ARE THE IMPLICATIONS OF THE FINANCIAL GROWTH CYCLE CONFIRMED FOR SPANISH SMES?

Volume: 13, Issue: 4, Pages: 637 - 665
Published: Sep 17, 2012
Abstract
The aim of this paper is to analyze whether some of the empirical implications of the financial growth cycle hold in a sample of Spanish SMEs. We use a sample of 5,944 observations for the year 2007 and test several hypotheses using MANOVA analysis. The results show that companies tend to have different financing structures depending on their age and size. Hypotheses about trade credit, short term debt and risk are confirmed with respect to age,...
Paper Details
Title
ARE THE IMPLICATIONS OF THE FINANCIAL GROWTH CYCLE CONFIRMED FOR SPANISH SMES?
Published Date
Sep 17, 2012
Volume
13
Issue
4
Pages
637 - 665
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