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Impact of capital structure on micro firm productivity: Empirical evidence from Swedish firm-level data
Mid Sweden University, Faculty of Human Sciences, Department of Social Sciences.
2012 (English)In: International Journal of Entrepreneurship and Small Business, ISSN 1476-1297, E-ISSN 1741-8054, Vol. 16, no 2, p. 223-237Article in journal (Refereed) Published
Abstract [en]

The paper examines the impact of key productivity determinants at the firm level using data on 24,257 Swedish micro firms, including approximately 194,000 observations for the 2007-2008 period. The regression model includes a firm-level measure of total factor productivity as the dependent variable and capital structure and other relevant control variables as independent variables. Analysis reveals that firm-level variables, such as lagged productivity, size, age, profitability, short-term debt ratio, and industry affiliation, significantly affect firm productivity. Agency cost theory seems applicable in partly explaining the relationship between capital structure and productivity. Copyright © 2012 Inderscience Enterprises Ltd.

Place, publisher, year, edition, pages
2012. Vol. 16, no 2, p. 223-237
Keywords [en]
Agency cost theory, Capital structure, Firm performance, Sweden, TFP, Total factor productivity
National Category
Business Administration
Identifiers
URN: urn:nbn:se:miun:diva-17275DOI: 10.1504/IJESB.2012.047110Scopus ID: 2-s2.0-84861870810OAI: oai:DiVA.org:miun-17275DiVA, id: diva2:563014
Available from: 2012-10-27 Created: 2012-10-27 Last updated: 2017-10-02Bibliographically approved

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Yazdanfar, Darush

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