Abstract
This study examined enterprise-profile differences in Physical Capital, Financial Capital and Human Capital and their associations with sales- and employment-based performance among 266 registered micro, small and medium enterprises (MSMEs) in Manticao, Lugait and Naawan, Misamis Oriental, Philippines. The study used a quantitative retrospective cross-sectional design: current resource conditions and recalled annual performance categories for 2021-2023 were obtained in one survey administration and therefore were not treated as longitudinal observations. Capital domains were measured with six-item four-point composite scales, while performance was represented by ordered annual sales and employment-change categories. Descriptive statistics, Kruskal-Wallis tests with effect sizes, Dwass-Steel-Critchlow-Fligner pairwise comparisons, a multiplicity sensitivity screen and multiple linear regression were applied. Physical Capital (M = 2.54) and Financial Capital (M = 2.69) were high, whereas Human Capital was low (M = 1.83). Sales-based performance (M = 1.55) and employment-based performance (M = 1.21) remained concentrated in the lower categories. Total assets produced the most consistent profile differences. In the unadjusted regressions, Physical Capital and Human Capital were positively associated with both performance outcomes; the models explained 19.7% of sales-based variance and 21.9% of employment-based variance. Financial Capital did not add a statistically significant unique coefficient after the other capital domains were considered, but this should not be interpreted as evidence that finance is unimportant. The findings emphasize human-capital development, productive asset upgrading and careful attention to firm-size and asset heterogeneity in MSME support and future research.
Keywords: Business Performance, Enterprise Profiles, Financial Capital, Human Capital, MSMEs, Physical Capital.