The short-term debt choice under asymmetric information
Abstract This paper investigates whether the market level of information asymmetry affects firms’ debt financing decisions. Using a sample of non-financial listed firms and a composite index based on microstructure measures of information asymmetry, we find that firms with more information asymmetry...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
SpringerOpen
2017-09-01
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| Series: | SERIEs: Journal of the Spanish Economic Association |
| Subjects: | |
| Online Access: | http://link.springer.com/article/10.1007/s13209-017-0160-2 |