Beginning with classical theories on finance, such as the capital structure theory, the trade-off theory of capital structure, and the pecking order theory, the literature shows a negative correlation between tax avoidance and institutional ownership with respect to the business cost of debt....

Social capital, embedded in the networking relationship, is critical for firm performance. SMEs, especially in emerging economies, should effectively use their limited resource and network relationships to deal with increased uncertainties in the business environment. Accordingly, this paper...