Determinants of access to external finance: Evidence from selected publicly listed companies in the industrial sector in the Philippines for the period 1997-2006

By gaining access to external finance, firms can realize their full growth potential. To date, the growing literature on the subject has been a source of vital information. However, most of these research studies involve first world countries and to the best of the researchers' knowledge, there...

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Main Authors: Lu, Krizza Mienna D., Ramoso, Katrina Camille I., Sotingco, Joanna Marie C.
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Language:English
Published: Animo Repository 2010
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Online Access:https://animorepository.dlsu.edu.ph/etd_bachelors/6952
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Institution: De La Salle University
Language: English
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spelling oai:animorepository.dlsu.edu.ph:etd_bachelors-75962021-07-28T03:51:38Z Determinants of access to external finance: Evidence from selected publicly listed companies in the industrial sector in the Philippines for the period 1997-2006 Lu, Krizza Mienna D. Ramoso, Katrina Camille I. Sotingco, Joanna Marie C. By gaining access to external finance, firms can realize their full growth potential. To date, the growing literature on the subject has been a source of vital information. However, most of these research studies involve first world countries and to the best of the researchers' knowledge, there are hardly any that solely focused on the Philippines. In this light, the researchers examine the macroeconomic and microeconomic factors that influence access to external finance. The researchers use dynamic panel data estimation techniques to estimate the models over a sample of firms in the industrial sector in the Philippines during the period from 1997 to 2006. The researchers find that the firms in the industrial sector in the Philippines are quite equally reliant on short-term debt financing and long-term debt financing. In fact, approximately 52% represents short-term debts - 34% of which belongs to short-term non-banks debts. In the case of short-term bank debts, the researchers find that this type of financing is sensitive to firm age, firm size, and its 1-year lagged value. Alternatively in the case of short-term non-bank financing, the results indicate that this type of financing is sensitive to firm-specific characteristics, except for firm profitability. In contrast, the researchers find that bank debts are generally affected by firm liquidity, profitability, and size. 2010-01-01T08:00:00Z text https://animorepository.dlsu.edu.ph/etd_bachelors/6952 Bachelor's Theses English Animo Repository Debts, External--Philippines Finance, Public-- Philippines Finance and Financial Management
institution De La Salle University
building De La Salle University Library
continent Asia
country Philippines
Philippines
content_provider De La Salle University Library
collection DLSU Institutional Repository
language English
topic Debts, External--Philippines
Finance, Public-- Philippines
Finance and Financial Management
spellingShingle Debts, External--Philippines
Finance, Public-- Philippines
Finance and Financial Management
Lu, Krizza Mienna D.
Ramoso, Katrina Camille I.
Sotingco, Joanna Marie C.
Determinants of access to external finance: Evidence from selected publicly listed companies in the industrial sector in the Philippines for the period 1997-2006
description By gaining access to external finance, firms can realize their full growth potential. To date, the growing literature on the subject has been a source of vital information. However, most of these research studies involve first world countries and to the best of the researchers' knowledge, there are hardly any that solely focused on the Philippines. In this light, the researchers examine the macroeconomic and microeconomic factors that influence access to external finance. The researchers use dynamic panel data estimation techniques to estimate the models over a sample of firms in the industrial sector in the Philippines during the period from 1997 to 2006. The researchers find that the firms in the industrial sector in the Philippines are quite equally reliant on short-term debt financing and long-term debt financing. In fact, approximately 52% represents short-term debts - 34% of which belongs to short-term non-banks debts. In the case of short-term bank debts, the researchers find that this type of financing is sensitive to firm age, firm size, and its 1-year lagged value. Alternatively in the case of short-term non-bank financing, the results indicate that this type of financing is sensitive to firm-specific characteristics, except for firm profitability. In contrast, the researchers find that bank debts are generally affected by firm liquidity, profitability, and size.
format text
author Lu, Krizza Mienna D.
Ramoso, Katrina Camille I.
Sotingco, Joanna Marie C.
author_facet Lu, Krizza Mienna D.
Ramoso, Katrina Camille I.
Sotingco, Joanna Marie C.
author_sort Lu, Krizza Mienna D.
title Determinants of access to external finance: Evidence from selected publicly listed companies in the industrial sector in the Philippines for the period 1997-2006
title_short Determinants of access to external finance: Evidence from selected publicly listed companies in the industrial sector in the Philippines for the period 1997-2006
title_full Determinants of access to external finance: Evidence from selected publicly listed companies in the industrial sector in the Philippines for the period 1997-2006
title_fullStr Determinants of access to external finance: Evidence from selected publicly listed companies in the industrial sector in the Philippines for the period 1997-2006
title_full_unstemmed Determinants of access to external finance: Evidence from selected publicly listed companies in the industrial sector in the Philippines for the period 1997-2006
title_sort determinants of access to external finance: evidence from selected publicly listed companies in the industrial sector in the philippines for the period 1997-2006
publisher Animo Repository
publishDate 2010
url https://animorepository.dlsu.edu.ph/etd_bachelors/6952
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