Universität zu Köln

Deno, Snjezana, Loy, Thomas and Homburg, Carsten (2020). What Happens If Private Accounting Information Becomes Public? Small Firms' Access to Bank Debt. Entrep. Theory Pract., 44 (6). S. 1091 - 1112. THOUSAND OAKS: SAGE PUBLICATIONS INC. ISSN 1540-6520

Full text not available from this repository.

Abstract

We examine the effect of private accounting information becoming public on small firms' access to bank debt. Both proprietary cost of disclosure and relationship banking have contributed to German private firms' traditional non-disclosure of financial statements. We employ a regulatory change, which increased enforcement and established severe fines for firms that do not publicly disclose financial statements, as a quasi-natural experiment. We find that small firms' access to bank debt has significantly increased after the disclosure shock. With our study based on a novel dataset in a non-voluntary private firm setting, we contribute to the discussion on private and public information in debt contracting.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Deno, Snjezana UNSPECIFIED UNSPECIFIED UNSPECIFIED Loy, Thomas UNSPECIFIED UNSPECIFIED UNSPECIFIED Homburg, Carsten UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-313900
DOI:	10.1177/1042258719877129
Journal or Publication Title:	Entrep. Theory Pract.
Volume:	44
Number:	6
Page Range:	S. 1091 - 1112
Date:	2020
Publisher:	SAGE PUBLICATIONS INC
Place of Publication:	THOUSAND OAKS
ISSN:	1540-6520
Language:	English
Faculty:	Unspecified
Divisions:	Unspecified
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language FINANCIAL STATEMENT VERIFICATION; LENDING RELATIONSHIPS; EMPIRICAL-EVIDENCE; CAPITAL-MARKETS; CREDIT; CONSUMPTION; DISCLOSURE; ADOPTION; QUALITY; GERMANY Multiple languages Business Multiple languages
URI:	http://kups.ub.uni-koeln.de/id/eprint/31390