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dc.contributor.authorLUCEY, BRIANen
dc.date.accessioned2014-02-27T15:05:59Z
dc.date.available2014-02-27T15:05:59Z
dc.date.issued2014en
dc.date.submitted2014en
dc.identifier.citationMac an Bhaird, Ciaran Lucey, Brian, Culture s Influences: An investigation of inter-country differences in capital structure, Borsa Istanbul Review, 2014en
dc.identifier.otherYen
dc.identifier.urihttp://hdl.handle.net/2262/68168
dc.descriptionPUBLISHEDen
dc.description.abstractEmploying firm-level observations from 13 countries over a seven year period, and controlling for an extensive set of firm-level characteristics, industry effects and country-level institutional variables, we provide a conceptual framework and empirical analysis of how culture influences capital structure in small and medium sized enterprises (SMEs). Uncertainty avoidance and individuality are negatively related with long-term debt, highlighting SME owners desire to avoid heightened business risk, reduce interference from debt providers, and maintain autonomy and independence. Negative relationships between power distance and debt suggest a more consultative role with financial institutions, facilitating greater access to debt. Policy makers should take account of the powerful consequences of cultural influences when designing and implementing financing initiatives.en
dc.language.isoenen
dc.relation.ispartofseriesBorsa Istanbul Reviewen
dc.rightsYen
dc.subjectsmall and medium sized enterprises (SMEs)en
dc.titleCulture's Influences: An investigation of inter-country differences in capital structureen
dc.typeJournal Articleen
dc.type.supercollectionscholarly_publicationsen
dc.type.supercollectionrefereed_publicationsen
dc.identifier.peoplefinderurlhttp://people.tcd.ie/bluceyen
dc.identifier.rssinternalid92228en
dc.rights.ecaccessrightsOpenAccess
dc.subject.TCDThemeInternational Integrationen


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