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SAGE Open, 2021 Previous literature shows mixed evidence on the effect of discretionary accruals and auditing on the cost of debt. We hypothesize that, in the SMEs setting, auditing can act as a substitute for accruals quality, and thus audits may mitigate the effect of
Juan L. Gandía, David Huguet
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The effect of tax avoidance on cost of debt capital: Evidence from Korea1
South African Journal of Business Management, 2017 This study investigates the relation between tax avoidance and the cost of debt capital and analyzes the effect of the debt ratio and profitability on the relation between tax avoidance and the cost of debt.
H-J. Shin, Y-S. Woo
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China Journal of Accounting Research, 2018 In this paper, we investigate whether material asset reorganizations (MARs), a special form of merger and acquisition (M&A) transactions, can affect the acquirers’ cost of debt financing.
Qingquan Tang, Hongwen Han
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PRIVATE COST OF CAPITAL AND INCREMENTAL BUSINESS VALUE OF MID-MARKET FIRMS
The International Journal of Banking and Finance, 2021 This study examined the implications of private cost of capital on the incremental business value (IBV) of middle market firms in Nigeria. Specifically, three costs were identified as follows: private cost of debt (PCD), private cost of equity (PCE ...
Daibi Wellington Dagogo, Saheed K. Ajadi
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Agency Cost of Debt and Inside Debt: The Role of CEO Overconfidence [PDF]
British Journal of Management, 2022 AbstractThis study extends our understanding of CEO inside debt compensation under an agency problem perspective by considering the impact of a behavioural trait, namely CEO overconfidence. Using a sample of US firms in Standard & Poor's ExecuComp for the period 2006–2019, we find that overconfident CEOs exhibit greater inside debt incentives (i.e.
Galariotis, Emilios +3 more
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Jurnal Ilmiah Akuntansi dan Bisnis, 2021 This study empirically examines the association between corporate governance practices and the cost of debt in Pakistan and India. By law, both Pakistani and Indian firms are required to publish their annual reports with recommended Corporate Governance ...
Muhammad Umair Nazir
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Cost of sovereign debt and foreign bias in bond allocations [PDF]
, 2017 Finance theory suggests that markets where foreign bond portfolio investors overweight their portfolio relative to the prescribed theoretical benchmark should experience higher international risk sharing. Correspondingly, the cost of debt in such markets
Bhatta, Bibek +2 more
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Pengaruh Corporate Hedging Terhadap Cost Of Debt
Jurnal Manajemen Teori dan Terapan, 2017 The ongoing globalization era is marked by free trade, will bring uncertainty to the Indonesian economy. These uncertainties include fluctuations of exchange rate, interest rates, and commodity prices.
Vicki Lineous Suryagari, Fitri Ismiyanti
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Firm life cycle and cost of debt [PDF]
Journal of Banking & Finance, 2020 This paper examines the relation between the corporate life cycle and lending spreads. Using a sample of 20,307 firm-loan observations spanning 5,076 publicly traded U.S. firms, we find that mature firms pay lower lending spreads. This reduction is incremental to the variation explained by financial controls that may have previously been thought to ...
Abu Amin +4 more
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Trust and the cost of debt financing [PDF]
Journal of International Financial Markets, Institutions and Money, 2019 This paper examines the relation between the level of trust in a country and the cost of debt. Using data on firms located in 22 countries over a 20-year period, we quantify the country trust level and find strong evidence that firms in countries with a higher level of societal trust have lower bond yield spreads.
Meng, Yijun, Yin, Chao
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