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La calidad de los ajustes por devengo no afecta al coste de la deuda de las PYMES españolas

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Author Info

  • Belén Gill de Albornoz Noguer

    (Universitat Jaume I)

  • Manuel Illueca Muñoz

    (Universitat Jaume I e Instituto Valenciano de Investigaciones Económicas (IVIE))

Abstract

Este trabajo examina la relación entre el coste de la deuda y la calidad de los ajustes por devengo en una amplia muestra de empresas españolas mayoritariamente no cotizadas. La relación inversa entre ambas variables obtenida por Francis et al. (2005) en un contexto de grandes compañías cotizadas no se aprecia al restringir la muestra a pequeñas y medianas empresas. Ya sea por una cuestión de confianza o debido a los costes fijos que conlleva el análisis de las cuentas anuales, las entidades financieras aplican habitualmente a las PYMES tecnologías de crédito en las que la información contenida en los accruals del prestatario queda relegada a un segundo plano.

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Bibliographic Info

Article provided by Fundación SEPI in its journal Investigaciones Económicas.

Volume (Year): 31 (2007)
Issue (Month): 1 (January)
Pages: 79-117

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Handle: RePEc:iec:inveco:v:31:y:2007:i:1:p:79-117

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Related research

Keywords: coste de la deuda; calidad de los ajustes por devengo; banca relacional; PYMES.;

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References

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Cited by:
  1. Laura Arnedo & Fermín Lizarraga & Santiago Sánchez, 2012. "The role of accounting accruals for the prediction of future cash flows: evidence from Spain," SERIEs, Spanish Economic Association, vol. 3(4), pages 499-520, December.
  2. Ferrer García, Cristina & Laínez Gadea, José Antonio, 2013. "Detectando diferencias en la medición de la calidad del resultado: evidencia empírica para empresas españolas || Detecting Differences on the Earnings Quality Measurement: Empirical Evidence on Spa," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 16(1), pages 5-28, December.

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