miun.sePublications
Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Financial crisis and SME capital structure: Swedish empirical evidence
Mid Sweden University, Faculty of Human Sciences, Department of Economics, Geography, Law and Tourism.
Mid Sweden University, Faculty of Human Sciences, Department of Economics, Geography, Law and Tourism.ORCID iD: 0000-0001-5731-0489
Univ Gävle, Gävle.
2019 (English)In: Journal of economic studies, ISSN 0144-3585, E-ISSN 1758-7387, Vol. 46, no 4, p. 925-941Article in journal (Refereed) Published
Abstract [en]

Purpose The purpose of this paper is to empirically examine capital structure determinants of small- and medium-sized enterprises (SMEs) during and after the global financial crisis. Design/methodology/approach Statistical methods, including ordinary least squares and the generalised method of moments, were used to analyse a sample of over 40,800 Swedish SMEs operating in four industries during the 2008-2015 period. Findings The results indicate that the independent variables - i.e. financial crisis, profitability, size, tangibility and industry affiliation - to various degrees explain changes in short-term debt (STD) and long-term debt (LTD) ratios. In particular, the empirical findings indicate that the sampled SMEs tended to rely more on STD and LTD during (2008-2009) than after (2010-2015) the financial crisis. Originality/value This study is one of few examining determinants of short- and long-term SME debt during and after the global financial crisis, using data from a large-scale cross-sectional database.

Place, publisher, year, edition, pages
2019. Vol. 46, no 4, p. 925-941
Keywords [en]
Capital structure, Financial crisis, Small- and medium-sized enterprises, Cross-sectional sample
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:miun:diva-37662DOI: 10.1108/JES-04-2018-0147ISI: 000487074500008Scopus ID: 2-s2.0-85074519305OAI: oai:DiVA.org:miun-37662DiVA, id: diva2:1369569
Available from: 2019-11-12 Created: 2019-11-12 Last updated: 2019-11-18Bibliographically approved

Open Access in DiVA

No full text in DiVA

Other links

Publisher's full textScopus

Authority records BETA

Yazdanfar, DarushÖhman, Peter

Search in DiVA

By author/editor
Yazdanfar, DarushÖhman, Peter
By organisation
Department of Economics, Geography, Law and Tourism
In the same journal
Journal of economic studies
Economics and Business

Search outside of DiVA

GoogleGoogle Scholar

doi
urn-nbn

Altmetric score

doi
urn-nbn
Total: 29 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf