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| Author: | Scherr, F. C. Hulburt, H. M. |
| Title: | The debt maturity structure of small firms |
| Journal: | Financial Management
2001 : SPRING, VOL. 30:1, p. 85-111 |
| Index terms: | Financial management Small and medium-sized enterprises (SMEs) Debt management |
| Language: | eng |
| Abstract: | Small firms differ from large firms in taxability, ownership, flexibility, industry, economies of scale, financial market access, and level of information asymmetry. The authors investigate the determinants os small firms' choice of the maturity structure of debt. They find that small firms' maturity of assets, capital structure, and probability of default are statistically and economically important in the choice of debt maturity. They also find liitle evidence that small firms' growth options, level of asymmetric information, and tax status affect debt maturity choice. |
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