Calidad de la información contable y el acceso al endeudamiento en Bolívar (Accounting Quality and Debt Access in Bolivar)
27 Pages Posted: 27 Mar 2019
Date Written: December 19, 2017
Abstract
Spanish Abstract: El objetivo de este trabajo es estudiar la relación entre la calidad de la información contable y el acceso al endeudamiento en Bolívar, usando una muestra representativa de empresas no listadas en bolsa. Los resultados del estudio muestran que firmas con mayor calidad contable tienen en promedio mayor endeudamiento, pero esta mayor calidad no se ve reflejada en menores tasas de interés, lo que sugiere problemas de ineficiencia y de selección adversa en el mercado privado de deuda.
English Abstract: In this paper we study the relationship between accounting quality and debt using a sample of non-listed companies in Bolivar, Colombia. We predict that companies with higher accounting quality has in average major access to debt, but this quality doesn't result in better interest rates compared with firms with lower accounting quality, suggesting an adverse selection problem in the private debt market.
Note: Downloadable document is in Spanish.
Keywords: Accounting Quality, Adverse Selection, Colombia
JEL Classification: M41, M21, G30
Suggested Citation: Suggested Citation
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