Default Risk Analysis In Micro, Small And Medium Enterprises: Does Debt Overhang Theory Occur?
This paper intends to analyse the default risk in micro, small and medium enterprises (MSMEs) and its relation to new debt opportunities, debt overhang theory and growth intention. The results confirm that cash flow, capacity and leverage are the major determinants of firms’ default, while gross...
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| Format: | Article |
| Language: | English |
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Asian Academy of Management (AAM)
2014
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| Online Access: | http://eprints.usm.my/39944/ http://eprints.usm.my/39944/1/AAMJAF_10-1-5-G1_%2895-131%29.pdf |