Firm-level heterogeneity and performance implications: An empirical investigation

Author(s)	Mr. NAVIN M S, Dr. G Madan Mohan
Country	India
Abstract	This study examines the association between the firm-level characteristics and strategic performance (SP) and financial performance (FP) of Micro, Small and Medium Enterprises (MSMEs). In particular, this study investigates the individual and collective contributions of firm age, nature of business, ownership structure, number of employees, funding sources and type to the SP and FP of MSMEs operating in Tamil Nadu, India, using the General Linear Model procedure in SPSS. The findings reveal that firm-level characteristics collectively exhibit a statistically significant association with SP and FP, whereas firm type contributes to FP individually. The study contributes to MSME literature by simultaneously examining multiple firm-level characteristics in relation to two different performance dimensions. The findings highlight the practical implications for academicians, owners and policymakers.
Keywords	firm-level characteristics, financial performance, MSMEs, strategic performance
Field	Business Administration
Published In	Volume 8, Issue 5, September-October 2026
Published On	2026-10-17
DOI	https://doi.org/10.36948/ijfmr.2026.v08i05.90024

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