Firm Characteristics And Capital Structure Of Small And Medium Enterprises In Kenya

ABSTRACT Small and Medium Enterprises play an important role towards economic growth and development in Kenya at large. Studies have indicated that there is a relationship between firm characteristics such as profitability, asset structure, firm size, age and capital structure of small enterprises. However, iinconsistencies have partly been traced on methodological issues majorly differences in measurement of variables and study designs. In addition, there is limited evidence on their capital structure or how they take financing decisions in Kenya. It was therefore imperative to understand ho…