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This study investigates the impact that managerial ownership has on loan availability and credit terms. We find that managerial ownership is common in a sample of small and medium-sized Finnish firms. Our results suggest that an increase in managerial ownership decreases loan availability. The...
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The guaranteed lending progams of the Small Business Administration (SBA) are large and growing rapidly. The SBA's fiscal year 2009 Performance Budget call for 28 billion (Dollar) in guaranteed loans for small businesses - a new record for the agency. Some critics of SBA programs suggest they do...
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