Financial Characteristics of Quoted and Unquoted Companies

  • Donald A. Hay
  • Derek J. Morris


This chapter sets out to explore systematic differences in financial characteristics between quoted and unquoted companies. In the process it attempts to identify the financial constraints which the two groups face, the efficiency with which they obtain finance and the implications for overall performance and policy.


Cash Flow Trade Credit Financial Characteristic Financial Behaviour Fixed Asset 
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  1. 5.
    P. Dhrymes and M Kurz, ‘Investment, Dividend and External Finance Behaviour of Firms’, in R. Ferber (ed.), The Determinants of Investment Behaviour (National Bureau of Economic Research, 1967) pp. 427–67.Google Scholar
  2. 10.
    J. Lintner, ‘Distribution of Incomes of Corporations among Dividends, Retained Earnings and Taxes’, American Economic Review, Papers and Proceedings, vol. 46, 1956, pp. 97–113.Google Scholar

Copyright information

© Donald A. Hay and Derek J. Morris 1984

Authors and Affiliations

  • Donald A. Hay
    • 1
  • Derek J. Morris
    • 2
  1. 1.Jesus CollegeOxfordUK
  2. 2.Oriel CollegeOxfordUK

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