| Autor: |
Bencheikh, Fayrouz, Taktak, Neila Boulila |
| Zdroj: |
International Journal of Management and Enterprise Development; 2019, Vol. 18 Issue: 1-2 p107-118, 12p |
| Abstrakt: |
The purpose of the paper is to study the effect of political connections on collateralisation and debt access. The study is carried out on a sample of Tunisian firms on the period 2007-2012. In the first step, we have taken into consideration an aggregate measure of collateral which is fixed assets. Results show that only long-term debt can be covered by fixed assets owned by connected firms. Then, in a second step, we have been studying the collateral liquidity through three components: lands, buildings and machineries and equipment. The major finding is that politically connected firms were able to gain access to debt without sufficient liquid collaterals. |
| Databáze: |
Supplemental Index |
| Externí odkaz: |
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