A Comparison of Financing for Small, Medium-Sized (SMEs) and Large Family Firms: A Scientific Literature Review

This study purposed to compare financing decisions based on debt and equity in SMEs and large family firms. Moreover, our works consist of the scientific review of 20 references of empirical studies on SMEs and large family firms financing, which were published from 2011 to 2021. The results indicate discrepancies between SMEs and large family firms' financing policies. Small and medium-sized (SMEs) family firms are more likely to use internal financing and look for bank loans rather than external equity. On the other hand, large family firms are more willing to seek debt financing instead of issuing shares on the stock exchange. Finally, we expect the proposed work contributes to the literature on financing SMEs and large family firms.