This paper investigates the impact that bank switching has on loan availability and credit terms of small and micro firms. We are able to separate between different reasons behind the bank switch. Our data includes firms which have undergone bank change after the failure of their main bank,...

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...

This study examines the use and determinants of covenants in Finnish small firms' loans. The results show that 72 of the 642 loan contracts examined include at least one covenant. Negative covenants are more common than affirmative covenants in our sample. We use loan characteristics, firm...

This paper examines trade credit policies of small firms operating in a bank-dominated environment (Finland). We find that creditworthiness and access to capital markets are important determinants of trade credit extended by sellers. The level of purchases is positively correlated with the level...

This study investigates the impact that family ownership has on loan availability and credit terms. Our study differs from existing literature by investigating the impacts of family ownership on loan availability and credit terms in a sample of small and micro Finnish firms. Our results suggest...

The objective of this study is to investigate the impact of gender on the usage of different funding sources in a sample of Finnish SMEs. The aim is also to embed the results into the country-context, which is characterized by the long history of women's economic activity and bank-based capital...

This study investigates the interaction between audit quality and agency costs, when managerial ownership is used as a proxy for agency costs. The literature on audit quality suggests that firms with high agency costs are more likely to demand audit quality. Our database enables us to compare...

Purpose –This paper aims to focus on economic consequences of audit outcomes by investigating the concept of audit quality operationalised as seven components of audit benefits to owner-managers of small companies. Design/methodology/approach –The authors analyse survey data collected in...