Impact Of Entrepreneurial Orientation On Financial Performance Of Lebanese Firms
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Impact Of Entrepreneurial Orientation On Financial Performance Of Lebanese Firms
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Author : Christelle Abou Fayad
language : en
Publisher:
Release Date : 2013
Impact Of Entrepreneurial Orientation On Financial Performance Of Lebanese Firms written by Christelle Abou Fayad and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The aim of this thesis is to test the relation between the Entrepreneurial orientation of a firm's top manager and the financial performance of the Lebanese companies and how the managerial power can moderate this relationship. In that aim we elaborated four hypotheses. The first hypothesis indicated that Entrepreneurial orientation is positively correlated with financial performance. The second suggested that the educational power moderates positively the impact level of EO on firm performance. The third proposed that Structural power moderates negatively the level of EO impact on firm performance. And the fourth hypothesis stated that the Expert power moderates positively the level of EO impact on firm performance. In order to authenticate our hypothesis, we collected primary data by using quantitative method. Therefore, we completed an inquiry by surveying seventy Lebanese companies through a questionnaire formed by closed semi closed and unipolar questions. The results of the empirical study led us to conclude that by looking at EO as a uni-dimensional construct no relation were significant between the EO and financial performance but when looking at it as a multidimensional construct a very low significance appear at the level of innovativeness and proactivness and firm performance. As for the moderating effect of managerial power the results did not prove a clear improvement when testing each type of power. The fundamental reason to the results stated is that the Lebanese companies are highly family oriented.
Effects Of Family Sources Of Power On Firms Performance In Lebanon
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Author : Elie Hajj
language : en
Publisher:
Release Date : 2014
Effects Of Family Sources Of Power On Firms Performance In Lebanon written by Elie Hajj and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This research analyzes the effect of family sources of power on the corporate financial performance of Lebanese firms. Our sample was mainly involving small to medium unlisted Lebanese firms from across different sectors. We have used the multiple regression equation in order to create a relationship between family sources of power and Lebanese firm's financial performance. We have also analyzed how the family financial performance is negatively affected by a higher family ownership but on the other hand it improves the firm's growth rate and the same thing applies when considering family influence performed by the board of directors and financial performance. Furthermore, we found that with later generation ruling, the higher is the financial performance; however, this financial performance improvement comes along with a slow assets growth. With higher number of family members' shareholders, we will find an improvement in the firm financial performance and a downturn when talking about assets ' growth. To conclude, we can say that the majority of Lebanese family firms are dramatically influenced by family sources of power.
Impact Of Board Structure On Corporate Financial Performance In Lebanon
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Author : Antoine Jallad
language : en
Publisher:
Release Date : 2013
Impact Of Board Structure On Corporate Financial Performance In Lebanon written by Antoine Jallad and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
This research analyze the impact of board structure or board characteristics on the corporate financial performance in Lebanon. The sample analyzed is the listed firms in BSE and the Lebanese Commercial Bank listed in BDL. This population represents a sample of large Lebanese companies. By using the multiple regression equation we established a relationship between corporation financial performance and board characteristic considered as independent variables. Also the influence of families in increasing the presence of family members at the board and reducing the number of independent directors. Family ownerships influence negatively on the return of assets and contribute positively in the growth in the compound annual growth rate of asset. Board structure characteristics, big board size has a negative influence on ROA along with the existence of family members at the board and CEO duality, when the non executive directors do not have any influence on the financial performance. As a conclusion, Lebanese firms are heavily influenced by families that prefer long term strategies on short term benefits.
The Relationship Between Family To Business Support And Entrepreneurial Success In Lebanon
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Author : Tarek Sanyoura
language : en
Publisher:
Release Date : 2014
The Relationship Between Family To Business Support And Entrepreneurial Success In Lebanon written by Tarek Sanyoura and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
The aim of this thesis is to better understand how family to business support affects the entrepreneurial success and the financial performance of the Lebanese companies. And how success isn't males special characteristic. For that aim we elaborated four hypotheses. The first hypothesis indicated that family to business support is positively related to entrepreneurial success. The second hypothesis suggested that the Lebanese entrepreneurs are positively job satisfied. The third hypothesis proposed that there are no differences in gender-based performance in the Lebanese SMEs. And finally, the fourth hypothesis suggested that family to business support is positively related to female entrepreneurial success. In order to authenticate our hypotheses we have collected primary data by using a quantitative method technique by performing an inquiry by surveying 50 Lebanese companies through a questionnaire formed by closed questions and modulators. This research analyzes the impact of family to business support on entrepreneurial success. By using the multiple regression equation we established a relationship between the different family to business support factors and the variable controls used to for the research such as age, gender, salary ... Also we studied if the Lebanese entrepreneurs are positively job satisfied. And if gender-based influence on the performance of the studied enterprises. And finally, we studied the positive relationship between female and entrepreneurial success. Analyzing the results, the factors studied as family to business support represent a small portion of the variables influencing the entrepreneurial success and therefore we concluded that there is no relationship between family to business support as we studied it and entrepreneurial success. And, Lebanese entrepreneurs are highly satisfied and very content of the performance and the results of their firms. Also, we concluded from our research that there is a positive difference in performance results between male and female gender. And finally studying our last hypothesis, we concluded that female entrepreneurs rely on the family to business support to succeed in their firms.
Impact Of Family Involvement In Ownership Management And Direction Of Financial Performance Of The Lebanese Firms
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Author : Georges Samara
language : en
Publisher:
Release Date : 2013
Impact Of Family Involvement In Ownership Management And Direction Of Financial Performance Of The Lebanese Firms written by Georges Samara and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The aim of this thesis is to better understand how family involvement in ownership management and direction affects the financial performance of the Lebanese companies. In that aim we elaborated four hypotheses. The first hypothesis indicated that family involvement in ownership and management is positively correlated with financial performance. The second suggested that entrenchment and asymmetric altruism will lead to negative correlation with the financial performance. The third proposed that involvement by ownership and management by heirs is negatively correlated to financial performance. Finally, the fourth hypothesis suggested that the presence of outside directors in firms governed by later generations is positively correlated with financial performance. In order to authenticate our hypotheses we collected primary data by using a quantitative method. In fact, we performed an inquiry by surveying 75 Lebanese companies through a questionnaire formed by closed and semi-open questions and modulators. While finishing the empirical study, we concluded that family involvement in ownership and management has a positive relationship with the financial performance of the Lebanese company. Moreover, issues like entrenchment and asymmetric altruism, in addition to involvement by heirs, did not prove to have a significant relationship with the financial performance. Plus, the presence of outside directors in firms governed by heirs, did not have significant relationship with the financial performance. The essential reason to the results previously stated is that family managers in Lebanon act as stewards by considering the success of the company as their own, rather than agents seeking to achieve their personal benefit on the expense of the company.
Effects Of Internal Control Stucture On Financial Performance In Lebanese Industry Sector
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Author : Zeina Farah
language : en
Publisher:
Release Date : 2014
Effects Of Internal Control Stucture On Financial Performance In Lebanese Industry Sector written by Zeina Farah and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
The Relationship Between Corporate Governance And Financial Performance
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Author : Rodolph Abi Zeid
language : en
Publisher:
Release Date : 2013
The Relationship Between Corporate Governance And Financial Performance written by Rodolph Abi Zeid and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The study examine if there is a positive relationship between good corporate governance and the financial performance for Lebanese firms. However, the uncertainty of whether good corporate governance influences firm performance, raise the answer of the study by using evidence from the Lebanese market. The sample consists of thirty Lebanese commercial banks operating in the market and registered in BDL. Using SPSS16 software to create statistical relation between variables, a multiple regression equation was defined in order to explain the relation between board of director performance and firm performance. The results were unexpected showing a high level of board of director accountability where CEO duality and inside directors showed a positive relation with strong financial performance yielding superior return. While board independence demonstrates a negative insignificant relationship with financial performance, firm disclosure presents a moderate relation with performance. The present study finds that overall board of directors' action has a positive impact on firm performance in order to select the right candidate who will fulfill his job in a best way to achieve superior performance.
Current Trends In Entrepreneurship Entrepreneurial Orientation Intention And Alertness
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Author : Anna Ujwary-Gil
language : en
Publisher: Cognitone Foundation for the Dissemination of Knowledge and Science
Release Date : 2023-01-01
Current Trends In Entrepreneurship Entrepreneurial Orientation Intention And Alertness written by Anna Ujwary-Gil and has been published by Cognitone Foundation for the Dissemination of Knowledge and Science this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-01-01 with Business & Economics categories.
Business consulting, knowledge absorptive capacity, and innovativeness: A triangular model for micro and small enterprises in Poland Abstract PURPOSE: This paper proposes a triangular relationship between business consulting, knowledge absorptive capacity, and innovativeness. The role of knowledge absorptive capacity in stimulating the impact of business consulting on innovativeness is studied. METHODOLOGY: An empirical study is conducted using the CATI method, and it is based on data concerning 382 Polish micro and small enterprises. Qualitative variables reflecting using business consulting, knowledge absorptive capacity and innovativeness are defined. The multivariate discrete choice model taking into account relationships among these constructs, is proposed and its parameters are estimated. FINDINGS: The results of the empirical research indicate that business consulting in Poland and similar countries may help firms implement innovative solutions. Knowledge absorptive capacity stimulates innovativeness and has a positive impact on the relationship between using business consulting and improvement in innovativeness. Though the frequency of using business consulting is an important factor in improving innovativeness, cooperation between a consultant and a manager matters more. IMPLICATIONS: Results of the empirical research indicate that cooperation between a consultant and a manager may help reduce differences of opinion and internal conflicts. A higher propensity to cooperate may significantly improve the functioning of an enterprise. Business consulting has an indirect and direct effect on innovativeness. It has a positive impact on knowledge absorptive capacity, while better knowledge stimulates innovativeness. ORIGINALITY AND VALUE: An original triangular model of the relationship between business consulting, knowledge absorptive capacity, and innovativeness is proposed. Advanced econometric methods are used in order to find complex relationships between using business consulting, knowledge absorptive capacity, and improvement in innovativeness. Moreover, results of the estimation of the parameters of the econometric model provide interesting recommendations for policies supporting the development of business consulting in the Polish economy. Keywords: business consulting, knowledge absorptive capacity, innovativeness, multivariate discrete choice model, development support policy, econometric model, economy Sustainable development and entrepreneurship in emerging countries: Are sustainable development and entrepreneurship reciprocally reinforcing? Abstract PURPOSE: Entrepreneurship seen as an engine for economic development is especially desirable for emerging countries to support rapid growth. Moreover, entrepreneurs can support social transformation in favor of more sustainable products and services. Sustainable orientation of entrepreneurship contributes to sustainable development goals and prevents environmental deprivation. However, the sustainable development agenda can also influence entrepreneurship. METHODOLOGY: The conducted bibliometric analysis confirmed the growing interest among scholars in the correlation of entrepreneurship to sustainability in the last years. Furthermore, panel regression (static model) was used to explore the variables on entrepreneurship influencing the sustainable development goal (SDG) index in emerging countries, and Levin, Lin and Chu (LLC), W-Stat – IPS, ADF-Fisher Chi-Square, and PP-Fisher Chi-Square tests were applied to analyze the variables stationarity. In order to examine the existence of structural breaks, the robustness was checked on single cross-section units and on the whole panel dataset. In addition, the Hausmann test was used to select between random and fixed effects, and heteroskedasticity of residues, autocorrelation of residues and dependence of residues between the panels were conducted. Data was analyzed through Eviews 13. FINDINGS: This paper investigates the relationship between sustainability and entrepreneurship in emerging countries. It discusses the impact of sustainable development on entrepreneurship and the influence of entrepreneurship on sustainable development. IMPLICATIONS: The study results can be used by governments and policymakers to plan their strategies and policies concerning entrepreneurship and implementation of sustainable development goals. They should promote entrepreneurial activity and control the negative environmental impact of enterprises simultaneously. ORIGINALITY AND VALUE: The research addresses the gap in the literature concerning the relationship between sustainable development and sustainable entrepreneurship. The paper examines the reciprocal relationship between sustainable development and entrepreneurship with an emphasis on emerging countries. Keywords: entrepreneurship, sustainability, sustainable development, sustainable entrepreneurship, emerging countries, entrepreneurs Is Team Entrepreneurial Orientation important in generating creative business ideas? The moderating role of team-perceived heterogeneity and the individual creative mindset Abstract PURPOSE: The study aims to unveil if Team Entrepreneurial Orientation (TEO) facilitates identification of creative market opportunities understood as novelty and quality business ideas. Entrepreneurial Orientation (EO) has rarely been measured at a team level and few studies have attempted to examine the relationship between EO and actual creative outcomes. The proposed research model searches for new patterns that can foster creativity of entrepreneurial teams. In addition, the research adds the moderating effect of perceived team heterogeneity and individual creative mindset (Growth-Creative and Fixed-Creative Mindsets) as contingency variables to improve the understanding under which circumstances the entrepreneurial teams generate creative business ideas. METHODOLOGY: The research sample comprises entrepreneurial teams from the Mondragon Team Academy in the Basque Country, Spain. The survey data were collected after the entrepreneurial teams performed idea generation. The applied experiment of idea generation of entrepreneurial teams has not been generated for the purpose of the study but it formed part of the natural processes of the selected sample of teams. The novelty and quality of business ideas were evaluated by experts in the field. The data relationships were analyzed through partial least square structural equation modeling (PLS-SEM). FINDINGS: Entrepreneurial Orientation of teams leads to product-market entries but not necessarily to novel product-market entries. Entrepreneurially oriented teams have a greater tendency to generate quality and slightly modified existing business ideas rather than to generate novel market opportunities. The applied moderators present different interaction results with the studied relationships. Specifically, individuals with a Fixed-Creative Mindset in a team have an antagonistic interaction on the TEO-Quality relationship. Team-Perceived Heterogeneity and Growth-Creative Mindset of individuals have no effect on either the TEO-Quality or the TEO-Novelty link. IMPLICATIONS: The research demonstrates the importance of contextualization of the nature of creativity in EO as a crucial antecedent of market innovations. Our study adds to the literature and practice by providing evidence that EO at a team level (TEO) plays a critical role in exploring product-market entries, given that TEO facilitates Quality outcomes only. Entrepreneurially oriented teams do not easily achieve Novel outcomes that allow them to enter new markets. Individuals with Fixed Creative Mindset in a team should be avoided as they block the relationship between Team Entrepreneurial Orientation and Quality. Likewise, our study supports the validity of Entrepreneurial Orientation at a team level, which can lead to more suitable practical implications for a team and its creativity management if applied. It could help in developing appropriate team formation and team management practices. ORIGINALITY AND VALUE: The study proposes rare and unique EO analysis at a team level and at young companies’ level (start-up). The study contributes to the original and overlooked in the literature conceptualization of EO within Schumpeter’s perspective of “creative destruction” in entrepreneurial activities. The examined theoretical foundations of EO led to clearer antecedents of behavioural effects of entrepreneurial teams towards product-market entries. The study initiates, identifies and calls for new further research lines to contribute to a greater and contingent understanding of how entrepreneurial teams generate creative business ideas, especially, novel business ideas, which are necessary for “creative destruction”, the EO construct itself and overall economic development. Keywords: entrepreneurship, creativity, team, entrepreneurial orientation, creative outcomes. Subjective norms and entrepreneurial intention: A moderated-serial mediation model Abstract PURPOSE: This study aims to clarify the effect mechanism of subjective norms on entrepreneurial intention. The results of how subjective norms contribute to forming start-up intention are inconsistent and unclear, which is notable in previous research. By integrating the theory of planned behavior and the theory of self-efficacy, we investigate whether entrepreneurial self-efficacy and attitude toward entrepreneurship serially mediate the relationship between subjective norms and intention to start a business. In addition, this study examines the moderate role of entrepreneurial education on the serial indirect effect of subjective norms on entrepreneurial intention via entrepreneurial self-efficacy and attitude toward entrepreneurship. METHODOLOGY: This study utilized a sample of 958 master’s students in Vietnam to investigate a moderated-serial mediation model of subjective norms on entrepreneurial intention. Confirmatory factor analysis (CFA) was carried out to check the reliability and validity of the scales. Then, the SPSS PROCESS macro developed by Hayes was employed to test the research model. Specifically, Model 6 was used to examine the serial indirect effect of subjective norms on start-up intention and Model 84 was implemented to investigate the moderate effect of entrepreneurial education. FINDINGS: The results of this study found that entrepreneurial self-efficacy and entrepreneurial attitude significantly mediate subjective norms’ effect on entrepreneurial intention. Especially, the results reveal that the serial mediation effect of entrepreneurial self-efficacy and attitude toward entrepreneurship was significant and entrepreneurial self-efficacy and attitude toward entrepreneurship played a fully mediating role in the relationship between subjective norms and start-up intention. In addition, this study found that the serial mediation effect of subjective norms on start-up intention via entrepreneurial self-efficacy and entrepreneurial attitude was negatively moderated by entrepreneurial education. IMPLICATIONS: The results of this study further clarify the relationship between subjective norms and entrepreneurial intention and the role of entrepreneurial education, therefore, contributing to narrowing the notable gap between this relationship. Besides, our study provides several implications for governments and policymakers to promote the intention to start a business. The finding of our study indicates that subjective norms are an important factor in promoting entrepreneurial intention. Therefore, policymakers should take some actions to promote entrepreneurial culture, such as strengthening propaganda activities to promote the image of successful entrepreneurs, praising businesses and entrepreneurs who contribute to society, and giving evidence of their contribution to the development of the country. Promoting an entrepreneurial culture may increase peer group pressure on potential entrepreneurs, thus enhancing the intention to start a business. ORIGINALITY AND VALUE: This study expects to contribute to a better understanding of the effect mechanism of subjective norms on entrepreneurial intention and explain the role of entrepreneurial education in this relationship. This study explores the mediating role of entrepreneurial self-efficacy and entrepreneurial attitude in the relationship between subjective norms and the intention to start a business. Additionally, this study demonstrates that entrepreneurial education weakens the serial mediation model of subjective norms on the intention to start a business. Keywords: subjective norm, entrepreneurial self-efficacy, attitude toward entrepreneurship, entrepreneurial intention, entrepreneurial education, the theory of planned behavior, the theory of self-efficacy, moderated-serial mediation model An overview of the empirical research on entrepreneurial alertness using a systematic literature review method Abstract PURPOSE: In the last two decades, the concept of entrepreneurial alertness (EA) has been considered a key element in investigating how individuals recognize entrepreneurial opportunities. Consequently, research on entrepreneurial alertness has grown considerably, attracting researchers’ attention from not only the field of entrepreneurship, but also other academic disciplines through which this concept has been studied from a variety of perspectives. Therefore, it is time to document researchers’ cumulative knowledge on entrepreneurial alertness. The present study aims to provide a comprehensive qualitative review and evaluation of the empirical entrepreneurial alertness research. METHODOLOGY: Based on a multi-step approach used in previous studies, which guarantees a systematic, transparent, and replicable literature review, this study identified a final sample of 84 articles published in scientific journals between 2005 and 2021 that empirically tested the concept of EA. The publications were sourced from the Web of Science database. Their analysis involved the evolution of published articles, the journals that have published the most articles, the countries where the research was undertaken, the measurement scales that have been used, and the research models in which entrepreneurial alertness has been hypothesized and examined through empirical research. FINDINGS: The results show that empirical research on entrepreneurial alertness grew significantly from 2016 to 2021, during which period almost 11 articles per year were published. Seven of the journals that published the articles contributed 28 percent of the total publications. Also, the results confirm that most of the empirical research on alertness has been carried out in developing economies, from which China stands out with 14 publications, representing 16 percent of the total. Additionally, the results confirm the growing consensus regarding the conceptualization and measurement of entrepreneurial alertness. Finally, the review resulted in the identification of five broad research models in which EA has been hypothesized and examined through empirical research: antecedents, consequences, mediation, moderation, and moderated mediation. The model examining the consequences or outcomes of entrepreneurial alertness has received the most attention, with 59 articles in this context. IMPLICATIONS FOR THEORY AND PRACTICE: The identification of concepts and the type of relationship they have with entrepreneurial alertness help evaluate the advances of empirical research as well as the areas of opportunity. In this way, future studies can strengthen research and thus advance the general knowledge of alertness. The most studied topics are also a reflection of the contribution of entrepreneurial alertness toward practice, both at the individual and organizational levels. In addition, researchers interested in entrepreneurial alertness are encouraged to consider the progress made in the measurement of this aspect, which offers alternatives for investigation. ORIGINALITY AND VALUE: Based on the review of the literature, this study organizes the empirical research of entrepreneurial alertness in different research models, which provide important insights into its process. Moreover, this study uncovers potential areas to be addressed and thereby contributes to the study of entrepreneurial alertness. Keywords: entrepreneurial alertness, systematic literature review, entrepreneurial opportunity, research models, opportunity recognition, alertness, entrepreneurship The linkage between economic literacy and students’ intention of starting business: The mediating role of entrepreneurial alertness Abstract PURPOSE: Enhancing the number of entrepreneurs is a major study to combat economic and social problems. Psychological factors considered as effective stimulants for entrepreneurial behavior have attracted many researchers in the last decade. The purpose of this research attempts to examine how the influence of economic literacy can promote the intention of starting a new business among students and explore the role of entrepreneurial alertness in mediating this relationship. METHODOLOGY: The research adopted a quantitative approach in which hypotheses were statistically estimated using partial least square structural equation modeling (PLS-SEM) based on survey data using a self-administered questionnaire (n=450) from several universities in Indonesia. FINDINGS: The analysis indicates that economic literacy has a significant effect on students’ entrepreneurial alertness and intention to start a new business. Indeed, entrepreneurial alertness can mediate the relationship between economic literacy and the intention of starting a new business. However, among entrepreneurial alertness dimensions, scanning and search failed in determining the students’ intention of starting a new business. IMPLICATIONS: The result of this research can provide insight into the literature on the entrepreneurship theme and policymakers concerned with delivering new business creation. Besides, educational institutions can consider the matter of economic literacy to be part of their curricula in order to foster the students’ intention of starting a business. In addition, economic literacy also needs to be associated with examples relevant to entrepreneurial activities, especially in production, distribution, and online marketing. ORIGINALITY AND VALUE: The interesting findings of this paper serve as a reminder that entrepreneurial alertness is one of the predictor variables and mediators for raising the students’ intention. This implies that entrepreneurial alertness can be enhanced by economic literacy, as well as how they need to be used to improve course curriculum and the teaching pedagogy. Furthermore, educational institutions could provide business internship programs and entrepreneurship incubators to raise the students’ intention of starting business. Keywords: economic literacy, entrepreneurial alertness, intention, starting business
Women In Management And Firm Financial Performance Evidence From The Lebanese Market
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Author : Joséphine Omrane
language : en
Publisher:
Release Date : 2012
Women In Management And Firm Financial Performance Evidence From The Lebanese Market written by Joséphine Omrane and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Gender diversity in business organizations has received increasing attention in the academic literature. Many researchers have in fact proved that a positive relationship exists between the number of women in management and senior management positions and the firm's financial performance. The objective of this research is to provide an in depth view of the Lebanese market on the subject of gender equality in the work sphere and to prove whether they are subject to what the researchers call the glass ceiling effect, when it comes to career advancement possibilities.
The Financial Performance Of Small Firms In Lebanon 1975 1986
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Author : Mohamed A. A. Haidar
language : en
Publisher:
Release Date : 1992
The Financial Performance Of Small Firms In Lebanon 1975 1986 written by Mohamed A. A. Haidar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with categories.
The purpose of this thesis is to contribute to a better understanding of the financial performance of small businesses. This work represents a contribution to the literature on the subject. The methodology adopted may perhaps be also applied to small business in many developing countries. The approach takes the form of a multi-stage model assessing the firm's financial performance. This is applied to small firms in Lebanon during the war period between 1975 and 1985.A review of the literature on financial performance is presented identifying the key issues of concern and debate where research was needed with special concentration on small firms. Furthermore, an extensive and original historical review of the literature which chronologically describes the Lebanese socioeconomic system is presented. Severed hypotheses were formed and tested practically through cut original survey undertaken in Lebanon which included 75 small manufacturing firms. The financial performance of these firms was tested extensively in terms of their manpower, financial management, structure, finance, profit and growth and the environment. The results enabled the major hypotheses to be proven. It has been demonstrated that changes in the economic and financial resources of the country as a result of the wcw have lead to a radical change in the structure of small firm. Much criticism has been made of government policy because of the limited contribution the government has made to the financing of small manufacturing firms. The major conclusions are discussed and a series of recommendations for policy makers were indicated together with suggestions for further research topics.