Publication
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 (Publishers DOI)
Full text (publishers version - intranet only)
UAntwerpen
Faculty/Department
Research group
Publication type
Subject
Affiliation
Publications with a UAntwerp address
External links
Web of Science
Record
Identification
Creation 03.08.2012
Last edited 15.05.2017
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