The debt maturity structure of small firms

被引：154

作者：

Scherr, FC ^{[1
]}

Hulburt, HM ^{[1
]}

机构：

[1] W Virginia Univ, Morgantown, WV 26506 USA

来源：

FINANCIAL MANAGEMENT | 2001年 / 30卷 / 01期

关键词：

D O I：

10.2307/3666392

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Small firms differ from large firms in taxability, ownership, flexibility, industry, economies of scale, financial market access, and level of information asymmetry. We investigate the determinants of small firms' choice of the maturity structure of debt. Me find that small firms' maturity of assets, capital structure, and probability of default are statistically and economically important in the choice of debt maturity. We find little evidence that small firms' growth options, level of asymmetric information, and tax status affect debt maturity choice.

引用

页码：85 / 111

页数：27