EXPORT INTENSITY AND LEVERAGE: AN EMPIRICAL ANALYSIS OF SPANISH SMES

• DOI: 10.32479/ijefi.10071
• Publication Date: 2020-10-01T06:42:45Z
• Authors: David K. Chalmers; Marco Della Porta; Luca Sensini
• Keywords: Leverage (statistics); Operating leverage; Capital intensity

The aim of this study was to contribute the literature debate on financial behavior and corporate capital structure by focusing two aspects. First all, we analyzed how intensity exports therefore percentage weight foreign sales compared total affect leverage companies. Secondly, have which are most significant factors influencing SMEs. information for analysis were collected from Sabi database Bureau Van Dijk (BVD). To select companies be included in sample, followed a methodology capable ensuring that sample export oriented non-export adequately represented. overall size 2000 showed has negative impact leverage, suggesting as increase, decreases. In addition, profitability business risk negatively related while tangibility assets growth correlates positively with leverage.Keywords: Export intensity, Leverage, profitability, Spanish SMEsJEL Classifications: G32, M16, M21DOI: https://doi.org/10.32479/ijefi.10071