| Title |
|
|
|
Quantity and quality of information and SME financial structure
|
|
| Author |
|
|
|
|
|
| Abstract |
|
|
|
| We test whether the amount and/or quality of financial statement information affects the financial structure of small and medium-sized enterprises (SMEs). Belgian SMEs are used, because there are important differences in disclosure and audit requirements among them. Consistent with the traditional view that asymmetric or incomplete information restricts access to external funds, our results indicate that both the amount and quality of financial statement information are positively related to SME leverage. In addition, we find that leverage is positively related to asset structure, growth (prospects) and median industry leverage, and negatively related to firm age and profitability. | |
|
| Language |
|
|
|
English
|
|
| Source (journal) |
|
|
|
Small business economics: an international journal. - Dordrecht |
|
| Publication |
|
|
|
Dordrecht : 2012
|
|
| ISSN |
|
|
|
0921-898X
|
|
| Volume/pages |
|
|
|
39:2(2012), p. 341-358
|
|
| ISI |
|
|
|
000305806900005
|
|
| Full text (Publisher's DOI) |
|
|
| |
|
| Full text (publisher's version - intranet only) |
|
|
| |
|