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

Saona, Paolo; Vallelado, Eleuterio

[journal article]

dc.contributor.author	Saona, Paolo	de
dc.contributor.author	Vallelado, Eleuterio	de
dc.date.accessioned	2011-05-27T03:00:00Z	de
dc.date.accessioned	2012-08-30T07:10:04Z
dc.date.available	2012-08-30T07:10:04Z
dc.date.issued	2010	de
dc.identifier.uri	http://www.ssoar.info/ssoar/handle/document/25197
dc.description.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.	en
dc.language	en	de
dc.subject.ddc	Wirtschaft	de
dc.subject.ddc	Economics	en
dc.subject.other	Bank debt; Financial system; Growth opportunities; Ownership structure
dc.title	Is the use of bank debt as a governance mechanism conditioned by the financial system? The cases of Chile and Spain	en
dc.description.review	begutachtet (peer reviewed)	de
dc.description.review	peer reviewed	en
dc.source.journal	Applied Economics	de
dc.source.volume	42	de
dc.publisher.country	USA
dc.source.issue	13	de
dc.subject.classoz	Financial Planning, Accountancy	en
dc.subject.classoz	Finanzwirtschaft, Rechnungswesen	de
dc.identifier.urn	urn:nbn:de:0168-ssoar-251977	de
dc.date.modified	2011-05-27T09:55:00Z	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	en
ssoar.gesis.collection	SOLIS;ADIS	de
ssoar.contributor.institution	http://www.peerproject.eu/	de
internal.status	3	de
dc.type.stock	article	de
dc.type.document	journal article	en
dc.type.document	Zeitschriftenartikel	de
dc.rights.copyright	f	de
dc.source.pageinfo	1709-1726
internal.identifier.classoz	1090406
internal.identifier.journal	21	de
internal.identifier.document	32
internal.identifier.ddc	330
dc.identifier.doi	https://doi.org/10.1080/00036840701736065	de
dc.description.pubstatus	Postprint	en
dc.description.pubstatus	Postprint	de
internal.identifier.licence	7
internal.identifier.pubstatus	2
internal.identifier.review	1
internal.check.abstractlanguageharmonizer	CERTAIN
internal.check.languageharmonizer	CERTAIN_RETAINED

Files in this item

Name:: ssoar-appecon-2010-13-saona_et ...
Size:: 708.5Kb
Format:: PDF

View/Open

This item appears in the following Collection(s)

Finanzwirtschaft, Rechnungswesen
Financial Planning, Accountancy

Show simple item record