RT Journal Article
T1 Corporate Governance Attributes and Listed SMEs' Debt Maturity Structure: Evidence from Different Economic Environments
A1 Briozzo, Anahí
A1 Cardone Riportella, Clara
A1 García-Olalla, Miryam
K1 Corporate governance
K1 SMEs
K1 Alternative capital markets
K1 Debt maturity structure
AB This article develops a cross-country analysis of the similarities and differences in thedebt maturity structure (DMS) of listed SMEs from the point of view of corporategovernance attributes in two different economic environments: an OECD country(Spain) and a non-OECD country (Argentina). Using data from 25 listed SMEs in theArgentinian SME segment (from 2012 to 2015) and 31 listed SMEs in the SpanishMercado Alternativo Bursátil (2014), we observe for the former that firms with a higherownership concentration and with a BIGN auditor have lower short-term liabilities (STL)ratios. Participation of women on the board has a negative relation with the STL ratioonly for Spain. The participation of corporations in ownership has a negative relationwith the STL ratio for both countries. These results will help SME managersunderstand the effects of the application of good governance policies. The study alsogives regulators a guideline to develop standards to assist in efficient borrowing interms of seeking funding in alternative capital markets
PB Emerald Publishing Limited
SN 1472-0701
YR 2019
FD 2019
LK http://hdl.handle.net/10433/16806
UL http://hdl.handle.net/10433/16806
LA en
NO International Entrepreneurship & Management Journal,19 (4) 735-750
NO Universidad Pablo de Olavide
DS RIO
RD May 23, 2026