This manuscript examines the influence of some variables relating to boards of directors that we consider to be proxies for power (gender diversity, duality, board size and insider ownership). Their influence on firm debt is explored. The sample examined, Spanish non-financial SMEs, has some...

This manuscript examines the influence of some variables relating to boards of directors that we consider to be proxies for power (gender diversity, duality, board size and insider ownership). Their influence on firm debt is explored. The sample examined, Spanish non-financial SMEs, has some...

Purpose: The purpose of this paper is to examine the relationship between women on the board of directors and firm performance in a comparative analysis between Italy and Spain. Design/methodology/approach: The generalized method of moment is employed to examine this relationship in a sample of...

The aim of this paper is to analyze the factors that motivate private firms to follow a conservative financial policy. Using a new definition of financial conservatism, we investigate a sample of 21,959 Italian private firms for the 1998-2006 period and look for the determinants of financial...

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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...

This paper analyses some of the empirical implications of the pecking order theory in the Spanish market using a panel data analysis of 1,566 firms over 1994-2000. The results show that the pecking order theory holds for most subsamples analyzed, particularly for the small and medium-sized...