In this article we analyse the impact of firms’ size on their financial and cost structure. We use a panel of 2000 Spanish manufacturing firms for the period 1991-1998. We find that the marginal cost of external finance of firms varies inversely with their size. Also the smaller the firm the...

Small and medium-sized enterprises (SMEs) are the backbone of the Asian economy. They make up more than 98% of all Asian businesses that provide two out of three private sector jobs in the region. Therefore, it is vitally important for Asia's economic success to have fully functioning support...

In this paper we test whether the amount and/or quality of financial statement information affect the financial structure of Small and Medium Enterprises (SMEs). We explore this issue for Belgian SMEs because there are important differences in disclosure and audit requirements among them....

Este trabajo pone de manifiesto la necesidad de tener en cuenta los efectos de interacción que se generan entre las pymes y los agentes económicos de su entorno a la hora de determinar la estructura financiera de estas empresas. Para ello, desarrollamos una aplicación empírica sobre una...

There is tremendous interest, in the economic literature, for the determinants of firms’ capital structure decisions. A rich body of empirical works now exists that purports to identify firm- and country-level factors affecting firms’ financing patterns. In addition, more recently, a new...

We investigate the role of financial constraints on firms' exporting behavior, including firms' export decision, export intensity, firms starting to export decision, and exports persistence. Our financial constraints variable is a synthetic variable that summarizes information on different...