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Information Asymmetry, Risk Rating, and Debt Maturity: Evidence from Small Business Data
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Han, JoongHo | - |
dc.date.accessioned | 2009-03-04T01:08:46Z | - |
dc.date.available | 2009-03-04T01:08:46Z | - |
dc.date.issued | 2008-12 | - |
dc.identifier.citation | Seoul Journal of Business, Vol.14 No.2, pp. 47-66 | - |
dc.identifier.issn | 1226-9816 | - |
dc.identifier.uri | https://hdl.handle.net/10371/1793 | - |
dc.description.abstract | This paper examines the interactive effects of risk ratings and banking
relationships on debt maturity choice. Previous studies posit that there exist important interactions between risk ratings and proprietary information generated from monitoring. I test their predictions by introducing banking relationships as a proxy for proprietary information about borrowers. I find that, in the absence of prior banking relationships, both low-and high-risk firms borrow on shorter-term bases than intermediate-risk firms. With long-lasting banking relationships, however, the effects of risk ratings on maturity substantially decline. The findings here suggest that information asymmetry is at the root of debt maturity choice. | - |
dc.language.iso | en | - |
dc.publisher | College of Business Administration (경영대학) | - |
dc.subject | debt maturity | - |
dc.subject | information asymmetry | - |
dc.subject | risk rating | - |
dc.subject | banking relationship | - |
dc.title | Information Asymmetry, Risk Rating, and Debt Maturity: Evidence from Small Business Data | - |
dc.type | SNU Journal | - |
dc.contributor.AlternativeAuthor | 한중호 | - |
dc.citation.journaltitle | Seoul Journal of Business | - |
dc.citation.endpage | 66 | - |
dc.citation.number | 2 | - |
dc.citation.pages | 47-66 | - |
dc.citation.startpage | 47 | - |
dc.citation.volume | 14 | - |
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