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- W3214657945 endingPage "101570" @default.
- W3214657945 startingPage "101570" @default.
- W3214657945 abstract "We investigate the impact of family firms on the cost of borrowing in East Asia. We find consistent evidence that family firms pay significantly higher loan spreads than nonfamily firms. This effect is stronger in environments with weaker investor protection. Furthermore, covenants help reduce the cost of debt while collateral is embedded in relatively riskier borrowers. We also find that small, highly leveraged borrowers pay higher loan spreads, while they are lower for firms with more tangible assets and lower probability of default risk. Our results survive several robustness checks related to family firm classification and endogeneity issues." @default.
- W3214657945 created "2021-11-22" @default.
- W3214657945 creator A5056133141 @default.
- W3214657945 creator A5066352511 @default.
- W3214657945 date "2022-04-01" @default.
- W3214657945 modified "2023-09-26" @default.
- W3214657945 title "Family firms and the cost of borrowing: empirical evidence from East Asia" @default.
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