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Naming as business strategy: an analysis of eponymy and debt contracting

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Main Author: Chen, Chen
Format: Book
Language:English
Published: Springer 2023
Subjects:
Naming as business strategy
Online Access:https://link.springer.com/article/10.1007/s11142-023-09765-w
https://dlib.phenikaa-uni.edu.vn/handle/PNK/8444
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spelling oai:localhost:PNK-84442023-05-12T02:03:00Z Naming as business strategy: an analysis of eponymy and debt contracting Chen, Chen Naming as business strategy CC BY This study proposes that naming a firm eponymously is a mechanism that small private firms can use to signal their superior financial performance and commitment to fulfill debt contract obligations. Using 621,614 small private firms in Europe over the period 2008–2018, we find that small private eponymous firms pay significantly lower interest on their debts and have more long-term debt than non-eponymous firms. Our findings are robust to various controls and placebo tests. Additional analyses show that eponymy lowers the cost of debt and facilitates long-term debt via reputation signaling and private information. We also document that the effect of eponymy on debt contracting is most pronounced when there is less financial development and when firms’ dependence on external financing is low, consistent with the idea that high-quality firms opt for eponymy when they consider less external financing. 2023-05-12T02:03:00Z 2023-05-12T02:03:00Z 2023 Book https://link.springer.com/article/10.1007/s11142-023-09765-w https://dlib.phenikaa-uni.edu.vn/handle/PNK/8444 en application/pdf Springer
institution Digital Phenikaa
collection Digital Phenikaa
language English
topic Naming as business strategy
spellingShingle Naming as business strategy
Chen, Chen
Naming as business strategy: an analysis of eponymy and debt contracting
description CC BY
format Book
author Chen, Chen
author_facet Chen, Chen
author_sort Chen, Chen
title Naming as business strategy: an analysis of eponymy and debt contracting
title_short Naming as business strategy: an analysis of eponymy and debt contracting
title_full Naming as business strategy: an analysis of eponymy and debt contracting
title_fullStr Naming as business strategy: an analysis of eponymy and debt contracting
title_full_unstemmed Naming as business strategy: an analysis of eponymy and debt contracting
title_sort naming as business strategy: an analysis of eponymy and debt contracting
publisher Springer
publishDate 2023
url https://link.springer.com/article/10.1007/s11142-023-09765-w
https://dlib.phenikaa-uni.edu.vn/handle/PNK/8444
_version_ 1765717598304993280
score 8.8894005

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