RT Journal Article
T1 Debt Maturity and SMEs: Do Auditor's Quality and Ownership Structure Matter?
A1 Feito-Ruiz, Isabel
A1 Cardone Riportella, Clara
A1 Ughetto, Elisa
K1 Audit quality
K1 Ownership structure
K1 Debt maturity structure
K1 Alternative investment market (aim)
AB This study analyzes the two corporate governance mechanismsthat affect the debt maturity structure of small and mediumsizedenterprises (SMEs) listed on the Alternative InvestmentMarket (AIM): Big 4 auditors and the firms’ ownership structure.Analyzing 227 listed SMEs (1998–2016) and applying both crosssectionaland panel data estimations, we find that: (a) there isa positive and significant relationship between Big 4 auditorsand debt maturity; (b) firms with more ownership concentrationhave a higher fraction of long-term debt in their capital structure;(c) although family firms are, on average, associated withshorter debt maturities, when they are audited by a Big 4, theirdebt maturity lengthens.
PB Routledge Taylor & Francis Group
YR 2021
FD 2021-02-02
LK http://hdl.handle.net/10433/16791
UL http://hdl.handle.net/10433/16791
LA en
NO Journal of Small Business Management, 61:4, 1736-1772
NO Universidad Pablo de Olavide
DS RIO
RD May 10, 2026