Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/264422 
Year of Publication: 
2022
Citation: 
[Journal:] The Journal of Entrepreneurial Finance (JEF) [ISSN:] 2373-1761 [Volume:] 24 [Issue:] 2 [Article No.:] 1 [Year:] 2022 [Pages:] 1-37
Publisher: 
Pepperdine University, Graziadio School of Business and Management and The Academy of Entrepreneurial Finance (AEF), Malibu, CA and Los Angeles, CA
Abstract: 
Private firm financing, given the far-reaching importance of non-publicly traded companies for global output and employment, is still a relatively underexplored area. Since the seminal work of Petersen and Rajan (1994), only a small branch of research into private firms' cost of debt has been established. We aggregate the full body of this research that has empirically investigated antecedents of private firms' cost of debt in a meta-analysis. The foremost antecedents can be categorized into either borrower, creditor or financial statement verification attributes. Our results reveal a set of 11 highly significant and robust determinants.
Subjects: 
Cost of debt
Meta-analysis
Private firms
SME
JEL: 
G21
G32
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc Logo
Document Type: 
Article

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