Debt Maturity and the Use of Short-Term Debt

Chen, Sophia; Ganum, Paola; Liu, Lucy Qian; Martínez, Leonardo; Peria, Maria Martinez

doi:10.5089/9781484380536.087

Cited by 7 publications

(5 citation statements)

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“…Chen et al ( 2018), Zeitun et al (2017) y Lopes (2017) aseguran que el otorgamiento de financiamiento por medio de deuda a largo plazo (en forma bonos o préstamos bancarios) depende de las características de la empresa. Uno de los aspectos a tomar en cuenta son la posesión de activos tangibles (o fijos) ya que sirven como garantía (Chen et al, 2018;Lopes, 2017). Otro factor decisivo es la perspectiva de crecimiento de la empresa (Zeitun et al, 2017).…”

Section: Crisis Hipotecaria Financiera Y Efecto En El Apalancamientounclassified

Impacto de la crisis hipotecaria financiera del 2008 en la estructura de capital en las empresas públicas mexicanas

Spinelli

Demmler

2021

Vinculatégica

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El presente estudio tiene la finalidad de identificar el impacto de la crisis hipotecaria financiera del 2008 en la estructura de capital en las empresas públicas mexicanas listadas en el Índice de Precios y Cotizaciones (IPC) de la Bolsa Mexicana de Valores (BMV). Se realizó el análisis tanto para el total de las empresas como para grupos de empresas clasificadas de acuerdo con su retorno sobre los activos (ROA) y al valor de sus activos. Se encontró que el apalancamiento general de todos los grupos incrementó de 2007 a 2009, siendo que el primer año el apalancamiento por medio de pasivos circulantes incrementó una mayor proporción que el financiamiento a largo plazo; en el segundo año, el efecto a largo plazo se incrementó y el de corto plazo se redujo. Se sugieren abrir líneas de investigación para identificar las causas por las cuales el apalancamiento de las empresas se homogenizó a lo largo de los años, y si los resultados son coincidentes con el apalancamiento de la actual crisis económica derivada por la pandemia del Sars-Cov-2.

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Section: Crisis Hipotecaria Financiera Y Efecto En El Apalancamientounclassified

Impacto de la crisis hipotecaria financiera del 2008 en la estructura de capital en las empresas públicas mexicanas

Spinelli

Demmler

2021

Vinculatégica

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“…The term "maturity date" also refers to the deadline for fully repaying an installment loan. On the other hand, the maturity date refers to the day a borrower must completely repay an installment loan (Chen et al, 2018).…”

Section: Introductionmentioning

confidence: 99%

Effect of gender participation on determining the maturity of crossed-due loans: Evidence from microfinance companies of Nepal

Dahal¹,

Bhattarai

Budhathoki

2023

Banks and Bank Systems

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The impact of gender participation on the maturity of crossed-due loans is observed in this study. Furthermore, the associations between maturity of crossed-due loans, their number, and loan issued on physical collateral and collective bail are also monitored using the unbalanced panel data of thirty microfinance companies. The study investigates the short- and long-term link between response and predictor variables. It is founded on an exploratory and descriptive research design. The Hausman test, fixed effect or LSDV model, Pedroni and Kao co-integration test are used to observe the relation and impact. The maturity crossed due loan number, total loan amount, loan issued against physical collateral, and loan allocated on collective bail are jointly significant to determine the maturity of crossed due loan amount of microfinance companies of Nepal. It is found that women are more conscientious in repaying loans on time compared to male borrowers. Per rupee 0.382 rupees, a maturity crossed due loan is found in microfinance companies where only women can borrow, but per rupee 0.404 rupees, a time crossed due loan is found where men and women can borrow. Policymakers of banks are not necessarily hesitant to provide loans to female borrowers.

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“…Kwenda and Holden (2014) observe that short-term debt serves as an important financing option especially in times of financial crises as a source of emergency funding. Although short-term debt increases refinancing risks, it is known to reduce the cost of debt associated with long-term debt (Chen, Ganum, Liu, Martinez & Peria, 2019). This notwithstanding, the effect of short-term debt on financial performance of Small and Medium scale Enterprises has received limited attention from empirical researchers (Plesko, 2000).…”

Section: Introductionmentioning

confidence: 99%

Short-Term Debt and Financial Performance of Small and Medium Scale Enterprises in Buganda Region, Uganda

Mugisha¹,

Omagwa²,

Kilika³

2020

IJFBS

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Short-term debt is regarded as an important source of financing for Small and Medium-sized enterprises (SMEs). This is because it can be easily accessed and useful during times of emergent working capital shortage. However, short-term debt is the least researched among the components of capital structure, which explains why its contribution to the financial performance of small and medium-sized businesses still lacks empirical validation especially in the Ugandan context. This paper sought to determine the effect of short-term debt on financial performance of Small and Medium Enterprises in Uganda. The study adopted a descriptive cross-sectional research design to collect and analyse the data. Stratified random sampling technique was used to select SMEs while purposive sampling technique was used to select one key respondent from each of the sampled 453 SMEs in Uganda. Primary data was collected using survey questionnaire. Data was analysed using descriptive statistics and simple linear regression analysis. The findings indicted that short-term debt had a negative and significant effect on financial performance of SMEs as measured by return on assets. The study provides empirical evidence to support the propositions in the extant literature that short-term debt significantly hampers financial performance of SMEs. The study recommends that SMEs should adopt low cost operation procedures to improve profitability. This would lead to accumulated profits that can be used for investment purposes as a means of driving growth among the SMEs without resorting to borrowing. This paper suggests that further research should be conducted to establish the justification for the negative and significant effect of short-term debt on financial performance using qualitative approaches.

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Debt Maturity and the Use of Short-Term Debt

Cited by 7 publications

References 0 publications

Impacto de la crisis hipotecaria financiera del 2008 en la estructura de capital en las empresas públicas mexicanas

Impacto de la crisis hipotecaria financiera del 2008 en la estructura de capital en las empresas públicas mexicanas

Effect of gender participation on determining the maturity of crossed-due loans: Evidence from microfinance companies of Nepal

Short-Term Debt and Financial Performance of Small and Medium Scale Enterprises in Buganda Region, Uganda

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