I study the relationship between debt maturity and agency conflicts between controlling and minority shareholders in unlisted firms. Exploiting cross-province variance in the development of local credit markets, I find that the monitoring effect of short-term bank debt is more effective in firms with less concentrated ownership structures.
Murtinu, S., Debt Maturity, Ownership Concentration, and Firm Efficiency, <<ECONOMICS BULLETIN>>, 2015; 35 (4): 2610-2616 [http://hdl.handle.net/10807/79243]
Autori: | |
Titolo: | Debt Maturity, Ownership Concentration, and Firm Efficiency |
Data di pubblicazione: | 2015 |
Abstract: | I study the relationship between debt maturity and agency conflicts between controlling and minority shareholders in unlisted firms. Exploiting cross-province variance in the development of local credit markets, I find that the monitoring effect of short-term bank debt is more effective in firms with less concentrated ownership structures. |
Lingua: | Inglese |
Rivista: | |
Citazione: | Murtinu, S., Debt Maturity, Ownership Concentration, and Firm Efficiency, <<ECONOMICS BULLETIN>>, 2015; 35 (4): 2610-2616 [http://hdl.handle.net/10807/79243] |
Appare nelle tipologie: | Articolo in rivista, Nota a sentenza |
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