Debt maturity in Spanish small business startups: Vencimiento de la deuda en pequeñas empresas españolas de reciente creación

José Enrique Blasco Leante; Sonia Baños-Caballero; Pedro J. García-Teruel

doi:10.6018/rcsar.487681

Autores/as

José Enrique Blasco Leante University of Murcia, Murcia-SPAIN
Sonia Baños-Caballero University of Murcia, Murcia-SPAIN https://orcid.org/0000-0002-7988-6419
Pedro J. García-Teruel University of Murcia, Murcia-SPAIN https://orcid.org/0000-0001-7399-0111

DOI: https://doi.org/10.6018/rcsar.487681

Palabras clave: Vencimiento de la deuda, Empresas incipientes, Crisis financiera

Agencias de apoyo

MCIN/AEI/10.13039/501100011033 (Grant PID2020-113741GB-I00)

Resumen

Este artículo estudia el vencimiento de la deuda de empresas de nueva o reciente creación. En concreto, se analiza si el vencimiento de la deuda de estas empresas es diferente al de las empresas de mayor edad. Además, también se estudia si estas posibles diferencias se mantienen durante periodos de crisis financiera. Utilizando una muestra de pequeñas empresas españolas durante el período 2011-2020, los resultados indican que las empresas nuevas o de reciente creación tienen deuda con un menor vencimiento, lo que podría ser explicado por los mayores problemas de agencia e información asimétrica que tienen estas empresas. Además, se observa que este resultado se mantiene en periodos de crisis financiera.

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Vencimiento de la deuda en pequeñas empresas españolas de reciente creación