Andrés Alonso, Pablo de; López-Iturriaga, Félix; … - Programa Interuniversitario de Doctorado en Nuevas … - 2004
We test hypotheses about the structure of corporate debt ownership and the use of bank debt by firms in a civil-law country, Spain. We focus on bank debt effects in the presence of information asymmetrics and agency costs, and on efficient versus inefficient firm liquidation. We find that the...