (1996). First five year socioeconomic development plan for 1996-2000.
Kingdom of Cambodia: Ministry of Planning.
RGC. (2001a). Financial sector blueprint for 2001-2010. Phnom Penh, Cambodia,
August 24, 2001.
RGC. (2001b). Second five year socioeconomic development plan for 2001-2005:
National economic growth and poverty reduction strategy. Kingdom of
Cambodia: Ministry of Planning.
RGC. (2002). Socioeconomic development priorities and the official development
assistance needs: For consultative group meeting for Cambodia on June
2002. Phnom Penh, Cambodia: RGC.
RGC. (2004). Speech addressed by Prime Minister Samdech Hun Sen on the
Rectangular Strategy: For growth, employment, equity, and efficiency. The
Office of the Council of Ministers, 16 July 2004, Phnom Penh, Cambodia.
RGC. (2006). National strategic development plan for 2006-2010: For growth,
employment, equity and efficiency. Approved by the Council of Ministers
Meeting on 27 January 2006. Cambodia: Ministry of Planning.
RGC & SMEs Sub-Committee. (2005). Small and medium enterprise development
framework. Cambodia: SMEs Sub Committee.
315
Rumelt, R. R. (1984). Towards a strategic theory of the firm. Englewood Cliffs: NJ:
Prentice-Hall.
Scase, R. & Goffee, R. (1986) Why managers turn entrepreneur. Management
Today: August—pp 44-46.
Schmitz, H. (1982). Growth constraints on small-scale manufacturing developing
countries: A critical review. World Development Journal, 10(6), 429-450.
Schultz, T. W. (1975). The value of the ability to deal with disequilibrium. Journal of
Economic Literature, 13(2), 827-846.
Schumpeter, J. A. (1934). The theory of economic development: An enquiry into
profits, capital, credits, interest, and business cycle. Translated R. Opie.
Cambridge: Harvard University Press.
Segal, Quine &Partners. (1985). The Cambridge phenomenon: The growth of high
technology in a university town. Cambridge: Segal, Quine and Partners.
Sekaran, U. ((2000). Research methods for business: A skill building approach. (3th
Ed.). USA: John Wiley & Sons Inc.
Sevilla, C.G. et al. (1992). The introduction to research methods. Manila: Rex Book
Store.
Shah, I.A., Yin, Y., & Amin, N. (1998). Production and marketing problems of small
and medium scale industries in Sarawak. Proceedings of the International
Conference on Small and Medium Scale Enterprises, 3, 213-240. Sintok:
Universiti Utara Malaysia.
Shahadan, F., Berma, M., Zin, M.R., & Mahbar, Z. (1998). The growth constraints of
small and medium enterprise in Malaysia: Myth or reality? Proceeding of the
International Conference on Small and Medium Scale Enterprise, 3, 277-303.
Sintok: Universiti Utara Malaysia Publisher.
Shapero, A. & Sokol, L. (1982). The social dimension of entrepreneurship. In C.A.
Kent, D.L. Sexton, & K.H. Vesper (Eds.), Encyclopedia of Entrepreneurship
(pp. 72-90). Eaglewood Cliffs NJ: Prentice Hall.
Sharpe, S. A. (1989). Asymmetric information, bank lending and implicit contract: A
stylized model of customer relationship. Finance and Economic Discussion
Series No.7. Washington DC: Federal Reserve Board, May.
Simons, R. (1991). Strategic orientation and top management attentions to control
system. Strategic Management Journal, 49-62.
Siu, W.S. (1992). Corporate entrepreneurs in the People's Republic of China:
Problems encountered and respective solutions. International Small Business
Journal, 10(4), 26-33.
316
Siwa, C., Jaafar, Abd. H., & Zin, A.M. (1998). Rural small scale industries:
Empirical evidence and policy issues. Proceeding of International
Conference on Small and Medium Scale Enterprises, 3, 127-152. Sintok:
Universiti Utara Malaysia Publisher.
Smallbone, D. (1990). Success and failure in new business start-ups. International
Small Business Journal, 8(2), 34-47.
Smallbone, D. (1995). The survival, growth and support needs of manufacturing
SMEs in Poland and the Baltic States. Paper presented at seminar on
Developing Research Agenda. Poland: University of Lodz.
SMIDEC. (2004). SME performance 2003. Kuala Lumpur: Small and Medium
Industries Development Corporation.
Smith, N.R. (1967). The entrepreneur and his firm: the relationship between type of
man and type of company. Bureau of business and economic research,
division of research, Graduate School of Business Administration, Michigan
State University, East Lansing Michigan.
Sombart, W. (1950). The Quintessence of capitalism: A study of the history and
psychology of the modern business Man (translated M. Epstein). London:
Fisher and Unwin.
SPSS Inc., (1999). The SPSS base 10.0: User's guide. SPSS Inc., United State of
America.
Starr, J. & Bygrave, W. (1991). The second time around: the outcomes, assets and
liabilities of prior start-up experience. Paper presented at the Inaugural
Global Conference on Entrepreneurship Research. London: February 18-20.
Stevenson, H. H., & Gumpert, D.E. (1985). The Heart of Entrepreneurship. Harvard
Business Review, March-April, 85-94.
Stoll, H. R., & Curley, A. J. (1970). Small business and new issues market for
equities. Journal of Financial and Quantitative Analysis, 5(3), 309-322.
Stoner, C. (1983). Planning in small manufacturing firms: A survey. Journal of
Financial and Quantitative Analysis, 21 (1), 34-41.
Storey, D. J., Watson, R., & Wynarczyk, P. (1989). Fast-growth small business:
Case studies of 40 small firms in Northern England. London: Department of
Employment.
Stuart, R.W. & Abetti, P.A. (1988). Field Studies of Technical Venture-Part III: the
impact of entrepreneurial and management experience on early performance.
In Frontiers of Entrepreneurship Research, Babson College, 177-193.
317
Susanti, A. (2002). Indonesia. In Asian productivity organization (Ed.) SMEs in
competitive markets, (pp. 74-92). Tokyo: Asian Productivity Organization.
Suzuki, M. (1998). An Outline of Japan’s Policies for Small/Medium Enterprises.
Paper presented at the Proceedings of the International Conference on Small
and Medium Scale Enterprises, Vol.2, Sintok: Universiti Utara Malaysia
Publisher.
Swierczek, F.W., & Jatusripatak, S. (1994). Exploring the entrepreneurship cultures
in Southeast Asia. Journal of Enterprising Culture, 4(2), 687-708.
Szegedi, Z. (1989). The economy and international business in Hungary. Journal of
Business Administration, 19(1&2), 109-120.
Tambunan, T. (1992). The role of small firms in Indonesia. Small Business
Economics, 4(1), 59-77.
Tambunan, T. (1994). Rural small scale industries in a developing region: A sign of
poverty or progress?-A case study in Ciomas Subdistrict, West-Java province,
Indonesia. Entrepreneurship & Regional Development, 6, 1-13.
Tambunan, T. (1999). Perkembangan industri kecil di Indonesia. Jakarta: PT.
Mutiara Sumber Widya.
Tan, W.C.M; & Tay, R.S.T.; (1995). Factors contributing to the growth of SMEs:
The Singapore case. Journal of Enterprising Culture, 3(2), 197-210.
Teo, S. & Cheong, S. (1994). Difficulty faced by SMEs in Obtaining from financial
institutions. Journal of Enterprising Culture, 2(4), 955-968.
Terpstra, D.E. & Olson, P.D. (1993). Entrepreneurial start-up and growth: A
classification of problems. Entrepreneurship Theory and Practice, Spring: 5-
20.
Tervo, H., & Niittykangas, H. (1994). The impact of unemployment on new firm
formation in Finland. American Small Business Journal, 13(1), 38-53.
Thongpakde, N., Puppahavesa, W., & Pussarangsri, B. (1994). Thailand. In S.D.
Meyanathan (Ed.). Industrial structure and the development of small and
medium enterprise linkages: Example from East Asia (pp. 123-149).
Washington DC: The International Bank for Reconstruction and
Development.
Thyer, B. A. (1993). Single system research design. In R.M Grinnel (ed.), Social
Work, Research and Evaluation, (4th ed.), Illinois: F.E. Peacock Publishers.
Trang, N.P.Q; Anh, B.T., Tien, H.M., Thanh, H.X., & Thu, N.T.H.; (2001). Doing
business under the new enterprise law: A survey of newly registered
companies. Private Sector Discussions, No.12. Published by Mekong Project
318
Development Facility (MPDF).
Tsui, J. S. L. (2001). The impact of culture on the relationship between budgetary
participation, and management accounting systems, and managerial
performance: An analysis of Chinese and western managers. The
International Journal of accounting, 36, 125-146.
Tusneem, E. M. (2003). Private Sector Assessment: People's Republic of China.
Philippines, Manila: Asian Development Bank-Head Office.
Turner, R. (1997). Management accounting and SMEs: A question of style?
Management Accounting, 75(7), 24-25.
Turok, I. (1991). Which small firms grow?, Recent Research in Entrepreneurship.
Ueda, T. (1995). Opportunities and constraints in the informal sector in Cambodia.
Paper Prepare for World Bank, Cambodia: World Bank, September.
United Nations. (2001). Country presentation by the RGC. Paper presented at the
Third United Nations on the Least Development Countries. Brussels, 14-20
May 2001.
Van Auken, H.E., & Carter, R.B. (1989). Acquisition of capital by small business.
Journal of Small Business Management, 27, 1-9.
Veblen, T. (1965) The engineer and the price system. New York: A.M. Kelley
Booksellers.
Wallace, A. F. C. (1961). Culture and Personality. New York: Random House.
Wahab, I. (1996). Financing the growth of small manufacturing firms in developed
and developing countries: A comparative study of the United Kingdom and
Malaysia. Unpublished doctoral dissertation. Loughborough University.
Watson, J. & Everett, J. (1993). Defining small business failure. International Small
Business Journal, 11(3): 35-48.
Weaver, K. M., Berkowitz, D., & Davies, L. (1998). Increasing the Efficiency of
National Export Promotion Programs: The Case of Norwegian Exporters.
Journal of small Business Management, October: 1-11.
Webster, L. (1999). SMEs in Vietnam: On the road to prosperity. Private Sector
Discussions, No. 10. Published by Mekong Project Development Facility
(MPDF).
Webster, L., & Boring, D. (2000). The private manufacturing sector in Cambodia: A
survey of 63 firms. Mekong Project Development Facility (MPDF), No. 11,
November, 2000.
319
Webster, L.A. (1998). Applied statistics for business and economics: An essentials
version. (3rd ed.). Singapore: McGraw-Hill Companies, Inc.
Wie, T.K. (1994). Indonesia. In S.D. Meyanathan (Ed.). Industrial structure and the
development of small and medium enterprise linkages: Example from East
Asia (pp. 95-122). Washington DC: The International Bank for
Reconstruction and Development.
Wie, T.K. (1999). Executive summary. In R. Brazier, S. Sianipar (Eds.). Indonesia's
anti-monopoly law and its impact on small and medium enterprises (pp. 5-
15). Indonesia-Jakarta: The Asian Foundation.
Wijewardena, H. & Cooray, S. (1996). Factors contributing to the growth of small
manufacturing firms: perception of Japanese owners/managers. Journal of
Enterprising Culture, 4(4), 351-361.
Withane, S. (1996). Broadening the concept of entrepreneurship: A multidisciplinary
approach. Journal of Enterprising Culture, 4(3), 225-240.
Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management
Journal, 5((April-June)), 171-180.
Wong, S.T. (1994). Industrial structure and the development of small and medium
enterprise linkages: In S.D. Meyanathan (Ed.). Singapore: Example from
East Asia, (pp. 67-93). Washington DC: The International Bank for
Reconstruction and Development.
World Bank Group (2004). Cambodia seizing the global opportunity: Investment
climate assessment and reform strategy. Financial and Private Sector
Development Unit, East Asia and the Pacific Region, Report No. 27925-KH.
World Bank, IFC, & MPDF (2004). Toward a private sector development strategy
for Cambodia investment climates assessment. Published by World Bank,
International Finance Corporation (IFC), Mekong Project Development
Facility (MPDF), The first draft report on
Wyer, P. (1999). The implication of the economic crisis for SMEs: A micro
perspective. In M.A. Abdullah, M.I.Hj. Bakar, J. Ali, & L.J. Heng (Eds), The
International Conference on Small and Medium Enterprises at New
Crossroads: Challenges and Prospects, Absracts.
Yeo, A.M. (Ed.). (1994). Academic essays on current issues in Cambodia. Published
by Cambodia Development Resource Institute (CDRI), Phnom Penh,
Cambodia.
Young, S. M. (1985). Participative budgeting: The effects of risk aversion and
asymmetric information on budgetary slack. Journal of Accounting Research,
22(2), 829-842.
Zikmund G.W. (2003). Business research methods (7th ed.). USA: South-Western,
320
Division of Thomson Learning.
Zikmund, G.W. (1991) Exploring marketing research. USA: The Dryden Press,
International Edition.
Zulpilip, T., & Ling, I.S.S. (1998). Small scale industry in Sarawak and its future
role in the state economy. Proceeding of the International Conference on
Small and Medium Scale Enterprises, 3, 1-18. Sintok: Universiti Utara
Malaysia Publisher.
Zwiek, J. (1964). A handbook of small business finance (7th ed.). Business
Management Series, 15.
doc_649698594.pdf
Detailed information concerning relationships between entrepreneurs value, firm financing, firm management.
RELATIONSHIPS BETWEEN ENTREPRENEUR’S VALUE, FIRM
FINANCING, FIRM MANAGEMENT, MARKET PRACTICES, AND
GROWTH PERFORMANCE OF SMALL-MEDIUM ENTERPRISES
IN CAMBODIA
By
CHEA PEOU
Thesis Submitted to the Centre for Graduate Studies,
Universiti Utara Malaysia,
in Fulfillment of the Requirement for the Degree of Doctor of Philosophy
August 2009
i
CENTRE FOR GRADUATE STUDIES
UNIVERSITI UTARA MALAYSIA
PERMISSION TO USE
In presenting this thesis in fulfillment of the requirements for the postgraduate degree
from the Universiti Utara Malaysia, I agree that the University Library may take it
freely available for inspection. I further agree that the permission for copying of this
thesis in any manner, in whole or in part, for scholarly purpose may be granted by my
supervisor or, in his absence, by the Assistant Vice Chancellor of the College of
Business. It is understood that any copy or publication or use of this thesis or parts
thereof for financial gain shall not be allowed without my written permission. It is
also understood that due recognition shall be given to me and to the Universiti Utara
Malaysia for any scholarly use which may be made of any material from my thesis.
Request for permission to copy or make other use of material in this thesis in whole or
in part should be addressed to:
Assistant Vice Chancellor
College of Business
Universiti Utara Malaysia
06010 UUM Sintok
Kedah Darul Aman
Malaysia
ii
ABSTRACT (BAHASA MELAYU)
Kajian ini dijalankan bertujuan untuk mengkaji hubungan antara nilai usahawan,
pembiayaan firma, pengurusan firma, amalan pasaran, dan prestasi pertumbuhan bagi
Perusahaan Kecil dan Sederhana (PKS) di Kemboja. Kajian ini juga mengkaji
pengaruh penyederhana dasar kerajaan terhadap hubungan antara nilai usahawan,
pembiayaan firma, pengurusan firma, amalan pasaran, dan prestasi pertumbuhan bagi
PKS. Bagi menentukan hubungan ini, model hipotetikal di sediakan dengan menguji
hubungan antara nilai usahawan, pembiayaan firma, pengurusan firma, dan amalan
pasaran sebagai pembolehubah bebas; dan dasar kerajaan sebagai pembolehubah
penyederhana; dan prestasi pertumbuhan PKS sebagai pembolehubah bersandar. Soal
selidik di edarkan kepada responden dan 220 soal selidik boleh di gunakan untuk
analisis data.
Data kuantitatif diproses dengan menggunakan program SPSS versi 15.0. Statistik
diskriptif di gunakan untuk menghuraikan profil responden dan item-item
pembolehubah. Statistik penakbiran di gunakan bagi analisis korelasi, linear, regresi
berbilang dan berhierarki. Dapatan menunjukkan hubungan empirikal yang positif
seperti di hipotesiskan antara nilai usahawan, pembiayaan firma, pengurusan firma,
amalan pasaran yang disederhanakan oleh dasar kerajaan bagi prestasi pertumbuhan
PKS. Perkaitan positif antara kombinasi semua pembolehubah bebas terhadap
pembolehubah bersandar juga di sokong. Dapatan juga mencadangkan bahawa dasar
kerajaan mempunyai pengaruh positif dan penyederhana di dalam model kajian.
iii
ABSTRACT
The aims of this study are to examine the relationship between entrepreneur’s value,
firm financing, firm management, market practices, and growth performance of
Small-Medium Enterprises (SMEs) in Cambodia. This study also examined the
moderating influence of government policy on the relationship between
entrepreneur’s value, firm financing, firm management, market practices, and growth
performance of SMEs. In determining this relationship, a hypothetical model were
developed testing the relationship between entrepreneur’s value, firm financing, firm
management, and market practices as independent variables; and government policy
as moderating variable; and the growth performance of SMEs as dependent variable.
The questionnaires were distributed and 220 questionnaires were usable for data
analysis.
The quantitative data were processed using a SPSS version 15.0 program. Descriptive
statistics used to describe the respondents’ profile and variable items. Correlation,
linear, multiple and hierarchical regressions used for inferential statistics. The result
on the empirical relationship between entrepreneur’s value, firm financing, firm
management, market practices, and moderated by government policy were
contributed positively to the growth performance of SMEs as hypothesized. The
positive association between the combinations among all independent variables to
dependent variable was supported. The results also suggested that government policy
had positive and significant moderating influence on the model.
iv
ACKOWLEDGEMENTS
Firstly, I would like to express my gratitude to many people without whose support
and encouragements this work would not have been made possible. Foremost, are my
supervisors, Associate Professor Dr. Mohd Noor Mohd Shariff and Professor Dr
Juhary Haji Ali, who have patiently extends their criticism and painstaking advices in
this study. Their availability, time and research experiences have been invaluable in
the completion of this study.
My sincere thanks to the Assistant Vice Chancellor and the Dean Research and
Innovation, College of Business, Universiti Utara Malaysia who have given me the
opportunity to study in this university. Next, my sincere thank to Dr Iv Thong, Rector
of National University of Management, Phnom Penh, who had encouraged me to
study.
I am grateful to Samdech Hun Sen, Prime Minister of Royal Government of
Cambodia (RGC) who had invested his energy and spirit to the economic and human
resource development for all Cambodian, in the past, present and future generations.
Next, my utmost humble appreciation to H.E SOK AN; Deputy Prime Minister and
Minister in charge of Ministry Council Ministers of the RGC who had encouraged
and permitted my leaves to study at Universiti Utara Malaysia.
Last but not least, my sincere thanks and appreciation to all the respondents,
colleagues and friends who have helped my study a success. Lastly; many thanks to
my late parents, my brothers and sisters, my daughter for their supports and countless
sacrifices; with my deepest love and gratitude, I dedicate this thesis to them.
v
TABLE OF CONTENTS
PERMISSION TO USE ............................................................................................... I
ABSTRACT (BAHASA MELAYU) .......................................................................... II
ABSTRACT ............................................................................................................... III
ACKOWLEDGEMENTS ........................................................................................ IV
TABLE OF CONTENTS ........................................................................................... V
LIST OF TABLES ...................................................................................................... X
LIST OF FIGURES ................................................................................................. XII
LIST OF ABBREVIATIONS ............................................................................... XIII
CHAPTER 1 ................................................................................................................. 1
INTRODUCTION........................................................................................................ 1
1.1 BACKGROUND OF THE STUDY ............................................................................. 1
1.2 OVERVIEW OF SMES IN CAMBODIA .................................................................... 4
1.3 SMES GROWTH PERFORMANCE .......................................................................... 6
1.3.1 Factors Influencing the Growth Performance of SMEs in Cambodia ....... 7
1.3.2 Importance of Government Policy ............................................................. 9
1.4 PROBLEM STATEMENT ...................................................................................... 10
1.5 RESEARCH QUESTIONS ..................................................................................... 13
1.6 RESEARCH OBJECTIVES .................................................................................... 14
1.7 SIGNIFICANCE OF THE STUDY ........................................................................... 15
1.7.1 Academic Importance .............................................................................. 15
1.7.2 Practical Importance ............................................................................... 15
1.8 SCOPE OF THE STUDY ........................................................................................ 17
1.9 LIMITATIONS OF THE STUDY ............................................................................. 17
1.9.1 Regional Bias ........................................................................................... 17
1.9.2 Sectoral Bias ............................................................................................ 18
1.9.3 Response Bias .......................................................................................... 18
1.10 ORGANIZATION OF THE THESIS ..................................................................... 19
CHAPTER 2 ............................................................................................................... 22
REVIEW OF THE LITERATURE I: THE GROWTH PERFORMANCE OF
SMES IN CAMBODIA.............................................................................................. 22
2.1 INTRODUCTION ................................................................................................. 22
2.2 THE COUNTRY’S BACKGROUND ....................................................................... 22
2.3 THE FACTORS INFLUENCING ON SMES GROWTH PERFORMANCE IN CAMBODIA
25
2.3.1 Entrepreneur’s Value ............................................................................... 25
2.3.2 Firm Financing ........................................................................................ 27
2.3.3 Firm Management .................................................................................... 29
2.3.4 Market Practices ...................................................................................... 30
vi
2.4 THE INFLUENCE OF GOVERNMENT POLICY ....................................................... 32
2.4.1 Political Impact ........................................................................................ 32
2.4.2 Macro Policy ............................................................................................ 34
2.4.3 Micro Policy for SMEs............................................................................. 39
2.5 SUMMARY ......................................................................................................... 47
CHAPTER 3 ............................................................................................................... 49
REVIEW OF THE LITERATURE II: THEORY OF THE GROWTH
PERFORMANCE OF SMES AND MODELS ........................................................ 49
3.1 INTRODUCTION ................................................................................................. 49
3.2 SMES’ DEFINITIONS ......................................................................................... 49
3.3 PREVIOUS RESEARCH MODELS ON THE GROWTH PERFORMANCE OF SMES ..... 56
3.3.1 Gibb and Davies SMEs Growth Model .................................................... 56
3.3.2 Hay SMEs Growth Model ........................................................................ 57
3.3.3 Adams and Hall’s SMEs Growth Model .................................................. 59
3.3.4 Romano and Ratnatunga SMEs Growth Model ....................................... 60
3.3.5 Kolvereid and Bullvage Model ................................................................ 61
3.3.6 Petrakis’ SMEs Growth Model ................................................................ 62
3.3.7 Herri’s SME Growth Model ..................................................................... 64
3.4 THE UNDERLYING THEORY OF THE GROWTH PERFORMANCE OF SMES ........... 66
3.4.1 Entrepreneurship Theory ......................................................................... 66
3.4.2 Entrepreneur Behavior Theory: Entrepreneur’s Value ........................... 69
3.4.3 Resource Based Theory: Firm Financing, Firm Management, and Market
Practices .............................................................................................................. 73
3.4.4 The Contingency Theory: Government Policy ......................................... 75
3.4.5 SME Growth Theory ................................................................................ 80
3.5 CONCEPTUAL DEVELOPMENT OF THE FRAMEWORK .......................................... 82
3.6 FIRM GROWTH PERFORMANCE MEASUREMENT ................................................ 84
3.7 THE INFLUENCE OF ENTREPRENEUR’S VALUE ON SMES GROWTH
PERFORMANCE .......................................................................................................... 88
3.8 THE INFLUENCE OF FIRM FINANCING ON SMES GROWTH PERFORMANCE ........ 95
3.9 THE INFLUENCE OF FIRM MANAGEMENT ON THE GROWTH PERFORMANCE OF
SMES ...................................................................................................................... 101
3.10 THE INFLUENCE OF MARKET PRACTICES ON SMES GROWTH PERFORMANCE
108
3.11 THE INFLUENCE OF GOVERNMENT POLICY ON SMES GROWTH
PERFORMANCE ........................................................................................................ 113
3.12 SUMMARY ................................................................................................... 119
CHAPTER 4 ............................................................................................................. 122
THEORETICAL FRAMEWORK AND HYPOTHESES ................................... 122
4.1 INTRODUCTION ............................................................................................... 122
4.2 OPERATIONAL DEFINITIONS OF RESEARCH VARIABLES .................................. 122
4.2.1 Independent Variable 1: Entrepreneur’s Value ..................................... 123
4.2.2 Independent Variable 2: Firm Financing .............................................. 124
4.2.3 Independent Variable 3: Firm Management .......................................... 126
4.2.4 Independent Variable 4: Market Practices ............................................ 127
4.2.5 Moderating Variable: Government Policy ............................................ 129
4.2.6 Dependent Variable: Growth Performance of SMEs ............................ 130
vii
4.3 RESEARCH FRAMEWORK ................................................................................. 131
4.4 RESEARCH HYPOTHESES ................................................................................. 132
4.4.1 Hypothesis 1: The Relationship between Entrepreneur’s Value and
Growth Performance of SMEs: .......................................................................... 132
4.4.2 Hypothesis 2: The Relationship between Firm Financing and Growth
Performance of SMEs ........................................................................................ 136
4.4.3 Hypothesis 3: The Relationship between Firm Management and Growth
Performance of SMEs ........................................................................................ 139
4.4.4 Hypotheses 4 & 5: The Relationship between Market Practices and
Growth Performance of SMEs ........................................................................... 142
4.4.5 Hypotheses 6—10: The Moderating Effect of Government Policy in the
Relationship between Entrepreneur’s Value, Firm Financing, Firm Management,
Market Practices and Growth Performance of SMEs ....................................... 146
4.5 SUMMARY ....................................................................................................... 150
CHAPTER 5 ............................................................................................................. 151
RESEARCH DESIGN AND METHODOLOGY ................................................. 151
5.1 INTRODUCTION ............................................................................................... 151
5.2 RESEARCH DESIGN ......................................................................................... 152
5.2.1 Overview of the Research Method ......................................................... 152
5.2.2 Present Research Method ...................................................................... 159
5.3. SAMPLING ................................................................................................... 162
5.3.1 Sampling Technique ............................................................................... 162
5.3.2 Sample Size ............................................................................................ 163
5.4 DATA COLLECTION INSTRUMENTS AND PROCEDURES .................................... 164
5.4.1 Data Collection Instruments .................................................................. 164
5.4.2 Data Collection Procedures .................................................................. 166
5.4.3 Preliminary Test of Data Collections .................................................... 170
5.5 NON RESPONSE BIAS ...................................................................................... 172
5.6 ANALYTICAL APPROACH ................................................................................ 173
5.6.1 Scale Validation ..................................................................................... 173
5.6.2 Reliability ............................................................................................... 173
5.6.3 Factor Analysis ...................................................................................... 174
5.6.4 Normality ............................................................................................... 175
5.7 DATA ANALYSIS TECHNIQUE .......................................................................... 176
5.7.1 Descriptive Frequency ........................................................................... 177
5.7.2 Correlations ........................................................................................... 178
5.7.3 Regressions ............................................................................................ 179
5.8 MODEL EVALUATION ...................................................................................... 183
5.8.1 Multicolinearity...................................................................................... 183
5.8.2 Heterocedasticity ................................................................................... 184
5.8.3 Autocorrelation ...................................................................................... 185
5.8.4 Linearity ................................................................................................. 186
5.9 SUMMARY ....................................................................................................... 187
CHAPTER 6 ............................................................................................................. 190
RESULTS AND ANALYSIS .................................................................................. 190
6.1 INTRODUCTION ........................................................................................... 190
6.2 PRELIMINARY TEST RESULTS ......................................................................... 191
viii
6.2.1 Reliability Test ....................................................................................... 192
6.2.2 Reliability Test for Entrepreneur’s Value Variable ............................... 194
6.2.3 Reliability Test for Firm Financing Variable ........................................ 195
6.2.4 Reliability Test for Firm Managemet Variable ...................................... 196
6.2.5 Reliability Test for Market Practices Variable ...................................... 197
6.2.6 Reliability Test for Government Policy Variable ................................... 198
6.2.7 Reliability Test for Growth Performance of SMEs Variable ................. 199
6.3 FACTOR ANALYSIS.......................................................................................... 200
6.4 MAHALANOBIS DISTANCE TEST ..................................................................... 201
6.5 SKEWNESS AND KURTOSIS TEST ..................................................................... 202
6.6 CONCLUSIONS OF PRELIMINARY RESULT ........................................................ 203
6.7 PROFILES OF RESPONDENTS ............................................................................ 203
6.7.1 Type of Business ..................................................................................... 204
6.7.2 Size of Business ...................................................................................... 206
6.7.3 Sources of Capital Investment ............................................................... 207
6.7.4 Number of Employees ............................................................................ 208
6.7.5 Amounts of Capital Investment .............................................................. 209
6.7.6 Business Stage ........................................................................................ 210
6.8 PROFILES OF VARIABLES ................................................................................ 211
6.8.1 Entrepreneur’s Value: Independent Variable 1 ..................................... 212
6.8.2 Firm Financing: Independent Variable 2 .............................................. 215
6.8.3 Firm Management: Independent Variable 3 .......................................... 218
6.8.4 Market Practices: Independent Variable 4 ............................................ 221
6.8.5 Government Policy: Moderating Variable ............................................ 224
6.8.6 The Growth Performance of SMEs: Dependent Variable ..................... 227
6.9 THE CORRELATION VARIABLES ...................................................................... 228
6.10 HYPOTHESES TESTING ................................................................................ 231
6.10.1 Hypothesis 1: Relationship between Entrepreneur Values and Growth
Performance of SMEs ........................................................................................ 232
6.10.2 Hypothesis 2: Relationship between Firm Financing and Growth
Performance of SMEs ........................................................................................ 234
6.10.3 Hypothesis 3: Relationship between Firm Managment and Growth
Performance of SMEs ........................................................................................ 235
6.10.4 Hypothesis 4: Relationship between Market Practices and Growth
Performance of SMEs ........................................................................................ 237
6.10.5 Hypothesis 5: Relationship between Entrepreneur’s Value, Firm
Financing, Firm Management, Market Practices and Growth Performance of
SMEs 238
6.10.6 Hypothesis 6: Moderating Effect of Government Policy in Relationship
between the Entrepreneur’s Value and Growth Performance of SMEs ............ 241
6.10.7 Hypothesis 7: Moderating Effect of Government Policy in Relationship
between Firm Financing and Growth Performance of SMEs ........................... 243
6.10.8 Hypothesis 8: Moderating Effect of Government Policy in Relationship
between Firm Management and Growth Performance of SMEs ....................... 245
6.10.9 Hypothesis 9: Moderating Effect of Government Policy in Relationship
between Market Practices and Growth Performance of SMEs ......................... 246
6.10.10 Hypothesis 10: Moderating Effect of Government Policy in Relationship
between Entrepreneur’s Value, Firm Financing, Firm Management, Market
Practices and Growth Performance of SMEs .................................................... 249
6.11 CONCLUSIONS OF HYPOTHESES TESTING .................................................... 252
ix
6.12 NORMALITY ASSESSMENTS OF THE MODEL ................................................ 253
6.12.1 Multicolinearity Test ......................................................................... 253
6.12.2 Heteroscedasticity .............................................................................. 254
6.12.3 Autocorrelations ................................................................................ 256
6.12.4 Linearity: Best Linear Unbiased Estimation ..................................... 257
6.13 SUMMARY ................................................................................................... 258
CHAPTER 7 ............................................................................................................. 259
CONCLUSIONS AND RECOMMENDATIONS ................................................. 259
7.1 INTRODUCTION ............................................................................................... 259
7.2 CONCLUSIONS AND RECOMMENDATIONS ........................................................ 261
7.2.1 The Influence of Entrepreneur’s Value, Firm Financing, Firm
Management, and Market Practices on the Growth Performance of SMEs:
Direct Relationship of Variable Interactions ..................................................... 262
7.2.2 The Moderating Effect of Government Policy in the Relationship between
Entrepreneur’s Value, Firm Financing, Firm Management, Market Practices,
and the Growth Performance of SMEs: Indirect Relationship of Variable
Interactions ........................................................................................................ 265
7.3 THE GROWTH PERFORMANCE OF SMES IN CAMBODIA ................................... 270
7.4 THE FACTORS INFLUENCING ON THE GROWTH PERFORMANCE OF SMES IN
CAMBODIA .............................................................................................................. 271
7.4.1 Entrepreneur’s Value ............................................................................. 272
7.4.2 Firm Financing ...................................................................................... 272
7.4.3 Firm Management .................................................................................. 274
7.4.4 Market Practices .................................................................................... 276
7.5 THE MODERATING EFFECTS OF GOVERNMENT POLICY ON THE GROWTH
PERFORMANCE OF SMES IN CAMBODIA ................................................................. 278
7.6 FUNDAMENTAL CONTRIBUTION OF THIS RESEARCH ....................................... 281
7.6.1 Contributions to Knowledge .................................................................. 281
7.6.2 Contributions to the Practical Level of Entrepreneurs .......................... 283
7.6.3 Contributions to the Royal Government of Cambodia .......................... 284
7.7 RECOMMENDATIONS ....................................................................................... 285
7.7.1 Roles of Entrepreneurs .......................................................................... 286
7.7.2 Roles of Royal Government of Cambodian to the Growth Performance of
SMEs 288
7.8 DIRECTIONS FOR FUTURE RESEARCH .............................................................. 291
REFERENCES ......................................................................................................... 294
APPENDIX 1: QUESTIONNAIRE..............................................................................
APPENDIX 2: RESULTS OF STATISTICAL DATA ANALYSIS .........................
x
LIST OF TABLES
TABLE 2.1: CAMBODIAN SME DEFINITIONS ................................................................. 44
TABLE 3.1: SMES DEFINITION IN JAPAN AND KOREA ................................................... 53
TABLE 3.2: SME DEFINITION IN WESTERN COUNTRIES ................................................ 54
TABLE 3.3: SMES DEFINITION BASE ON THE NUMBERS OF EMPLOYEES ....................... 55
TABLE 3.4: THE COMMON GLOBAL SMES DEFINITIONS OF IFC ................................... 55
AND THE WORLD BANK GROUP-SME........................................................................... 55
TABLE 3.5: SME DEFINITION IN CAMBODIA ................................................................. 56
TABLE 4.1: EXPLORATORY FACTOR ANALYSIS FOR ENTREPRENEUR’S VALUE VARIABLE
............................................................................................................................ 124
TABLE 4.2: EXPLORATORY FACTOR ANALYSIS FOR FIRM FINANCING VARIABLE ....... 125
TABLE 4.3: EXPLORATORY FACTOR ANALYSIS OF FIRM MANAGEMENT VARIABLE ... 127
TABLE 4.4: EXPLORATORY FACTOR ANALYSIS FOR MARKET PRACTICES VARIABLE . 128
TABLE 4.5: EXPLORATORY FACTOR ANALYSIS FOR GOVERNMENT POLICY VARIABLE
............................................................................................................................ 129
TABLE 4.6: EXPLORATORY FACTOR ANALYSIS FOR GROWTH PERFORMANCE OF SMES
............................................................................................................................ 130
TABLE 5.1: THE SUMMARY OF PREVIOUS RESEARCH METHODOLOGIES ..................... 156
TABLE 5.2: SMES POPULATION AND BREAKDOWN SAMPLES ..................................... 164
TABLE 6.1 SUMMARY OF RELIABILITY TEST OF VARIABLES ....................................... 193
TABLE 6.2: RELIABILITY TEST FOR ENTREPRENEUR’S VALUE FACTOR ...................... 194
TABLE 6.3: RELIABILITY TEST FOR FIRM FINANCING FACTOR .................................... 195
TABLE 6.4: RELIABILITY TEST FOR FIRM MANAGEMENT FACTOR .............................. 196
TABLE 6.5: RELIABILITY TEST FOR MARKET PRACTICES FACTOR .............................. 197
TABLE 6.6: RELIABILITY TEST FOR GOVERNMENT POLICY FACTOR ........................... 198
TABLE 6.7: RELIABILITY TEST FOR GROWTH PERFORMANCE OF SMES FACTOR ....... 199
TABLE 6.8 SUMMARY OF CONFIRMATORY FACTOR ANALYSIS OF VARIABLES ........... 200
TABLE 6.9 RESULT OF MAHALANOBIS DISTANCE ASSESSMENT ................................. 201
TABLE 6.10: TYPES OF BUSINESSES ............................................................................ 205
TABLE 6.11: SIZES OF BUSINESSES ............................................................................. 206
TABLE 6.12: SOURCES OF CAPITAL INVESTMENT ........................................................ 208
TABLE 6.13: NUMBERS OF EMPLOYEES ...................................................................... 209
TABLE 6.14: AMOUNTS OF CAPITAL INVESTMENT (US DOLLARS) ............................. 210
TABLE 6.15: STAGES OF BUSINESS OPERATIONS ........................................................ 210
TABLE 6.16 DESCRIPTIVE STATISTICS OF VARIABLES ................................................. 212
TABLE 6.17: DESCRIPTIVES OF ENTREPRENEUR’S VALUE FACTOR ............................. 215
TABLE 6.18: DESCRIPTIVES OF FIRM FINANCING FACTOR .......................................... 217
TABLE 6.19: DESCRIPTIVES OF FIRM MANAGEMENT FACTOR ..................................... 220
TABLE 6.20: DESCRIPTIVES OF MARKET PRACTICES FACTOR ..................................... 223
TABLE 6.21: DESCRIPTIVES OF GOVERNMENT POLICY FACTOR .................................. 226
TABLE 6.22: DESCRIPTIVES OF GROWTH PERFORMANCE OF SMES FACTORS ............. 228
TABLE 6.23 VARIABLES’ CORRELATIONS ................................................................... 230
TABLE 6.24A MODEL SUMMARY OF HYPOTHESIS 1 .................................................... 232
TABLE 6.24B ANOVA OF HYPOTHESIS 1 ................................................................... 233
TABLE 6.24C COEFFICIENTS OF HYPOTHESIS 1 ........................................................... 233
TABLE 6.25A MODEL SUMMARY OF HYPOTHESIS 2 .................................................... 234
TABLE 6.25B.ANOVA OF HYPOTHESIS 2 ................................................................... 235
TABLE 6.25C COEFFICIENTS OF HYPOTHESIS 2 ........................................................... 235
xi
TABLE 6.26A MODEL SUMMARY OF HYPOTHESIS 3 .................................................... 236
TABLE 6.26B ANOVA OF HYPOTHESIS 3 ................................................................... 236
TABLE 6.26C COEFFICIENTS OF HYPOTHESIS 3 ........................................................... 237
TABLE 6.27A MODEL SUMMARY OF HYPOTHESIS 4 .................................................... 237
TABLE 6.27B ANOVA OF HYPOTHESIS 4 ................................................................... 238
TABLE 6.28A MODEL SUMMARY OF HYPOTHESIS 5 .................................................... 239
TABLE 6.28B ANOVA OF HYPOTHESIS 5 ................................................................... 239
TABLE 6.28C COEFFICIENTS OF HYPOTHESIS 5 ........................................................... 240
TABLE 6.29: SUMMARY OF DIRECT HYPOTHESES RESULTS ........................................ 241
TABLE6. 30A MODEL SUMMARY OF HYPOTHESIS 6 .................................................... 242
TABLE 6.30B ANOVA OF HYPOTHESIS 6 ................................................................... 242
TABLE 6.30C COEFFICIENTS OF HYPOTHESIS 6 ........................................................... 243
TABLE 6.31A MODEL SUMMARY OF HYPOTHESIS 7 .................................................... 244
TABLE 6.31B ANOVA OF HYPOTHESIS 7 ................................................................... 244
TABLE 6.31C COEFFICIENTS OF HYPOTHESIS 7 ........................................................... 245
TABLE 6.32A MODEL SUMMARY OF HYPOTHESIS 8 .................................................... 245
TABLE 6.32B ANOVA OF HYPOTHESIS 8 ................................................................... 246
TABLE 6.32C COEFFICIENTS OF HYPOTHESIS 8 ........................................................... 246
TABLE 6.33A MODEL SUMMARY OF HYPOTHESIS 9 .................................................... 247
TABLE 6.33B ANOVA OF HYPOTHESIS 9 ................................................................... 247
TABLE 6.33C COEFFICIENTS OF HYPOTHESIS 9 ........................................................... 249
TABLE 6.34A MODEL SUMMARY OF HYPOTHESIS 10 .................................................. 250
TABLE 6.34B ANOVA OF HYPOTHESIS 10 ................................................................. 250
TABLE 6.34C COEFFICIENTS OF HYPOTHESIS 10 ......................................................... 251
TABLE 6.35 INDIRECT HYPOTHESES RESULTS ............................................................ 251
(MODERATING EFFECT OF GOVERNMENT POLICY) ..................................................... 251
TABLE 6.36 VIF (MULTICOLLINEARITY TEST) ........................................................... 254
TABLE 6.37 SPEARMAN CORRELATIONS TEST ............................................................ 255
TABLE 6.38 DURBIN-WATSON TEST ........................................................................... 256
TABLE 7.1: RESULTS OF DIRECT HYPOTHESES’ TESTS ................................................ 263
TABLE 7.2: RESULT OF INDIRECT HYPOTHESES .......................................................... 267
(MODERATING EFFECT OF GOVERNMENT POLICY) ..................................................... 267
xii
LIST OF FIGURES
FIGURE 1.1: THE FRAMEWORK OF THE RESEARCH PROCESS ................................... 21
FIGURE 3.1: GROWTH CONTEXTUAL VARIABLES AND GROWTH VIA FORMAL
PLANNING. ........................................................................................................... 61
FIGURE 3.2: THE CONCEPTUAL MODEL OF GROWTH IN ENTREPRENEURIAL
ORGANIZATIONS .................................................................................................. 62
FIGURE 3.3: HERRI’S FIRM PERFORMANCE MODEL ................................................. 64
FIGURE 3.4: CONCEPTUAL DEVELOPMENT ................................................................ 83
FIGURE 4.1 THEORETICAL FRAMEWORK ................................................................. 131
FIGURE 4.2: HYPOTHESES OF DIRECT RELATIONSHIP ............................................ 145
FIGURE 4.3: INDIRECT RELATIONSHIP OF HYPOTHESES TESTING ......................... 149
(THE MODERATING EFFECT OF GOVERNMENT POLICY) ........................................ 149
FIGURE 6.1 TYPE OF BUSINESS ................................................................................. 206
FIGURE 6.2 SIZE OF BUSINESS ................................................................................... 207
FIGURE 6.3: BEST LINEAR UNBIASED ESTIMATION ................................................. 258
FIGURE 7.1: DIRECT RELATIONSHIP HYPOTHESES TESTING RESULT .................... 264
FIGURE 7.2: RESULT OF INDIRECT RELATIONSHIP HYPOTHESES TESTING ........... 269
(THE MODERATING EFFECT OF GOVERNMENT POLICY) ........................................ 269
xiii
LIST OF ABBREVIATIONS
ACLEDA Association of Cambodian Local Economic Development Association
ANU Australian National University
CSD Council for Social Development
EC European Commission
ECFA Engineering Consulting Firm Association
EU European Unions
FSB Financial Sector Blueprint
GDP Gross Domestic Products
HDI Human Development Index
IFC International Finance Corporation
JDI Japan Development Institute
LIs Large Industries
MNCs Multinational Companies
MOC Ministry of Commerce
MPDF Mekong Project Development Facilitator
NIEs Newly Industrialized Economies
NK Nippon Koei Co., Ltd
NPRS National Poverty Reduction Strategy
NSDP National Strategic Development Plan
NUM National University of And management
PIP Public Investment Program
RDB Rural Development Bank
RGC Royal Government of Cambodia
RS Rectangular Strategy
SEDP1 First Socio Economic Development Plan
SEDP2 Second Socio Economic Development Plan
SMEs Small and Medium Enterprises
TS Triangle Strategy
UNDP United Nations Development Program
CHAPTER 1
INTRODUCTION
1.1 Background of the Study
Small and Medium Enterprises (SMEs) sector development is one of the recent key
issues in developing countries (Davidsson, 2004; Gibb, 1982). As a developing
country, the development of SMEs sector in Cambodia is important. The assistance
of SMEs as a support industry helps to strengthen the large industries. SMEs
development is the future candidate of large industry because every large enterprise
has had the experience of starting their business as SMEs. The future of the large
industries is dependent on the development of SMEs.
SMEs development is also an important issue for the labor market because it
employs the labor force and offers wages to workers (Kirchhoff, 1994). In
Cambodia, the development of the SMEs sector could not only be the key issue of
industry development, but also for socio-economic development of the country.
The role of SMEs has been recognized to be important by every nation around the
world. It is considered to be an engine for growth and poverty reduction for the
country through the creation of jobs and incomes for the people (Morris, May,
Godden & Nicholson, 2001; World Bank Group, 2001; Ngasongwa, 2002; Hashim,
2004); domestic production and export (Hisrich & Szirmai, 1993; McMillan &
Woodruff, 2002); entrepreneurial skills and industrial linkages (Chee, 1986; Wyer,
The contents of
the thesis is for
internal user
only
294
REFERENCES
Abdullah, A. M. (2000). Small and medium enterprises in Malaysia: Issues and
challenges in the new millennium. Asian Small Business Review, 3(1), 45-63.
Abdullah, S. H. (2001). Management in Malaysia: A basic text on general
management with local references to management a Malaysian business.
Kuala Lumpur: Malaysian Institute of Management.
Abdullah, N.I. (1998). The role of bank pembangunan in the development of small
and medium scales enterprises. Proceedings of the International Conference
on Small and Medium Scale Enterprises. 3, pp. 83-95. Sintok: Universiti
Utara Malaysia Publisher.
ACLEDA. (1998). Micro finance institutions for the poor. Kingdom of Cambodia:
Association of Cambodian Local Economic Development Agencies.
Acharya, S., Sedara, K., Sotharith, C., & Yadi, M. (1998). Off-farm and non-farm
employment: A perspective on job creation in Cambodia. Cambodia:
Cambodian Development Resource Institute. Working paper 26.
Adams, G. (1993). Influences on the growth of SME: An international comparison.
Entrepreneurship & Regional Development, 5, 73-84.
Adizes, I. (1988). Organizational life cycles: How and why corporations grow and
die and what to do about it. New York: Prentice Hall.
Agarwal, D.C. (1991). Entrepreneurship development: Challenge, problems and
prospects for developing economies with special reference to Indian
economy. The Proceedings of World Conference on Entrepreneurship and
Innovative Change, July 3-5. Singapore.
Aguilar, F. J. (1967). Scanning and the business environment. New York:
Macmillan.
Ahmad, Q. K. (1984). Policies and institutions concerning promotion of rural
industries in Bangladesh. The Bangladesh Development Studies, 12(March),
163-190.
Aiken, L. S., & West, S. G. (1991). Multiple regressions: testing and interpreting
interactions. Sage Publication.
Alchian, A. A., & Demsetz, H. (1972). Production: Information costs and economic
organization. American Economic Review, 62, 777-795.
Allal, M. (1999). Business development services for micro and small enterprises in
Thailand: Micro and small enterprise development and poverty alleviation in
Thailand. Project ILO/UNDP: THA/99/003, Working Paper 1. United
Nations, Geneva.
295
Al-Shaikh, F. N. (1998). Factors of small business failure in developing countries.
Advances in Competitive Research, 6(1), 75-86.
Amer, T.S., & Bain, C.E. (1990). Making small business planning easier. Journal of
Accountancy, 53-60.
Anthony, R. (1965). Planning and control systems: A framework for analysis.
Boston: Harvard Business School.
Arbaugh, J. B., & Sexton, D. L. (1996). New firm growth and development: A
replication and extension of Reynolds’ research. Journal of Enterprising
Culture, 4(1), 19-36.
Arrighetti, A. (1994). Entry, growth, and survival of manufacturing firms. Small
Business Economics, 6(2), 127-137.
Arshad, N. (1998). Industrial development, growth and causality in Malaysia.
Proceeding of International Conference on Small and Medium Scale
Enterprise, 3, pp. 115-125. Sintok: Universiti Utara Malaysia Publisher.
Arthur, M.B., & Hendry, C. (1990). Human resource and management and the
emergent strategy of small to medium-sized business units. The Journal of
Human Resource and Management, 1(3), 233-250.
Asian Development Bank. (2003). Private sector assessment. First draft,
T.A.No.4030 CAM. Phnom Penh, Kingdom of Cambodia.
Atkinson, R.H., & Birch, D. (1979). Introduction to motivation. USA, New Jersey:
Van Nostrand.
Austin, J. J. (1988). Toward an evolutionary-theory of trade associations: The case of
real estate appraisers. AREUEA, Monograph, 16(3).
Babbie, E. (2004). The practical of social research. 10th Edition, USA: Wadsworth-
Thomson Learning Inc.
Bandura, A. (1986). Social foundations of thought and action: A social-cognitive
view. Englewood Cliffs, NJ: Prentice-Hall.
Baker, T. (1994). Doing social research. 2th Edition, Singapore: McGraw-Hill, Inc.
Barber, J., Metcalfe, S., & Porteous, M. (1989). Barriers to growth in small firms.
United Kingdom-London: Routledge.
Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of
Management, 17(1), 99-120.
Barney, J. B. (2001). Resource-based theories of competitive advantage: A ten-year
retrospective on the resource-based view.
296
Barkham, R., Gudgin, G., Hart, M., & Hanvey, E. (1996). The determinants of small
firm growth. Gateshead, Tyne, and Wear, UK: Athenaeum.
Barro, R.J. (1990). Government spending in a simple model of endogenous growth.
Journal of Political Economy, 98 (2), Part 2, 103-126.
Baumback, C.M., Kenneth, L., & Pearce, C.K. (1973). How to organize and operate
a small business. Fifth Edition, USA: Prentice-Hall, Inc.
Baumol, W.J. (1993). Entrepreneurship, management and the structure of payoffs.
Cambridge, MA: MIT Press.
Bennett, M. (1989). Managing growth. London: Longman Group UK Ltd.
Berger, A. N., & Udell, F.G. (1993). Lines of credit: Collateral and relationship
lending in small firm finance. Working Paper (S-93/17), New York
University: Salomon Brothers Center for the Study of Financial Institutions.
Bernadin, H. J., Joyce E., & Russels, A. (1998). Human resource and management:
An experiential approach. Boston: Irwin McGraw-Hill.
Best, M.H. (1990). The new competition: Institutions of industrial restructuring.
Cambridge: Polity Press.
Bird, B. J. (1989). Entrepreneurial behavior. London: Scott, Foresman
Binks, M.R., & Ennew, C.T. (1996). Growing firms and the credit constraint. Small
Business Economics, 8, 17-25.
Binks, M.R., & Ennew, C.T. (1997). The relationship between UK banks and their
small business customers. Small Business Economics, 9, 167-178.
Birley, S., & Muzyka. F.D. (1997). Mastering enterprise: Your single source guide
to becoming an entrepreneur. UK: Pearson Professional Limited.
Boud, D., & Garrich, J. (ed). (1999). Understanding learning at work. London:
Routhledge.
Black, K. (2001). Business statistics: Contemporary decision making. 3th Edition,
South-Western College Publishing, A division of Thomson Learning: USA.
Boardman, C.M., Bartley, J.W., & Ratliff, R.L. (1981). Small business growth
characteristics. American Journal of Small Business, 5(4), 33-45.
Bolash, W.P. (1988). Staying in front of the eight ball: Financing the small business.
Pennsylvania CPA Journal, 59 (1), 16-19.
297
Brockhaus, R. (1982). The psychology of the entrepreneur. In C. Kent, D. Sexton, &
K. Vesper (Eds.), Encyclopedia of entrepreneurship (pp. 39-71). New Jersey:
Prentice-Hall, Englewood Cliffs.
Bryk, A. S., Raudenbush, & Congdon (1996). Hierarchical linear and nonlinear
modeling with the HLM/2L and HLM/3L Programs. Chicago: Scientific
Software International.
Buchele, R.B. (1987) Business policy in growing firms. Business Week, January
19:84-89.
Burton, R. M., & Borge, O. (1998). Strategic organizational diagnosis and design:
Developing theory for application. Boston: Kluwer Academic Publishers.
Caird, S. (1998). Report on the development and validation of a measure of general
enterprising tendency. Durham University Business School: Occasional
Paper No.8913.
Calmorin, P.L.; Calmorin, A.M. (1995). Methods of research and thesis writing.
REX Book Store, Inc. Manila, Philippine.
Cardozo, N.R.; Harmon, B.; & Ardishvili, A. (1995). Understanding new business
growth. In S. Birley, and I.C. MacMillan (Ed.), International
Entrepreneurship, (pp. 3-16). UK: Routledge.
Carsrud, A. L., & Johnson, R.W. (1989). Entrepreneurship: A social psychological
perspective. Entrepreneurship and Regional Development, 1, 21-31.
Carland, J.W.; Hoy, F; Boulton, R.W.; & Carland, C.A.J. (1984) Differentiating
entrepreneurs from small business owners: A conceptualization. Academy of
Management Review, 9(2), 354-359.
Cavanna, R. Y., et al. (2001). Applied business research: Qualitative and
quantitative methods. Singapore: John Willey and Sons Ltd.
Carver, H.R.; Nash, G.J. (2005). Doing data analysis with SPSS version 12.0.
Brook/Cole-Division of Thomson Learning, Inc.; Canada.
Cavusgil, S. T. & John R. N. (1981). On the internal determinants of export
marketing behavior: An empirical investigation. Journal of Marketing
Research, 28 (February), 114-119.
Chamornmarn, W. & Tumtavitikul, S. (2002). Thailand. In Asian Productivity
Organization (Ed.). SMEs in competitive markets (pp. 315-347). Tokyo:
Asian Productivity Organization.
Chalos, P., & Haka, S. (1989). Participative budgeting and managerial performance.
Decision Science, 20(2), 334-246.
Chee, P.L. (1986). Small industry in Malaysia. Berita Publishing Sdn. Bhd., Kuala
298
Lumpur, Malaysia.
Chee, P.L. (1992a). The potential and problems of SMIs. In K.S.Jin & S.Jang-Wong
(Eds.), Cooperation in small and medium scale industries in ASEAN (pp. 29-
51). Malaysia-Kuala Lumpur: Asian and Pacific Development Center.
Chee, P.L. (1992b). SMIs programs. In K.S.Jin & S.Jang-Wong (Eds.), Cooperation
in small and medium scale industries in ASEAN (pp. 75-113). Malaysia-
Kuala Lumpur: Asian and Pacific Development Center.
Chell, E., Haworth, J., & Brearly, S. (1991). The entrepreneurial personality.
London: Routledge.
Chico, A. (1983). Small enterprise and entrepreneurship development. Paper
presented at the workshop on Small and Medium Enterprise Development in
Eleven Asian Pacific Countries; Pattaya, Thailand, Feb.17-22, 1983.
Chow, C.K.W., & Tsang, E.W.K. (1994). Entrepreneurs in China: Development,
functions and problems. International Small Business Journal, 13(1), 63-77.
Churchill, G. A. (1999). Marketing research: Methodological foundations. The
Dryden Press, Forth Worth.
Churchill, N.C., & Lewis, V.L (1986) Entrepreneurship research: Directions and
methods. In Sexton, D.L. and Smilor, R.M. (eds) The Art and Science of
Entrepreneurship (pp333-365). Cambridge, Mass: Ballinger
Churchill, N.C., & Lewis, V.L. (1983). The five stages of small business growth.
Harvard Business Review, 61(3), 30-50.
Clapham, R. (1985). Small and medium entrepreneurs in Southeast Asia. Institute of
Southeast Asian Studies.
Clark, D.; Berkeley, N.; & Steuer, N. (2001). Attitudes to growth among owners of
SMEs and the implications for business advice: Some evidence from the
clothing industry in Coventry. International Small Business Journal, 19(3),
72-76.
Clark, H.A. (2006). When there was no money: Building ACLEDA bank in
Cambodia's evolving financial sector. Germany: Springer Berlin-Heidelberg.
Coakes, J.S. (2005). SPSS version 12.0 for Windows: Analysis without anguish.
Australia: Sydney, John Wiley & Sons Australia, Ltd.
Coakes, J.S.; & Steed, G.L.; (2003). SPSS: Analysis without anguish-version 11.0 for
windows. John Wiley & Sons Australia, Ltd, Australia.
Cohen, M., & Levinthal, D.A. (1990). Absorptive capacity: A new perspective on
299
learning and innovation. Administrative Science Quarterly, 35, 129-152.
Cohen, J., & Patricia C. (1983). Applied multiple regression/correlation analysis for
the behavioral science 2nd Edition. Hillsdale, New Jersey: Lawrence
Erlbaum Assoc.
Cohen, J. (1988). Statistical power analysis for the behavioral science. Hillsdale,
New Jersey: Lawrence Erlbaum.
Collin, O.F., Moore, D.G., & Unwalla, D.B. (1964) The enterprising man. East
Lansing, Michigan: Bureau of Business and Economic Research, Michigan
State University.
Cooper, R.D., & Schindler, S.P. (2001). Business research methods, 7th Edition,
Singapore: McGraw-Hill Book Co.
Creswell, J. W. (1994). Research design: Qualitative and quantitative approaches:
Thousand Oaks, Cal: Sage Publications, Inc.
Council for Social Development. (2002). National poverty reduction strategy, 2003-
2005. Phnom Penh, Kingdom of Cambodia.
Cox, W. L., & Camp, M. S. (2001). International survey of entrepreneurs. Kansas
City: Kauffman Center for Entrepreneurial Leadership at Ewing Marion
Kauffman Foundation.
Cunningham, J.B., & Ho, J. (1994). The dynamics of growth and succession in
entrepreneurial organizations. Journal of Enterprising Culture, 2(1), 571-600.
Czinkota, M. R., & David A. R. (1981). Export assistance: Are we supporting the
best programs? Columbia Journal of Word Business, 16(Summer), 73-78.
Das, K. (1996). Flexibly together: Surviving and growing in a garment cluster,
Ahmadabad, India. The Journal of Entrepreneurship, 5(2), 153-177.
Dart, J., Ng, I., & Sarkar, A. (1998). Comparing the managerial practices of SMEs
from Malaysia, Singapore and Thailand. Paper presented at the Proceedings:
International Conference on Small and Medium Scale Enterprises Vol. 2.
Davidsson, P., & Wiklund, J. (2000). Conceptual and empirical challenges in the
study of firm growth. In D.L. Sexton, H. Landstrom (Eds.), Handbook of
entrepreneurship, (pp. 26-44). USA: Blackwell Publishers Ltd.
Davidsson. (2004). Researching entrepreneurship. New York: Springer.
Davidsson, P., Delmar, F., & Wiklund, J. (2006). Entrepreneurship and the growth
of firms. Cheltenham, UK: Edward Elgar
300
Davis, G., & Michael K. (Eds.). (2000). The future of governance. NSW: Allen-
Unwin.
De Jesus, B. et al. (1984) Guidebook on Thesis Writing. Philippine Association for
Graduate Education. Manila.
Dennis, J. (1998). Review of national social policies. Regional Environmental
Technical Assistance 5771, Poverty Reduction and Environmental
Management in Remote Greater Mekong Sub region (GMS), Watersheds
Project (Phase I), Cambodia.
DeNoble, A., & Moliver, D. M. (1983). The small business dilemma: Can
cooperation help? American Journal of Small Business, 7(1), 51-58.
Development Consulting International (2003). Private sector assessment for the
Kingdom of Cambodia. TA report for the Asian Development Bank, TA
No.4030 CAM, Ministry of Industry Mines and Energy, Phnom Penh,
Cambodia.
Dhal, P.N., & Lydall, H. F. (1961). The role of small enterprise in Indian economic
development. London: Asia Publishing Hours.
Dhungana, B. P. (1993). Promoting effective linkage on small-medium and large
industries in Asia and the Pacific. Small Enterprise Development, 4(3), 14-25,
Dielman, E.T. (2005). Applied regression analysis: A second course in business and
economics statistics. (4th ed.). Brooks/Cole, Thomson Learning: USA
Dijk M, P.V. (1997). Issue in small enterprise development: An overview. Journal of
entrepreneurship, 6(2), 209-221.
Dillon, R.W., Madden, J.T., & Firtle, H.N. (1990). Marketing research in a
marketing environment. Richard D Irwin Inc., USA.
Doan The, T. (Ed.). (2002). Vietnam. In Asian Productivity Organization. SMEs in
competitive markets (pp. 348-376). Tokyo: Asian Productivity Organization.
Dodd, J. L., & Turner, M.A. (2000). Is Benchmarking appropriate for Small
Businesses? The National Public Accountant, 46(6), 36-38.
Dollinger, M. J. (2003). Entrepreneurship: Strategis and resources. New Jersey:
Prentice Hall.
Douglas, P. C., & Benson, W. (2000). Integrating ethical dimensions into a model of
budgetary slack creation. Journal of Business Ethics, 28(3), 267-277.
Dovaldson, L. (Ed). (1995). Contingency theory. Sydney: Dantmouth.
Doyle, P. (1994). Setting business objectives and measuring performance. European
301
and Management Journal, 12(2), 123-132.
Dunk, A. S. (1993). The effect of budget emphasis and information asymmetry on
the relation between budgetary participation and slack. The Accounting
Review, 68(2), 400-410.
Drucker, P. (1986). Innovation and entrepreneurship. London: Pan Books.
Ear, Sophal. (1995). Cambodia’s economic development and history: A contribution
to the study of Cambodia’s economy. Department of Economics, University
of California, Berkeley, USA.
Egeln, J., Licht, G. & Steil, F. (1997). Firm foundations and the role of financial
constraints. Small Business Economics, 9, 137-150.
Eisenhardt, K. M. (1989). Building Theories from Case Study Research. Academy of
Management Review, 14 (4).
Ekanayake, S. (2004). Agency theory, national culture and management control
systems. Journal of American Academy of Business, 4(1/2), 49-54.
Ellis, H.C. (1965). The transfer of learning. New York: MacMillan.
Evans, D., & Jovanovic, B. (1989). Estimates of a model of entrepreneurial choice
under liquidity constraints. Journal of Political Economic, 97(4), 808-827.
Fabella, R.V. (1987). Rural Manufacturing Employment in the Philippines:
Contributions and Determinants. Philippine: Islam Publishing Co.
Fazzari, S., Hubbard, R.G.; & Peterson, B.C. (1987). Financing constraints and
corporate investment. NBER Working Paper No. 2387, Cambridge, MA.
National Bureau of Economic Research.
Ferdows, K. (1980). Start-up of small manufacturing ventures in developing
countries. American Journal of Small Business, 5(2), 12-22.
Filion, J. (1991). Vision and entrepreneurship relations: Elements for an
entrepreneurial metamodel. International Small Business Journal, 9(2), 26-
40.
Finegan, J. (1987). Are bigger banks bad for small business? Inc., 9(13), 161-166.
Finley, L. (1984). Can your small company acquire resources as favorably as the
large company? American Journal of Small Business, 9, 19-25.
Fitzsimmons, J. R., Steffens, P. R., & Douglas, E J. (2005). Growth and profitability
in small and medium sized Australian firms. Melbourne: AGSE
Entrepreneurship exchange
302
Flamholtz, E.G. (1986). How to make the transition from entrepreneurship to a
professionally managed firm. San Francisco: Jossey-Base.
Frank, H., & Landstrom, H. (1997). Entrepreneurship and small business in Europe
economic background and academic infrastructure. In H. Landstrom; H.
Frank; & J.M. Veciana (Eds.), Entrepreneurship and small business research
in Europe (pp. 1-13), Ashgate Public.
Freeman, C. & Soete, L. (1997). The economics of industrial innovation. 3rd Edition,
London: Pinter Co.
Frischtak, C.R. (1990). The protection of intellectual property in Brazil. In F.W.
Rushing & C.G. Brown (Eds.), Intellectual Property Right in Science,
Technology, and Economics Performance (pp. 61-98). Boulder: Westview
Press.
Fulop, G., (1994). Entrepreneurship: Small and medium size enterprises in Northern
Hungary. Entrepreneurship & Regional Development, 6, 15-28.
Funk & Wagnalls (1976). Funk and Wagnalls New Encyclopedia. Funk and
Wagnalls, Inc. New York.
Gartner, W. B. (1997). When growth is the problem, not the solution. Journal of
Management Inquiry, 6(1), 62-68.
Gibb, A. A. (1990). Entrepreneurship and intrapreneurship: Exploring the
differences. In R. Donckels & A. Miettinen (Eds.), New Findings and
Perspectives in Entrepreneurship. England: Gower.
Gibb, A. A. (1987). Enterprise culture: Its meaning and implications for education
and training. Journal of European and Industrial Training, Monograph,
11(2).
Gibb, A., & Davies. L. (1990). In pursuit of frameworks for the development of
growth models of the small business. International Small Business Journal,
9(1), 15-31.
Gibb, A.A. (1996). Entrepreneurship and small business and management: Can we
afford to neglect them in the twenty first century business school? British
Journal of Management, 7(4), 309-322.
Gibb, A., & Ritchie, J. (1982). Understanding the process of starting small business.
International Small Business Journal, 1, 26-45.
Gill, J. (1985). Factors affecting the survival and growth of the smaller company.
Canada: Gower Publishing Company.
Gilad, B., & Levine, P. (1986). A behavior model of entrepreneurial supply. Journal
of Small Business Management, 24, 45-51.
303
Ginn, C., & Sexton, D. (1989). Growth: A vocational choice and psychological
preference. In B.Kirchhoff, W.A Long, W.E. McMullan, K.H. Vesper, and
W.E. Wetzel, Jr. (Eds.), Frontier of Entrepreneurship Research (pp. 612-
625). Wellesley, MA: Babson College.
Goh, D. (1994). Enterprise failures and the runaway entrepreneurial spirit. Journal of
Enterprising Culture, 2(4), 945-953.
Goh, M., & Chew. I. (1996). Public policy and entrepreneurship development:
Singapore style. Journal of Enterprising Culture, 4(1), 79-93.
Ghoshal, S., Hahn, M., & Moran, P. (2002). Management competence, firm growth
and economic progress. Oxford: Oxford University Press.
Good, C.V., & Scates, E.D. (1972) Methods of research. Appleton Century-Crofts,
Inc. New York.
Gorton, M. (1999). Use of financial and management techniques in the U.K-based
small and medium sized enterprises: Empirical Research Findings. Journal of
Financial Management & Analysis, 12(1), 56-64.
Greenwood, E. (1955). Experimental sociology. New York: King’s Crown Press.
Greiner, L. E. (1972). Evolution and revolution as organizations grow. Harvard
Business Review, 50(4), 37-46.
Gupta, A. K. (1984). Contingency linkages between strategy and general manager
characteristics: A Conceptual examination. Academy of Management Review,
9(3), 399-412.
Hair, F.J.; Anderson, E.R.; Tatham, L.R.; & Black, C.W. (1998). Multivariate data
analysis (5th Ed). New Jersey, USA: Prentice-Hall, Inc.
Hair, J.F., Bush, R.P., & Ortinau, D.J. (2003). Marketing research: Within a
changing information environment (2th Ed). New York, USA: McGraw-Hill
Irwin.
Hair, J. Jr., Anderson, R.E., Tatham, R.L.; & Black, W.C. (1995). Multivariate data
analysis with readings. (4th Ed.). New Jersey: Prentice-Hall, Inc.
Hall, G., & Adams, G. (1996). Factors associated with the performance of small
firms: The case of electrical instrumentation. Small Enterprise Research, 4(1-
2), 95-107.
Hanchuan, L., & Zhongqi, W. (2000). A research on the definition of SMEs. In Z.
Zhonglu, G. Guo, Z. Yikun (Eds.), The development and supporting system
for SMEs in Asia-Pacific countries in the 21st century: Proceedings of the 4th
annual Asia-Pacific forum.
304
Hanefah, M.M., & Mohamed Al-Muresy, A.L.S. (1998). Tax incentives and tax
planning for small and medium scale enterprises in Malaysia. Proceedings of
the International Conference on Small and Medium Scale Enterprises, 3, pp.
153-172. Sintok: Universiti Utara Malaysia Publisher.
Hakim, C. (1982). Secondary analysis in social research: A Guide to data sources
and methods with examples. London: Allen and Unwin.
Hakim, C. (1989). Identifying fast-growth small firms. Employment Gazette, 97 (1),
29-41.
Harner M.S. (2003). Financing SMEs in Cambodia: Why do bank find it so
Difficult? Report of a study commissioned by Mekong Project Development
Facility (MPDF). Private Sector Discussion, No. 14. (Kingdom of
Cambodia).
Hashim, M. K. (2000). SMEs in Malaysia: Past, present and future. Malaysian
Management Review, 35(1), 22-30.
Hashim, M.K. (2004). Business practices in Malaysia on small and medium-sized
enterprises. Sintok: Universiti Utara Malaysia Publisher.
Hashim, M.K., & Abdullah, M.S (2000). A proposal framework for redefining SMEs
in Malaysia: One industry one definition? Asian Academy of Management
Journal, 5(1), 65-79.
Hashim, M.K., & Osman I. (2004). An empirical assessment of business practices in
Malaysian SMEs. In M.K. Hashim (Ed.). Business practices in Malaysia
small and medium-sized enterprises (pp.1-14). Sintok: Universiti Utara
Malaysia Publisher.
Haswell, S., & Holmes, S. (1989). Estimating the small business failure rate: A
reappraisal. Journal of Small Business and Management, 68-74.
Havers, M. (1991). NGOs as agencies for small enterprise development. Small
Enterprise Development, 2(3), 14-24.
Hay, M. (1992). Barriers to small firm growth. In N.C. Churchill, S. Birley, W.D.
Bygram, D.F. Muzyka, C. Wallbin, W.E. Wetset Jr. (Eds.), Frontiers of
Entrepreneurship Research (pp. 288-320). Babson Park, MA: Babson
College.
Herri, O. (2002). Analysis of factors influence the performance of Indonesian small
and medium enterprises (A Resource-Base Theory Approach).
Hendrickson, U. L., & Psaroutthakis, J. (1992). Managing the growing firm. USA:
Prentice-Hall, Inc.
305
Hendry, C., Jones, A., Arthur M., & Pettigrew, A.M. (1991). Human resource
development in small to medium-sized enterprises. Research Paper, No. 88,
UK: Sheffield.
Hiebert, D. (1993). Vietnam population census 1989: Detail analysis of sample
result. Hanoi-General Statistic Office: Statistic Publishing House.
Hill, C.W.L. (1998). Differentiation versus low cost or differentiation and low cost:
A contingency framework. Academy of Management Review, 401-412.
Hisrich, R.D., & Szirmai, P. (1993). “Developing a market oriented economy: A
Hungarian perspective”. Journal of Entrepreneurship and Regional
Development, 5, 61-71.
Hofer, C.W. (1980). Turnaround strategies. Journal of Business Strategy, 1, 19-31.
Hoffman, D. A., & Gavin, M. B. (1998). Centering decisions in hierarchical linear
models: Implications for research organizations. Journal of Management,
24(5), 623-641.
Honarday, J. A. (1982). Who is entrepreneur? In R. Donckels & A. Miettinen (Eds.),
New findings and perspectives in entrepreneurship. England: Gower
Publishing Co.,
Howard, J.S. (1989). Smart financial and management. D&B Reports, 37 (1), 38-42.
Hoy, F., McDougall, P. P., & D'Souza, D. E. (1992). Strategies and environments of
high growth firms. In D. L. Sexton & J. D. Kasarda (Eds.), The state of the
art of entrepreneurship, (pp. 341-357). Boston: Kent.
Huber, G.O. (1991). Organizational learning: The contribution process and the
literatures. Organizational Science, 2 (1), 88-115.
Hull, C.J. (1990). Comment on technology strategy in small and medium-sized firms.
In Z.J., Acs & D.B. Audretsch (Eds), The economics of small firms: A
European challenge. Dordrech: Kluwer Academic Publishers.
Husain, I. (2004) Why lend to small and medium enterprises? Training Workshop for
SMEs Lending, Karachi, 2004, April 12.
Hussin, H., (1996). Personal values and identity structures of Malay and Chinese
entrepreneurs in Malaysia. Unpublished doctoral thesis, Cranfield
University: School of Management, UK.
Hutcheson, G., & Nick Sofroniou. (1999). The Multivariate social scientist:
Introductory statistic using generalized linier modes. Thousand Oaks, CA:
Sage Publications.
306
Ibrahim, M.D., (1999). Empirical investigation on the adoption of project appraisal
practice and access to finance by SMIs in Malaysia. In M.A. Abdullah,
M.I.Hj. Bakar, J. Ali & L.J. Heng (Eds), Proceedings of the International
Conference on Small and Medium Enterprises. Sintok: Universiti Utara
Malaysia Publisher.
IFC, World Bank Group-SME. (2002). Review of small business activities.
Washington DC: Jarboe Printing Company.
Indrawati, S.M. (1999). Competition policy and its relevance to SMEs. In R. Brazier
& S. Sianipar (Eds.). Indonesia's anti-monopoly law and its impact on small
and medium enterprises (pp. 17-21). Indonesia-Jakarta: The Asian
Foundation
Islam, R. (Ed.). (1987). Rural industrialization and employment in Asia. New Delhi:
ILO/ARTEP.
Ismail, R., & Darawi, Z. (1998). Linkage of SMEs: Where are they heading. Paper
presented at the Proceedings of the International Conference on Small and
Medium Scale Enterprises, 2, Universiti Utara Malaysia Publisher.
Jan, N.Hj.Md., Sab. Hj. J.C.; & Shaari, J. (1998). Strategies toward improving SMIs
in Malaysia with particular reference to the manufacturing sector. Paper
presented at the Proceedings of the International Conference on Small and
Medium Scale Enterprises, 3, Universiti Utara Malaysia Publisher.
Jankowicz, A.D. (1991). Business research for students, Chapman and Hall.
Janssen, P. (1993). The best yet to come. Asian Business Review, 29(7), 28-37.
Jensen, M. C. (2000). Theory of the Firm: Governance, Residual Claims, and
Organizational Forms. Cambridge, MA: Harvard University Press.
Jin, K.S., (1992). Introduction. In K.S.Jin & S.Jang-Wong (Eds.), Cooperation in
small and medium scale industries in ASEAN (pp.1-6). Malaysia-Kuala
Lumpur: Asian and Pacific Development Center.
John, D. (1959). The quest for certainty. Minton, Balch and Company. New York.
Johnson, D. (1993). Driver behavior and business outcomes: An alternative approach
to the psychology of the owner-manager. Journal of Entrepreneurship and
Regional Development, 5, 369-383.
Jovanovic, B. (1982). Selection and the evolution of industry. Journal of
Econometrica, 50(3), 649-670.
Kalesnikoff, D. (1998). The role of consultants with small and medium scale
enterprises. Paper presented at the Proceedings of the International
Conference on Small and Medium Scale Enterprises, 2, Universiti Utara
Malaysia Publisher.
307
Kam, B. C. (1994). The mechanics of sustaining an enterprise. Journal of
Enterprising Culture, 2(1), 601-615.
Kantilal, Ila. (1994). Entrepreneurship and survival strategy in a sick traditional
industry: The case of the Ahmadabad textile industry. The Journal of
Entrepreneurship, 3(1), 21-53
Kawakami, T. (2002). Country study for Japan's official development assistance to
the Kingdom of Cambodia: From reconstruction to sustainable development.
Institute for International Cooperation/Japan International Cooperation
Agency, Cambodia.
Kazanjian, R.K. (1988). Relation of dominant problems to stages of growth in
technology-based new ventures. Academy of Management Journal, 31(2),
257-279.
Kazmier, J.L. (1996). Theory and problems of business statistics: Introduction to
business statistics and intermediate business statistics. Third edition,
McGraw-Hill Companies, Inc. USA.
Keasey, K., & Watson, R. (1994). The bank fiinancing of small firms in U.K.: Issues
and evidence. Small Business Economics, 6, 349-362.
Kee, C.H., & Chang, Z.Y. (1985). Finance and performance of small manufacturing
firms in Singapore. International Small Business Journal, 4 (2), 25-35.
Keeble, D. (1990). Small firms, new firms and uneven regional development. Area,
22, 234-245.
Keeble, D., & Wever, E. (Eds.). (1987). New firms and regional development in
Europe. London: Croom Helm.
Kerlinger, F. N. (1986). Foundation of behavioral research. 3rd edition, Holt
Rinehart and Winston. New York.
Kets de Vries, M. (1977). The entrepreneurial personality: A person at the
crossroads. Journal of Management Studies, 14(1), 34-57.
Khan, Md.M.R. (2002). Bangladesh. In Asian Productivity Organization (Ed.) SMEs
in competitive markets (pp. 1-28). Tokyo: Asian Productivity Organization.
Khan, R.M. & Rocha, R. J.Jr. (1983). Recurring managerial problems in small
business. American Journal of Small Business, 7(1), 50-58.
Kim, Y. & Choi, Y., (1994). Strategic types and performances of small firms in
Korea. International Small Business Journal, 13(1), 13-25.
Kinnear, R.P, & Gray, D.C. (2000). SPSS for windows made simple: Release 10.
Psychology Press, Ltd.; UK.
308
Kinnear, P. R., & Gray, Colin D. (2004). SPSS 12 Made Simple: Psychology Press.
Kirby, D. (2003). Entrepreneurship. UK: McGraw-Hill Education.
Kirchhoff, B. A. (1994). Entrepreneurship and Dynamic Capitalism. Westport, CT:
Quorum Books.
Kirkpatrick, A.L., & Feeney, C.B. (2005). A simple guide to SPSS for Windows:
Version 12.0. Thomson Wadsworth, USA.
Kirzner, I. M. (1979). Perception, opportunity and profits: Studies in the theory of
entrepreneurship. Chicago: University of Chicago Press.
Kolvereid, L. & Bullvage, E. (1996). Growth intensions and actual growth: The
impact of entrepreneurial choice. Journal of Enterprise Culture, 4(1), 1-17.
Kong-wing, C.C. (1992). Entry and exit process of small business P.R China’s retail
store. International Small Business, 15(1): 41-58.
Kotler, P. & Cox, K. K. (1988). Marketing, management and strategy. (4th Ed.).
New Jersey-Englewood Cliffs: Prentice-Hall.
Kumar, R. (1996), Research methodology: A step-by-step Guide for beginners. South
Melbourne Australia: Addison Wesley Longman Australia Pty Limited,
Kyambalesa, H. (1994). Successful in managing a small business. UK: Ashgate
Publishing Ltd.
Latif, A.A., Khan, M.K.J., Abdullah, M.A, & Ali, J. (2000). Support system for
indigenous small and medium entrepreneurs in Malaysia. In Z. Zhonglu, G.
Guo, & Z. Yikun (Eds.), The development and supporting system for SMEs in
Asia-Pacific countries.
.
Latif, A.A., Shanmugam, B. (1998). Survival strategies for SMEs in Malaysia.
Proceedings of the International Conference on Small and Medium Scale
Enterprises, 3, 187-201. Sintok: Universiti Utara Malaysia Publisher.
Lavigne, A. (1999). Standards with differential. CA Magazine, 132, 49-50.
Lawler, E. E., & Ledford, G. (1992). A skill-based approach to human resource and
management. European Management Journal, 10(4), 383-391.
Lavy, Y.; Kheng L., & Pory S., (2003). Socioeconomic of Chong Khneas
communities. Research supported by UNISCO, Cambodia, January 2003.
Lazonick, W., & O’sullian, M. (1998). Governance of innovation for economic
development. Innovation Systems and European Integration Working Paper.
Sweden: Linkoping University, Department of Technology and Social
Change, March.
309
Lee, M., Nyean, L.L., Kune, H.M., Wai, H.K., Tan, A., & Teo, S. (1991).
Contribution of government assistance schemes to the development of
entrepreneurship activities in Singapore. In J.C. Oliga & T.B. Kim (Eds.).
Proceeding of World Conference on Entrepreneur.
Leibowitz, A. (2000). News: NGA policy academy entrepreneur strategy. Venture
Capital Journal, July 1.
Leipziger, D.M. (1999). Awakening the market: Vietnam's economic transition.
World Bank Group Paper, Monograph, No. 157. Washington DC: USA.
Levy, B. (1992). Obstacles to developing indigenous small and medium enterprises:
An empirical assessment. The World Bank Economic Review, 7(1), 65-83.
Liang, T.W. (2002). Singapore. In Asian Productivity Organization (Ed.) SMEs in
competitive markets (pp. 281-293). Tokyo: Asian Productivity Organization.
Lin, M.J. (2002). SMEs in competitive markets: People Republic of China. Report of
APO survey on role and adaptation of SMEs under the changing industrial
structure (pp. 29-50). APO: Asian Productivity Organization.
Litvak, I. A. & Maule, C.J. (1980). Entrepreneurial success or failure: Ten years
after. Business Quarterly, 5(4), Winter.
Long, J. S. (1997). Regression models for categorical and limited dependent
variables. Thousand Oaks, CA: Sage Publications.
Lyles, M.A., Baird, I.S., & Orris, J.B., (1995). Entrepreneurship in a transition
economy: An examination of venture creation in Hungary. Journal of
Enterprising Culture, 3(1), 59-83.
Mahmud, A. A. (1981). Malay entrpreneurship: Problem in development-A
comparative empirical analysis. Malaysia: Prime Minister's Department.
McMahon, R. G. P. (1998). Commerce. Research Paper Series. 98-5.
McMahon, R. G. P. (1998). Stage models of SME growth reconsidered: Small
Enterprise Research: The Journal of SEAANZ, 6(1998).
McMahon, R.G.P. (2001). Growth and performance of manufacturing SMEs:
Influence of financial and management characteristics. International Business
Journal, 19(3), 10-29.
McMahon, R. G. P., & Holmes, S. (2001). Small business financial and management
practices in the North America: a literature review. Journal of Small Business
Management.
310
Magner Nace, W., Robert B., & Johnson G. G. (1993). Evidence of value-expressive
participation effects in budgeting. Journal of Applied Business Research,
9(2), 104-112.
Mallery, P. (2005). SPSS for Windows Step By Step, A Simple Guide and Reference.
Boston, Us: Pearson Education, Inc.
Mannan, A.M. (1993). Growth and development of small enterprise: Case of
Bangladesh. UK: Ashgate Publishing Co.
Marcum, R.E., & Boshell, E.O. (1967). Financing the small and medium-size
business. Management Review, 52, 4-12.
Marshall, R., Leong, D., Choo, J., Koh, S., & Thay, P. (1995). Critical success
factors for Singapore companies operating in the Peoples' Republic of China.
Journal of Enterprising culture, 3(1), 85-101.
McClelland, D.C., Atkinson, J., Clark R.A., & Lowell E.L. (1953). Achievement
motive. Appleton: Century Crofts.
McClelland, D.C. (1961). The Achieving Society. New Jersey, Princeton: D. Van
Nostrand.
McClelland, D. C. (1965). Achievement motivation can be developed. Harvard
Business Review, November-December, 6, 178.
McKenna, J.F., & Oritt P.L. (1979). Small business: Growth or non-growth.
Proceeding of the National Academy of Management, Summer.
McMillan, J., Woodruff, C., (2002). The central role of entrepreneurs in transition
economies. Journal of Economic Perspectives, 16(3), 153-170.
McTavish, G.D., & Loether, J.H. (2002). Social Research: An evolving process. 2th
Edition, Pearson Education Company, USA.
Meier, J.K., & Brudney, L.J. (1987). Applied statistics for public administration.
Revise edition, Brooks/Coles Publishing Company-Division of Wadsworth,
Inc. USA.
Meyanathan, S.D., & Munter, R. (1994). An overview. In S.D. Meyanathan (Ed.).
Industrial structure and the development of small and medium enterprise
linkages: Example from East Asia (pp. 1-22). Washington DC: The
International Bank for Reconstruction.
Meyanathan, S. D. (1994). Industrial structures and the development of small and
medium enterprise linkages-Examples from East Asia. Paper presented at the
EDI Seminar Series.
311
Ministry of Commerce. (1998). Cambodia: The reemergence of new opportunities.
Phnom Penh, Cambodia: Ministry of Commerce.
Ministry of Commerce. (2000). Cambodia: Opportunities for the new millennium,
business and investment handbook. Cambodia: Ministry of Commerce.
Ministry of Council of Ministers. (2003). The significant achievements made by the
Royal Government of Cambodia: 1998-2002. Phnom Penh March 2003,
Cambodia.
Ministry of Economic Affairs (1997). White paper on small and medium enterprise
in Taiwan. Taipei, Taiwan.
Ministry of Planning (1999). Great population census of Cambodia 1998: Final
census results. Published by Ministry of Planning, Kingdom of Cambodia.
Mintzberg, H. (1989). Mintzberg on management. New York: The Free Press.
Mohamad, Z.A., Rashid, Md.Z A., & Sidin, S.Md. (1998). Marketing practices of
Malaysian small scale enterprises in food sector. Proceeding of the
International Conference on Small and Medium Scale Enterprises, 3, 1-18.
Malaysia: Penerbit Universiti Utara Malaysia.
Mohamed, H.H., Wahab, I.A., Lau T.K., Ibrahim, M.D., & Mohamad, R. (1992).
Business failure in Malaysia. World Conference on Entrepreneurship.
Singapore: ENDEC, NTU-Peat Marwick Entrepreneurship Development
Centre.
Mohd Shariff, M.N. (2003). An evaluation of a government-backed loan scheme in
Malaysia. Sintok: Universiti Utara Malaysia Publisher.
Montagno, R.V., Kuratko, D.F., & Scarcella, J.H. (1986). Perception of
entrepreneurial success characteristics. American Journal of Small Business,
10(3): 25-32.
Monk, R. (2000). Why small businesses fail. CPA Management, 74(6), 12
Morris, T., May J., Godden, J., & Nicholson, E. (2001). Small/medium enterprise
assessment and strategy development. U.S Agency for International
Development (USAID)/Bulgaria.
Morton-Williams, J. (1977). Unstructured design work. In Hoinville, G. and Jowell,
E. (eds.) Survey Research Practice (pp9-26). London: Heinemann.
MPDF. (1997). Medium and large private companies in the Lao PDR. Mekong
Project Development Facility Agency (MPDF): Private Sector Discussion
Series, March 20.
312
MPDF. (1999). Private companies in Vietnam: A survey of public perception.
Private Sector Discussion No. 9. Published by Mekong Project Development
Facility (MPDF).
Mulger, J. (2000). The climate for entrepreneurship in European countries in
transition. In D. Sexton, H. Landstrom (Eds.), Handbook of
Entrepreneurship. (pp. 150-175). USA: Blackwell Publisher Inc.
Nagel, S. S. (Ed.). (1994). Encyclopedia of policy studies. New York: Marcel Dekker
Nash, M. (1993). Managing organizational performance. San Francisco: Jossey-Bass
Publishers.
National Institute of Statistics. (2003). The statistical year book 2003. National
Institute of Statistics, Ministry of Planning, Kingdom of Cambodia.
Neilson, R.E., & Mwaura, M.F. (1997). Growth strategies of medium sized firms in
Kenya. The Journal of Entrepreneurship, 6(1), 53-74.
Ngasongwa, J. (2002). Small and medium enterprises development policy. Ministry
of Industry and Trade, United Republic of Tanzania.
NK, JDI, ECFA (2000). Cambodian economy revitalization program: Historical
chance for Cambodia 2001-2010 with half million jobs creation by the SEZ
program. Published Nippon Koei Co., Ltd (NK), Japan Development Institute
(JDI), Engineering Consulting Firm Association
Norusis, J.M. (2000). SPSS 10.0: Guide to data analysis. Copyright by INSO
Corporation; Published by Prentice-Hall Inc.; New Jersey, USA.
Ohmae, K. (1990). The borderless world. New York: Harper & Row.
Olsen, B., & Johannessen, J.A. (1994). The relation between ability and post start up
success for entrepreneurs. Journal of Enterprise Culture, 2(3), 817-831.
Parel, C.P., et al. (1978). Data Analysis and Interpretation. PSSC Social Survey
Series No. 3. Philippine Social Science Council. Quenzon City.
Pendeliau, G. (1996). From business creator to businessman: A strategic distinction.
Journal of Enterprise Culture, 4(2), 123-146.
Penrose, E. (1995). The theory of the growth of the firm. Oxford: Oxford University
Press.
Penrose, E. (2000). The Firm in Theory (Vol. II). London: Routledge.
Peter, J. P. (1981). Construct Validity: A Review of Basic Issues and Marketing
Practices. Journal of Marketing Research, 18(May).
313
Peterson, R. A., Kozmetsky, G., & Ridgway, N.M. (1983). Perceived causes of small
business failures: A research note. American Journal of Small Business, 8(1),
15-19.
Petrakis, P.E. (1997). Entrepreneurship and growth: Creative and equilibrating
events. Small Business Economics, 9(5), 383-402.
Pilgrim, M. (1994). Policy induced constraint on small enterprise development in
Asian developing countries. Small Enterprise Development, 15(2), 14-38.
Plaschka (1990). Person related and micro social characteristics of successful and
unsuccessful entrepreneurs. In R. Donckels, A. Miettinen (Eds.), New
Finding and Perspectives in Entrepreneurship (pp. 187-202). Aldershot:
Gower.
Porter, M.E. (1980). Competitive Strategy. New York: Free Press.
Potts, N. (1997). National economic sovereignty and the single European currency.
European Business Review, 97(1).
Pope, P. (1984). Information asymmetry in participative budgeting: A bargaining
approach. Journal of Business Finance & Accounting, 11(1), 41-59.
Raudenbush, S. W., & Anthony S. Bryk (2002). Hierarchical linear models:
Applications and data analysis methods (Second ed.). Thousand Oaks, CA:
Sage Publications. Advanced Quantitative Techniques in the Social Sciences
Series No. 1.
Rao Sampath, M.S. (1997). The entrepreneurial competency index: An assessment
tool for financial institute. The journal of Entrepreneurship, 6(2), 197-208.
Ray, D. M. (1986). Perceptions of risk and new enterprise formation in Singapore.
Frontier of Entrepreneurship Research. Wellesley, MA: Babson College.
Richardson, S., Guru, K.B., Yu, M.C., Wei, K.K., & Pointon, L. (2005). How to
research: A guide for undergraduate & graduate students (pp 40-41).
Thomson Learning-Division of Thomson Asia Pte Ltd., Malaysia,
Ricupero, R., & Cattaui, L.M. (2003). Cambodia: An investment guide to Cambodian
opportunities and conditions. United Nations, New York/Geneva.
Riedel, J., & Tran, C.S. (1997). The emerging private sector and the industrialization
of Vietnam. Private Sector Discussions, No.1. Hanoi: MPDF(Mekong Project
Development Facility),
Robert, D. C. (2000). Sustainable small enterprise development in a Cuban transition
economy. Comparative International Development, 34(4), 100-123.
Robock, S.H. (1971). Political risk: Identification and assessment. Columbia Journal
of World Business. 6(4), 6-20.
314
Robson, C. (1993), Real world research-A resource for social scientists and
practitioner researchers, Blackwell Publishers.
Robins, P. S. (1996). Organization behavior: Concepts, controversies, applications
7th Ed.: Prentice-Hall Inc.
Robinson, R. B. J. (1982). The importance of ‘outsiders’ in small firm strategic
planning. Academy of Management Journal, 25(1), 80-93.
Romano, C.A. & Ratnatunga, J. (1995). Effects of formal planning and control on
growth: A case study approach. Journal of Enterprising Culture, 3(2): 161-
195.
Rooney, D.F. (2000). Angkor: An introduction to the temples. Hong Kong: Odyssey
Publication.
Roper, S. (1997). Product innovation and small business growth: A comparison of
the strategies of German, U.K. and Irish Companies. Small Business
Economic, 9, 523-537
Rosenborg, L. J., & Czepiel, J.A. (1983). A Marketing Approach to Customer
Retention. Journal of Consumer Marketing, 2.
RGC. (1996). First five year socioeconomic development plan for 1996-2000.
Kingdom of Cambodia: Ministry of Planning.
RGC. (2001a). Financial sector blueprint for 2001-2010. Phnom Penh, Cambodia,
August 24, 2001.
RGC. (2001b). Second five year socioeconomic development plan for 2001-2005:
National economic growth and poverty reduction strategy. Kingdom of
Cambodia: Ministry of Planning.
RGC. (2002). Socioeconomic development priorities and the official development
assistance needs: For consultative group meeting for Cambodia on June
2002. Phnom Penh, Cambodia: RGC.
RGC. (2004). Speech addressed by Prime Minister Samdech Hun Sen on the
Rectangular Strategy: For growth, employment, equity, and efficiency. The
Office of the Council of Ministers, 16 July 2004, Phnom Penh, Cambodia.
RGC. (2006). National strategic development plan for 2006-2010: For growth,
employment, equity and efficiency. Approved by the Council of Ministers
Meeting on 27 January 2006. Cambodia: Ministry of Planning.
RGC & SMEs Sub-Committee. (2005). Small and medium enterprise development
framework. Cambodia: SMEs Sub Committee.
315
Rumelt, R. R. (1984). Towards a strategic theory of the firm. Englewood Cliffs: NJ:
Prentice-Hall.
Scase, R. & Goffee, R. (1986) Why managers turn entrepreneur. Management
Today: August—pp 44-46.
Schmitz, H. (1982). Growth constraints on small-scale manufacturing developing
countries: A critical review. World Development Journal, 10(6), 429-450.
Schultz, T. W. (1975). The value of the ability to deal with disequilibrium. Journal of
Economic Literature, 13(2), 827-846.
Schumpeter, J. A. (1934). The theory of economic development: An enquiry into
profits, capital, credits, interest, and business cycle. Translated R. Opie.
Cambridge: Harvard University Press.
Segal, Quine &Partners. (1985). The Cambridge phenomenon: The growth of high
technology in a university town. Cambridge: Segal, Quine and Partners.
Sekaran, U. ((2000). Research methods for business: A skill building approach. (3th
Ed.). USA: John Wiley & Sons Inc.
Sevilla, C.G. et al. (1992). The introduction to research methods. Manila: Rex Book
Store.
Shah, I.A., Yin, Y., & Amin, N. (1998). Production and marketing problems of small
and medium scale industries in Sarawak. Proceedings of the International
Conference on Small and Medium Scale Enterprises, 3, 213-240. Sintok:
Universiti Utara Malaysia.
Shahadan, F., Berma, M., Zin, M.R., & Mahbar, Z. (1998). The growth constraints of
small and medium enterprise in Malaysia: Myth or reality? Proceeding of the
International Conference on Small and Medium Scale Enterprise, 3, 277-303.
Sintok: Universiti Utara Malaysia Publisher.
Shapero, A. & Sokol, L. (1982). The social dimension of entrepreneurship. In C.A.
Kent, D.L. Sexton, & K.H. Vesper (Eds.), Encyclopedia of Entrepreneurship
(pp. 72-90). Eaglewood Cliffs NJ: Prentice Hall.
Sharpe, S. A. (1989). Asymmetric information, bank lending and implicit contract: A
stylized model of customer relationship. Finance and Economic Discussion
Series No.7. Washington DC: Federal Reserve Board, May.
Simons, R. (1991). Strategic orientation and top management attentions to control
system. Strategic Management Journal, 49-62.
Siu, W.S. (1992). Corporate entrepreneurs in the People's Republic of China:
Problems encountered and respective solutions. International Small Business
Journal, 10(4), 26-33.
316
Siwa, C., Jaafar, Abd. H., & Zin, A.M. (1998). Rural small scale industries:
Empirical evidence and policy issues. Proceeding of International
Conference on Small and Medium Scale Enterprises, 3, 127-152. Sintok:
Universiti Utara Malaysia Publisher.
Smallbone, D. (1990). Success and failure in new business start-ups. International
Small Business Journal, 8(2), 34-47.
Smallbone, D. (1995). The survival, growth and support needs of manufacturing
SMEs in Poland and the Baltic States. Paper presented at seminar on
Developing Research Agenda. Poland: University of Lodz.
SMIDEC. (2004). SME performance 2003. Kuala Lumpur: Small and Medium
Industries Development Corporation.
Smith, N.R. (1967). The entrepreneur and his firm: the relationship between type of
man and type of company. Bureau of business and economic research,
division of research, Graduate School of Business Administration, Michigan
State University, East Lansing Michigan.
Sombart, W. (1950). The Quintessence of capitalism: A study of the history and
psychology of the modern business Man (translated M. Epstein). London:
Fisher and Unwin.
SPSS Inc., (1999). The SPSS base 10.0: User's guide. SPSS Inc., United State of
America.
Starr, J. & Bygrave, W. (1991). The second time around: the outcomes, assets and
liabilities of prior start-up experience. Paper presented at the Inaugural
Global Conference on Entrepreneurship Research. London: February 18-20.
Stevenson, H. H., & Gumpert, D.E. (1985). The Heart of Entrepreneurship. Harvard
Business Review, March-April, 85-94.
Stoll, H. R., & Curley, A. J. (1970). Small business and new issues market for
equities. Journal of Financial and Quantitative Analysis, 5(3), 309-322.
Stoner, C. (1983). Planning in small manufacturing firms: A survey. Journal of
Financial and Quantitative Analysis, 21 (1), 34-41.
Storey, D. J., Watson, R., & Wynarczyk, P. (1989). Fast-growth small business:
Case studies of 40 small firms in Northern England. London: Department of
Employment.
Stuart, R.W. & Abetti, P.A. (1988). Field Studies of Technical Venture-Part III: the
impact of entrepreneurial and management experience on early performance.
In Frontiers of Entrepreneurship Research, Babson College, 177-193.
317
Susanti, A. (2002). Indonesia. In Asian productivity organization (Ed.) SMEs in
competitive markets, (pp. 74-92). Tokyo: Asian Productivity Organization.
Suzuki, M. (1998). An Outline of Japan’s Policies for Small/Medium Enterprises.
Paper presented at the Proceedings of the International Conference on Small
and Medium Scale Enterprises, Vol.2, Sintok: Universiti Utara Malaysia
Publisher.
Swierczek, F.W., & Jatusripatak, S. (1994). Exploring the entrepreneurship cultures
in Southeast Asia. Journal of Enterprising Culture, 4(2), 687-708.
Szegedi, Z. (1989). The economy and international business in Hungary. Journal of
Business Administration, 19(1&2), 109-120.
Tambunan, T. (1992). The role of small firms in Indonesia. Small Business
Economics, 4(1), 59-77.
Tambunan, T. (1994). Rural small scale industries in a developing region: A sign of
poverty or progress?-A case study in Ciomas Subdistrict, West-Java province,
Indonesia. Entrepreneurship & Regional Development, 6, 1-13.
Tambunan, T. (1999). Perkembangan industri kecil di Indonesia. Jakarta: PT.
Mutiara Sumber Widya.
Tan, W.C.M; & Tay, R.S.T.; (1995). Factors contributing to the growth of SMEs:
The Singapore case. Journal of Enterprising Culture, 3(2), 197-210.
Teo, S. & Cheong, S. (1994). Difficulty faced by SMEs in Obtaining from financial
institutions. Journal of Enterprising Culture, 2(4), 955-968.
Terpstra, D.E. & Olson, P.D. (1993). Entrepreneurial start-up and growth: A
classification of problems. Entrepreneurship Theory and Practice, Spring: 5-
20.
Tervo, H., & Niittykangas, H. (1994). The impact of unemployment on new firm
formation in Finland. American Small Business Journal, 13(1), 38-53.
Thongpakde, N., Puppahavesa, W., & Pussarangsri, B. (1994). Thailand. In S.D.
Meyanathan (Ed.). Industrial structure and the development of small and
medium enterprise linkages: Example from East Asia (pp. 123-149).
Washington DC: The International Bank for Reconstruction and
Development.
Thyer, B. A. (1993). Single system research design. In R.M Grinnel (ed.), Social
Work, Research and Evaluation, (4th ed.), Illinois: F.E. Peacock Publishers.
Trang, N.P.Q; Anh, B.T., Tien, H.M., Thanh, H.X., & Thu, N.T.H.; (2001). Doing
business under the new enterprise law: A survey of newly registered
companies. Private Sector Discussions, No.12. Published by Mekong Project
318
Development Facility (MPDF).
Tsui, J. S. L. (2001). The impact of culture on the relationship between budgetary
participation, and management accounting systems, and managerial
performance: An analysis of Chinese and western managers. The
International Journal of accounting, 36, 125-146.
Tusneem, E. M. (2003). Private Sector Assessment: People's Republic of China.
Philippines, Manila: Asian Development Bank-Head Office.
Turner, R. (1997). Management accounting and SMEs: A question of style?
Management Accounting, 75(7), 24-25.
Turok, I. (1991). Which small firms grow?, Recent Research in Entrepreneurship.
Ueda, T. (1995). Opportunities and constraints in the informal sector in Cambodia.
Paper Prepare for World Bank, Cambodia: World Bank, September.
United Nations. (2001). Country presentation by the RGC. Paper presented at the
Third United Nations on the Least Development Countries. Brussels, 14-20
May 2001.
Van Auken, H.E., & Carter, R.B. (1989). Acquisition of capital by small business.
Journal of Small Business Management, 27, 1-9.
Veblen, T. (1965) The engineer and the price system. New York: A.M. Kelley
Booksellers.
Wallace, A. F. C. (1961). Culture and Personality. New York: Random House.
Wahab, I. (1996). Financing the growth of small manufacturing firms in developed
and developing countries: A comparative study of the United Kingdom and
Malaysia. Unpublished doctoral dissertation. Loughborough University.
Watson, J. & Everett, J. (1993). Defining small business failure. International Small
Business Journal, 11(3): 35-48.
Weaver, K. M., Berkowitz, D., & Davies, L. (1998). Increasing the Efficiency of
National Export Promotion Programs: The Case of Norwegian Exporters.
Journal of small Business Management, October: 1-11.
Webster, L. (1999). SMEs in Vietnam: On the road to prosperity. Private Sector
Discussions, No. 10. Published by Mekong Project Development Facility
(MPDF).
Webster, L., & Boring, D. (2000). The private manufacturing sector in Cambodia: A
survey of 63 firms. Mekong Project Development Facility (MPDF), No. 11,
November, 2000.
319
Webster, L.A. (1998). Applied statistics for business and economics: An essentials
version. (3rd ed.). Singapore: McGraw-Hill Companies, Inc.
Wie, T.K. (1994). Indonesia. In S.D. Meyanathan (Ed.). Industrial structure and the
development of small and medium enterprise linkages: Example from East
Asia (pp. 95-122). Washington DC: The International Bank for
Reconstruction and Development.
Wie, T.K. (1999). Executive summary. In R. Brazier, S. Sianipar (Eds.). Indonesia's
anti-monopoly law and its impact on small and medium enterprises (pp. 5-
15). Indonesia-Jakarta: The Asian Foundation.
Wijewardena, H. & Cooray, S. (1996). Factors contributing to the growth of small
manufacturing firms: perception of Japanese owners/managers. Journal of
Enterprising Culture, 4(4), 351-361.
Withane, S. (1996). Broadening the concept of entrepreneurship: A multidisciplinary
approach. Journal of Enterprising Culture, 4(3), 225-240.
Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management
Journal, 5((April-June)), 171-180.
Wong, S.T. (1994). Industrial structure and the development of small and medium
enterprise linkages: In S.D. Meyanathan (Ed.). Singapore: Example from
East Asia, (pp. 67-93). Washington DC: The International Bank for
Reconstruction and Development.
World Bank Group (2004). Cambodia seizing the global opportunity: Investment
climate assessment and reform strategy. Financial and Private Sector
Development Unit, East Asia and the Pacific Region, Report No. 27925-KH.
World Bank, IFC, & MPDF (2004). Toward a private sector development strategy
for Cambodia investment climates assessment. Published by World Bank,
International Finance Corporation (IFC), Mekong Project Development
Facility (MPDF), The first draft report on
Wyer, P. (1999). The implication of the economic crisis for SMEs: A micro
perspective. In M.A. Abdullah, M.I.Hj. Bakar, J. Ali, & L.J. Heng (Eds), The
International Conference on Small and Medium Enterprises at New
Crossroads: Challenges and Prospects, Absracts.
Yeo, A.M. (Ed.). (1994). Academic essays on current issues in Cambodia. Published
by Cambodia Development Resource Institute (CDRI), Phnom Penh,
Cambodia.
Young, S. M. (1985). Participative budgeting: The effects of risk aversion and
asymmetric information on budgetary slack. Journal of Accounting Research,
22(2), 829-842.
Zikmund G.W. (2003). Business research methods (7th ed.). USA: South-Western,
320
Division of Thomson Learning.
Zikmund, G.W. (1991) Exploring marketing research. USA: The Dryden Press,
International Edition.
Zulpilip, T., & Ling, I.S.S. (1998). Small scale industry in Sarawak and its future
role in the state economy. Proceeding of the International Conference on
Small and Medium Scale Enterprises, 3, 1-18. Sintok: Universiti Utara
Malaysia Publisher.
Zwiek, J. (1964). A handbook of small business finance (7th ed.). Business
Management Series, 15.
doc_649698594.pdf