Short-term financing practice of mining companies - Mwania Wakosia, Jose
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Using data from Gécamines' partner mining firms, we found that the financial attribute components of financial strength and financial flexibility have an impact on firms' use of short-term debt. Firms with high financial strength use short-term debt while firms with high financial flexibility may not use short-term debt. The study of the determinants of short-term debt has become a hot topic in the financial literature in recent years. We found interesting results about the relationship between the firm's financial strength and short-term debt. Indeed, the firm opts for short-term debt when it…mehr

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Produktbeschreibung
Using data from Gécamines' partner mining firms, we found that the financial attribute components of financial strength and financial flexibility have an impact on firms' use of short-term debt. Firms with high financial strength use short-term debt while firms with high financial flexibility may not use short-term debt. The study of the determinants of short-term debt has become a hot topic in the financial literature in recent years. We found interesting results about the relationship between the firm's financial strength and short-term debt. Indeed, the firm opts for short-term debt when it has a strong financial strength. The significant results allow us to conclude that short-term debt helps to solve agency problems in mining firms. These results are mainly related to the growth option.
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Autorenporträt
MWANIA WAKOSIA José (PhD), Doutor em ciências financeiras, antigo aluno da Universidade Católica de Lovaina, Professor da Universidade de Lubumbashi, Vice-Reitor de Educação, Coordenador do PROFIT CONGO/Katanga/Banco Mundial, campos de investigação: Finanças Internacionais, Finanças Empresariais, Tributação.