Online citations, reference lists, and bibliographies.
Please confirm you are human
(Sign Up for free to never see this)
← Back to Search

Asset Specificity And A Firm's Borrowing Ability: An Empirical Analysis Of Manufacturing Firms

Dijana Mocnik
Published 2001 · Economics

Save to my Library
Download PDF
Analyze on Scholarcy
Share
Abstract This paper investigates the importance of asset specificity in explaining differences in firms’ ability to borrow money. With empirical research, we investigated whether there is a relationship between asset specificity and the debt ratio of a Slovene manufacturing firm. The basic idea of the research was to link the sources of finance that define property rights and the attributes of the assets that are the objects of finance. A firm’s capital structure can be viewed as a description of the allocation of risk and control among investors.
This paper references
10.1093/0198288816.001.0001
Firms, Contracts, and Financial Structure
O. Hart (1985)
10.1086/466922
Vertical Integration, Appropriable Rents, and the Competitive Contracting Process
B. Klein (1978)
10.1007/978-3-540-69305-5_4
Transaction Cost Economics
Steven Tadelis (1995)
10.2307/2234413
The Nature of the Firm: Origins, Evolution, and Development
O. Williamson (1992)
10.2307/2393356
Comparative Economic Organization: The Analysis of Discrete Structural Alternatives
O. Williamson (1994)
10.1016/S0167-2681(97)00022-X
The governance problem, asset specificity and corporate financing decisions
G. Choate (1997)
10.1016/S1573-4471(88)01019-8
Credit markets and interlinked transactions
Clive Bell (1988)
10.1080/00213624.1987.11504638
The Economic Institutions of Capitalism
W. Dugger (1987)
10.2307/2329406
Firms, Contracts and Financial Structures.
A. Thakor (1996)
10.2307/2490400
The Importance Of A Market-Value Measurement Of Debt In Assessing Leverage
R. G. Bowman (1980)
10.1111/J.1540-6261.1988.TB04592.X
Corporate Finance and Corporate Governance
O. Williamson (1988)
10.2307/2392191
Markets and Hierarchies: Analysis and Antitrust Implications.
W. Ouchi (1977)
10.1002/SMJ.4250120302
How much does industry matter
R. Rumelt (1991)
10.4324/9780203312414
Transaction cost economics and beyond
M. Dietrich (1994)
10.2307/2555461
Diversification, Ricardian rents, and Tobin's q
C. Montgomery (1988)
10.1111/J.1540-6261.1988.TB02585.X
The Determinants of Capital Structure Choice
S. Titman (1988)
10.1007/978-94-009-1800-9_8
Inside the Black Box: The Variety of Hierarchical Forms
C. Ménard (1996)
10.1002/SMJ.4250140103
Asset specificity, firm heterogeneity and capital structure
S. Balakrishnan (1993)
10.1093/OXFORDJOURNALS.JLEO.A036949
The Logic of Economic Organization
O. Williamson (1988)
10.1111/J.1540-6261.1984.TB03680.X
ON THE EXISTENCE OF AN OPTIMAL CAPITAL STRUCTURE: THEORY AND EVIDENCE
Michael Bradley (1984)
10.2307/3003464
Uncertain Imitability: An Analysis of Interfirm Differences in Efficiency under Competition
S. Lippman (1982)
10.5465/AMR.1983.4284379
Modern Financial Theory, Corporate Strategy and Public Policy: Three Conundrums
R. Bettis (1983)
10.1023/A:1009977627870
Governance Structures, Coordination Mechanisms and Cognitive Models
A. Grandori (1997)
10.1016/S0167-2681(98)00055-9
Exploiting innovation options: an empirical analysis of R& D-intensive firms
Paul Y. Mang (1998)
10.1287/MNSC.32.10.1231
Strategic Factor Markets: Expectations, Luck, and Business Strategy
J. Barney (1986)
10.1016/S0929-1199(97)00011-4
Internal financing of multinational subsidiaries: Debt vs. equity 1 This research started when the f
B. Chowdhry (1998)
10.1002/SMJ.4250090608
CORPORATE STRATEGY AND CAPITAL STRUCTURE
Sidney L. Barton (1988)



This paper is referenced by
Finance and innovation : essays on credit, investment and regulation
E. Ughetto (2008)
10.1109/ICEE.2010.904
A Study on the Reciprocal Relationship between Strategic Resource, Diversification Strategy and Capital Structure
Zhang Xizhen (2010)
10.2139/ssrn.1005333
Does Internal Finance Matter for R&D? New Evidence from a Panel of Italian Firms
E. Ughetto (2007)
10.1002/9781118266250.CH12
Economic, Regulatory, and Industry Effects on Capital Structure
P. Sanyal (2011)
10.1093/CJE/BEN015
Does Internal Finance Matter for R&D? New Evidence from a Panel of Italian Firms
E. Ughetto (2008)
10.1016/J.GFJ.2018.05.007
A firm-level analysis of the upstream-downstream dichotomy in the oil-stock nexus
R. Swaray (2018)
10.1111/j.1467-6419.2012.00738.x
Assessing the Effect of Public Subsidies on Firm R&D Investment: A Survey
José �?ngel Zúñiga�?Vicente (2014)
10.1145/3352740.3352741
Research on Risk Evaluation of Listed Tourism Companies in China
X. Hong-qing (2019)
10.2139/ssrn.3160343
Political Connections, Local Corruption, and Firm's Bank Pool Structures: Empirical Evidence from Vietnam
Vu Hong Van (2018)
Comparative Analysis of Organizational Forms in the Software Industry and Legal Services
A. Duman (2009)
Corporate strategy and capital structure: An empirical study of listed manufacturing firms in Saudi Arabia
A. Attar (2014)
Determinants of Access to Credit in Microenterprises of Turkey
Alper Duman (2009)
10.3390/su12229559
How Small- and Medium-Sized Enterprise Innovation Affects Credit Accessibility: The Case of Vietnam
P. A. Nguyen (2020)
10.1093/JLEO/EWM059
Corporate Boards of Directors: In Principle and in Practice
O. Williamson (2007)
10.18381/EQ.V9I1.139
Entorno competitivo, endeudamiento y especificidad de los activos: evidencia en el caso de las empresas españolas.
Manuel Sánchez Valadez (2012)
10.1002/IJFE.2279
Collateralized borrowing around the world: Insights from the World Bank Enterprise Surveys
Yuting Fan (2020)
10.2139/ssrn.905536
R&D Investment, Credit Rationing and Sample Selection
Claudio A. Piga (2005)
Asset Specificity, Information Asymmetry and New Firm Financing *
P. Sanyal (2010)
Does Innovation Affect Credit Access? New Empirical Evidence from Italian Small Business Lending
A. Bellucci (2014)
10.5296/ajfa.v11i2.14920
Financial Mismatch, Assets Specificity and Capital Structure
Yanwu Li (2019)
Outsourcing innovation and the role of bank debt for SMEs
S. Giannangeli (2012)
10.18690/978-961-286-144-5
Building an Entrepreneurial Society : 25 years of entrepreneurship at FEB UM
Miroslav Rebernik (2018)
CORPORATE GOVERNANCE AND TRANSACTION COST ECONOMICS: A STUDY OF THE EQUITY
Governance Structure (2017)
10.2139/ssrn.924192
Transaction Cost Economics: An Assessment of Empirical Research in the Social Sciences
B. Richman (2006)
R&D investment, Credit Rationing and Sample
G. Atzeni (2005)
10.1016/J.RIE.2004.02.001
Strategic debt in vertical relationships: theory and evidence
G. Fraja (2004)
Does innovation affect credit access ? New empirical evidence from Italian small business lending
Iaw Diskussionspapiere (2014)
10.2139/ssrn.2444302
Corporate Governance and Transaction Cost Economics: A Study of the Equity Governance Structure
J. Saravia (2014)
The Impact of an Innovative Human Resource Function on Firm Performance: the Moderating Role of Financing Strategy
N. Knight-Turvey (2004)
10.1080/13571516.2019.1664834
Public Funding and Innovation Strategies. Evidence from Italian SMEs
L. Barbieri (2020)
10.1111/j.0307-3378.2007.00255.x
R&D Investment, Credit Rationing and Sample Selection
C. Piga (2007)
Semantic Scholar Logo Some data provided by SemanticScholar