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I identify the effects of personal relationships on loan contracting using executive deaths and retirements at other firms as a source of exogenous variation in executive turnover. After plausibly-exogenous turnover, borrowers choose lenders with which their new executive's have personal...
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for SME development. To achieve this objective, a total of 800 structured questionnaires were developed through an … effect on a firm’s financial performance, business motivation, customers’ perspective/attraction, and an increase in market …
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