Firm characteristics, debt maturity structure, and innovation performance of small firms

Slavec Gomezel, Alenka (author)

Based on a large sample of 497 small Slovenian manufactory firms and applying structural equation modeling, we investigate the relationship between six different firm characteristics (firm legal status, firm age, assets tangibility, cash flow, long-term financing of long-term assets and inventories ratio, and the quick ratio) and debt maturity structure of small firms in terms of short-term debt and long-term debt. In addition, we uncover the relationship between debt maturity structure and innovation performance of small firms. The results of our study point to the importance of external financial sources for firm innovation performance and to the relevance of specific firm characteristics to explain debt maturity structure of small firms.

• Language: English
• Keywords: enterprises, innovatons, financing, firm characteristics, debt maturity structure, small firms, innovation, short‐term debt, long‐term debt
• Work type: Article
• Typology: 1.01 - Original Scientific Article
• Organization: EF - School of Economics and Business
• Publication status: Published
• Publication version: Version of Record
• Year: 2022
• Number of pages: Str. 3-15
• Numbering: Vol. 11, iss. 1
• PID: 20.500.12556/RUL-137459
• UDC: 005
• ISSN on article: 2232-5867
• DOI: 10.17708/DRMJ.2022.v11n01a01
• COBISS.SI-ID: 109951235
• Publication date in RUL: 17.06.2022

Record is a part of a journal

• Title: Dynamic relationships management journal
• Publisher: Slovenian academy of management
• ISSN: 2232-5867
• COBISS.SI-ID: 262077952

Secondary language

• Language: Slovenian
• Keywords: podjetje, inovacije, financiranje