While academic research concerning capital structure of large corporations has been abundant in the finance literature, studies of small firms have been somewhat less common, and investigation of capital structure at origin (start-up) has been virtually nil. In this paper we present empirical...

This research explored the nature of suppliers who participate in informal markets. The study was based on a national probability sample of 1,600 households. Those that had engaged in both barterer and vendor behaviors were found to have the most distinct profile. The barterer/vendor group...

This study presents results of an empirical investigation of debt collateralization using samples of small firms. We examine the fraction of debt that is collateralized and find substantial support for firm size, firm age, and collateral quality as determinants of collateralization. Our results...

Atmospheric fluidized-bed combustion (AFBC) is the prevalent technology in boiler design for new power plants. Using plant-level cost data from a sample of commercial AFBC powerplants, we examine the effects of fuel type (scrap coal or standard-grade coal), plant size, and plant completion date...

Small firms differ from large firms in taxability, ownership, flexibility, industry, economies of scale, financial market access, and level of information asymmetry. We investigate the determinants of small firms’ choice of the maturity structure of debt. We find that small firms’ maturity...

Trade credit limits trigger action in the management of accounts receivable. In practice, these limits are usually set by unaided managerial judgment. This paper develops two methodologies based on wealth maximization: information credit limits and risk credit limits. Information limits signal...