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Cited by 469

The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.

Effects of Formal Strategic Planning on Financial Performance in Small Firms: A Meta-Analysis

Schwenk, Charles R., Shrader, Charles B.·1993·Entrepreneurship Theory and Practice
DOI 10.1177/104225879301700304
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Abstract

Researchers have been examining the effects of formal strategic planning on small firm financial performance for more than twenty years. Reviewers of prior studies have drawn differing conclusions as to whether formal planning improves small firm performance. We have applied meta-analysis for the first time to the results of previous studies on formal strategic planning and small firm performance. The results suggest that even though the size of the effects for planning for individual studies Is not large, the overall relationship between formal planning and performance across studies Is positive and significant. Much of the variance in the size of the effects, however, Is not explained by sampling error, Indicating the potential for other variables to moderate the effects of planning on the performance of small firms. It is concluded, in general, that strategic planning is a beneficial activity for small firms.

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Metadata

Authors
Schwenk, C. R., & Shrader, C. B.
Venue
Entrepreneurship Theory and Practice
Publisher
SAGE Publications
Published
1993-04
Volume
17
Issue
3
Pages
53-64
ISSN
  • 1042-2587 (ISSN-L)
  • 1540-6520
DOI
10.1177/104225879301700304
OpenAlex
W124083251
Cited by
469
References
1
FWCI
5.14
Type
journal article
Language
en
Open access
closed
Licence
journals.sagepub.com/page/policies/text-and-data-mining-license (tdm)

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CoChat. (2026). Citation check: Effects of Formal Strategic Planning on Financial Performance in Small Firms: A Meta-Analysis. https://app.cochat.ai/papers/10.1177/104225879301700304
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Schwenk, C. R., & Shrader, C. B. (1993). Effects of Formal Strategic Planning on Financial Performance in Small Firms: A Meta-Analysis. Entrepreneurship Theory and Practice. https://doi.org/10.1177/104225879301700304

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