dc.contributor.author | LUCEY, BRIAN | en |
dc.date.accessioned | 2014-02-27T15:05:59Z | |
dc.date.available | 2014-02-27T15:05:59Z | |
dc.date.issued | 2014 | en |
dc.date.submitted | 2014 | en |
dc.identifier.citation | Mac an Bhaird, Ciaran Lucey, Brian, Culture s Influences: An investigation of inter-country differences in capital structure, Borsa Istanbul Review, 2014 | en |
dc.identifier.other | Y | en |
dc.description | PUBLISHED | en |
dc.description.abstract | Employing firm-level observations from 13 countries over a seven year period, and controlling for an extensive set of firm-level characteristics, industry effects and country-level institutional variables, we provide a conceptual framework and empirical analysis of how culture influences capital structure in small and medium sized enterprises (SMEs). Uncertainty avoidance and individuality are negatively related with long-term debt, highlighting SME owners desire to avoid heightened business risk, reduce interference from debt providers, and maintain autonomy and independence. Negative relationships between power distance and debt suggest a more consultative role with financial institutions, facilitating greater access to debt. Policy makers should take account of the powerful consequences of cultural influences when designing and implementing financing initiatives. | en |
dc.language.iso | en | en |
dc.relation.ispartofseries | Borsa Istanbul Review | en |
dc.rights | Y | en |
dc.subject | small and medium sized enterprises (SMEs) | en |
dc.title | Culture's Influences: An investigation of inter-country differences in capital structure | en |
dc.type | Journal Article | en |
dc.type.supercollection | scholarly_publications | en |
dc.type.supercollection | refereed_publications | en |
dc.identifier.peoplefinderurl | http://people.tcd.ie/blucey | en |
dc.identifier.rssinternalid | 92228 | en |
dc.rights.ecaccessrights | OpenAccess | |
dc.subject.TCDTheme | International Integration | en |
dc.identifier.uri | http://hdl.handle.net/2262/68168 | |