Niskanen, Mervi; Niskanen, Jyrki - In: Journal of small business management : JSBM ; a joint … 48 (2010) 1, pp. 16-31
This study investigates the impact that managerial ownership has on loan availability and credit terms. We find that managerial ownership is common in a sample of small and medium-sized Finnish firms. Our results suggest that an increase in managerial ownership decreases loan availability. The...