Abstract
Using data of ALMANAC Business and Industrial Financial Ratios(2003), this paper investigates the impacts of strategies on profitability of small firms according to firm size classification. The results show as follows : 1. The relationship between advertising or capital intensity and profitability is different according to firm size classification. 2. The association of inventory and debt with profitability in all 3 groups are not significant as unexpected results. This suggests that advertising and capital intensity of small firms may be differently pursued according to size classification and situation. The results provide useful and beneficial information for strategic planning of small firms and for academic research.
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