Export für Ihre Literaturverwaltung

Übernahme per Copy & Paste
Bibtex-Export
Endnote-Export

       

Weiterempfehlen

Bookmark and Share


Is the use of bank debt as a governance mechanism conditioned by the financial system? The cases of Chile and Spain

[Zeitschriftenartikel]

Saona, Paolo; Vallelado, Eleuterio

Zitationshinweis

Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):http://nbn-resolving.de/urn:nbn:de:0168-ssoar-251977

Weitere Angaben:
Abstract We test whether the use of bank debt as a governance mechanism is conditioned by the financial system in which firms operate. Our results indicate that the legal and institutional environment determines the use of bank debt to finance growth opportunities. Firms use bank debt to finance their growth opportunities when the country’s banking system contributes to solving agency and asymmetric information problems and avoiding information monopoly costs. The evolutionary process of the financial systems in each country means that market imperfections such as information asymmetry or agency costs can have a diverse influence on firms’ bank debt decisions.
Klassifikation Finanzwirtschaft, Rechnungswesen
Freie Schlagwörter Bank debt; Financial system; Growth opportunities; Ownership structure
Sprache Dokument Englisch
Publikationsjahr 2010
Seitenangabe S. 1709-1726
Zeitschriftentitel Applied Economics, 42 (2010) 13
DOI http://dx.doi.org/10.1080/00036840701736065
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)
top