Stock liquidity and corporate debt maturity structure: Evidences from Indian firms

Altaf, Nufazil

doi:10.1002/mde.3342

Cited by 6 publications

(3 citation statements)

References 55 publications

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“…For some final robustness tests, we launched our regressions first without winsorizing the firm-specific variables, then we account for debt maturity (Ahangar, 2021 ) by making the dependent variable the ratio between long-term and short-term interest-bearing bank debt scaled to long-term and short-term interest-bearing bank debt plus equity, and finally by making the dependent variable the natural logarithm of the variable bank debt . Moreover, we control for the number of companies per province that could affect the demand for digital services.…”

Section: Resultsmentioning

confidence: 99%

Does the bank-firm human relationship still matter for SMEs? The game-changing role of digitalization

Fasano

Rocca

2023

Small Bus Econ

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Noteworthy contributions have highlighted that human contact is a considerable factor in bank-firm relationships. It allows the acquisition of soft information, which alleviates information asymmetries and increases the use of bank debt. The advent of digital technologies in the information collection process open new horizons and change the role of personal contacts in bank-firm interactions, as entrepreneurs visit bank branches less frequently. This study uses a large sample of Italian SMEs from 2011 to 2020 and finds that the rapid increase and use of digital instruments have reduced the positive influence of physical closeness between banks and SMEs on the indebtedness levels. Interestingly, our study has also found that the COVID-19 crisis did not amplify this moderating effect. Results support theories that human contact is an important factor in bank-firm relationships because it allows the acquisition of soft information, which alleviates information asymmetries and increases the use of bank debt. Our study suggests that close human ties are still extremely relevant and digitalization should be exploited to support the collection of the kind of qualitative soft information that is crucial in debt negotiations.

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Section: Resultsmentioning

confidence: 99%

Does the bank-firm human relationship still matter for SMEs? The game-changing role of digitalization

Fasano

Rocca

2023

Small Bus Econ

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“…As the current research is conducted in China, it faces the problem of the generalization of research conclusions (Ahangar, 2021; Cappa et al , 2020). China has certain characteristics in supporting and developing SME innovation.…”

Section: Discussionmentioning

confidence: 99%

CEO cognitive trust, governmental support and marketing innovation: empirical evidence from Chinese small, medium and micro enterprises

Ardito

Natalicchio

2021

JKM

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Purpose This study aims to verify the influence of chief executive officer (CEO) cognitive trust and governmental support on marketing innovation. Additionally, it evaluated the influence of CEO cognitive trust on the marketing innovation of small, medium and micro enterprises (SMMEs). Design/methodology/approach The authors empirically assessed the impact of CEO cognitive trust on SMME marketing innovation. Furthermore, the authors examined the mediating effect of governmental support on this relationship. The authors then studied a sample of 1,770 SMMEs in China by applying partial least squares structural equation modeling. Findings The authors found that CEO cognitive trust was negatively associated with marketing innovation. Moreover, governmental support has a competitive mediating effect on this relationship. Thus, while governmental support is urgently needed to enhance the marketing innovation of SMMEs, CEO cognitive trust negatively impacts this relationship. Research limitations/implications This study empirically establishes the importance of CEO cognitive trust and governmental support as antecedents in SMME marketing innovation. This contributes to the knowledge base of the management field, adding to important streams in the wider business literature, such as marketing studies, leadership management, strategic management and innovation. While the model is parsimonious, the relationships it highlights are robust and can be generalized to other contexts. Practical implications Managers must not only have high levels of trust and authority but must also embody these characteristics rationally. Simultaneously, managers must actively establish a trusting relationship with the government, thereby improving their company’s ability to integrate government policy information while also actively seeking governmental support. These measures are helpful in enhancing the marketing innovation capabilities of SMMEs. Social implications SMMEs occupy an important position in all countries’ economies and their vitality directly determines the strength of the economy. Formulating reasonable marketing strategies will help enhance market competitiveness and promote the rapid development of SMMEs. Originality/value The literature on marketing innovation has paid little attention to CEO cognitive trust, while CEOs’ cognitive characteristics are an increasingly relevant antecedent in SMME marketing innovation. This study analyzed CEO cognitive trust as a possible antecedent of marketing innovation activities in SMMEs, with this influence path being evaluated. This study extends the current knowledge in this field by considering the effects of CEO cognitive trust on marketing innovation.

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“…In increasing the number of the cases, the data collection may be extended to non-European implementations to take into consideration possible ERP cultural misfits [ 101 ]. In fact, the geographical context which the cases were developed in might affect the managerial conduct [ 102 , 103 ].…”

Section: Discussionmentioning

confidence: 99%

Why enterprise resource planning initiatives do succeed in the long run: A case-based causal network

et al. 2021

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Despite remarkable academic efforts, why Enterprise Resource Planning (ERP) post-implementation success occurs still remains elusive. A reason for this shortage may be the insufficient addressing of an ERP-specific interior boundary condition, i.e., the multi-stakeholder perspective, in explaining this phenomenon. This issue may entail a gap between how ERP success is supposed to occur and how ERP success may actually occur, leading to theoretical inconsistency when investigating its causal roots. Through a case-based, inductive approach, this manuscript presents an ERP success causal network that embeds the overlooked boundary condition and offers a theoretical explanation of why the most relevant observed causal relationships may occur. The results provide a deeper understanding of the ERP success causal mechanisms and informative managerial suggestions to steer ERP initiatives towards long-haul success.

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Stock liquidity and corporate debt maturity structure: Evidences from Indian firms

Cited by 6 publications

References 55 publications

Does the bank-firm human relationship still matter for SMEs? The game-changing role of digitalization

Does the bank-firm human relationship still matter for SMEs? The game-changing role of digitalization

CEO cognitive trust, governmental support and marketing innovation: empirical evidence from Chinese small, medium and micro enterprises

Why enterprise resource planning initiatives do succeed in the long run: A case-based causal network

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