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Debt Costs Determinants in Small Enterprise
Grzegorz Michalski Wroclaw University of Economics Uwarunkowania rynkowe rozwoju mikro i małych przedsiębiorstw, A. Bielawska, ed., pp. 465-471, 2006 Abstract: The cost of debt for small enterprises is higher than for other enterprises. The article explains why the cost of debt for small business is higher than for other firms. It is a result of specific characteristics of small enterprises. First of all, the small enterprises are more risky than other firms. Next, in small enterprises, agency costs and information asymetry are different than in other firms. All of them cause, the growing of the cost of debt for small enterprises.
Note: Downloadable document is in Polish. Keywords: Value of liquidity, kost of debt, Value based management, Demand for Liquidity, agency costs, Risk, Uncertainty JEL Classifications: G39, G32, G11, M11, D81, O16, P33, P34 Accepted Paper SeriesDate posted: August 16, 2007 ; Last revised: August 16, 2007Suggested CitationContact Information
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