TY  - JOUR 
TI  - Effects of foreign ownership and International Financial Reporting Standards on debt maturity in Chilean firms
PB  - Universidad Icesi
PY  - 2019
issn 0123-5923
AB  - The objective of this article is to determine the effects of foreign ownership and International Financial Reporting Standards (IFRS) on debt maturity in Chilean companies. The study uses a fractional response model (FRM) on 20,586 companies. The results show foreign ownership has a negative and non-linear effect. Foreign ownership in Chilean firms is a substitute control means in relation to long-term debt. IFRS reduces maturity in large companies and extends them in small and medium enterprises (SMEs). These results suggest it is more important for large firms to control agency conflicts, while it is more important for SMEs to reduce information asymmetry.
KW  - Credito
KW  - Prestamos comerciales
KW  - Inversiones extranjeras - Chile
KW  - Normas contables
KW  - NIIF (Normas Internacionales de Información Financiera)
UR  - http://repository.icesi.edu.co/biblioteca_digital/handle/10906/85250
ER  -