{"id":"https://openalex.org/W3160337361","doi":"https://doi.org/10.1108/sajbs-06-2020-0179","title":"Does debt heterogeneity impact firm value? Evidence from an emerging context","display_name":"Does debt heterogeneity impact firm value? Evidence from an emerging context","publication_year":2021,"publication_date":"2021-04-29","ids":{"openalex":"https://openalex.org/W3160337361","doi":"https://doi.org/10.1108/sajbs-06-2020-0179","mag":"3160337361"},"language":"en","primary_location":{"id":"doi:10.1108/sajbs-06-2020-0179","doi":"https://doi.org/10.1108/sajbs-06-2020-0179","is_oa":false,"landing_page_url":"https://doi.org/10.1108/sajbs-06-2020-0179","pdf_url":null,"source":{"id":"https://openalex.org/S4210181806","display_name":"South Asian Journal of Business Studies","issn_l":"2398-628X","issn":["2398-628X","2398-6298"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-1"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"South Asian Journal of Business Studies","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5067687816","display_name":"Amit Tripathy","orcid":"https://orcid.org/0000-0003-0026-587X","observed_orcids":["https://orcid.org/0000-0003-0026-587X"]},"institutions":[{"id":"https://openalex.org/I16292982","display_name":"National Institute of Technology Rourkela","ror":"https://ror.org/011gmn932","country_code":"IN","type":"education","lineage":["https://openalex.org/I16292982"]}],"countries":["IN"],"is_corresponding":false,"raw_author_name":"Amit Tripathy","raw_affiliation_strings":["School of Management, National Institute of Technology Rourkela, Rourkela, India"],"raw_orcid":"https://orcid.org/0000-0003-0026-587X","affiliations":[{"raw_affiliation_string":"School of Management, National Institute of Technology Rourkela, Rourkela, India","institution_ids":["https://openalex.org/I16292982"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5020390134","display_name":"Shigufta Hena Uzma","orcid":"https://orcid.org/0000-0001-8312-097X","observed_orcids":["https://orcid.org/0000-0001-8312-097X"]},"institutions":[{"id":"https://openalex.org/I16292982","display_name":"National Institute of Technology Rourkela","ror":"https://ror.org/011gmn932","country_code":"IN","type":"education","lineage":["https://openalex.org/I16292982"]}],"countries":["IN"],"is_corresponding":false,"raw_author_name":"Shigufta Hena Uzma","raw_affiliation_strings":["School of Management, National Institute of Technology Rourkela, Rourkela, India"],"raw_orcid":"https://orcid.org/0000-0001-8312-097X","affiliations":[{"raw_affiliation_string":"School of Management, National Institute of Technology Rourkela, Rourkela, India","institution_ids":["https://openalex.org/I16292982"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I16292982"],"apc_list":null,"apc_paid":null,"fwci":2.9975,"has_fulltext":false,"cited_by_count":15,"citation_normalized_percentile":{"value":0.90894421,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":96,"max":98},"biblio":{"volume":"11","issue":"4","first_page":"471","last_page":"488"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9883000254631042,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9883000254631042,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.003599999938160181,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.0032999999821186066,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/firm-value","display_name":"firm value","score":0.996999979019165},{"id":"https://openalex.org/keywords/bank-debt","display_name":"bank debt","score":0.9929999709129333},{"id":"https://openalex.org/keywords/debt-ratio","display_name":"debt ratio","score":0.8240000009536743},{"id":"https://openalex.org/keywords/asset-tangibility","display_name":"tangibility","score":0.9679999947547913},{"id":"https://openalex.org/keywords/liquidity","display_name":"liquidity","score":0.9639999866485596},{"id":"https://openalex.org/keywords/indian-listed-firms","display_name":"Indian listed companies","score":0.7089999914169312}],"concepts":[{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.6853361129760742},{"id":"https://openalex.org/C23032112","wikidata":"https://www.wikidata.org/wiki/Q1344727","display_name":"Enterprise value","level":2,"score":0.6386191844940186},{"id":"https://openalex.org/C180916674","wikidata":"https://www.wikidata.org/wiki/Q3711935","display_name":"Diversification (marketing strategy)","level":2,"score":0.5721238255500793},{"id":"https://openalex.org/C202189257","wikidata":"https://www.wikidata.org/wiki/Q2915683","display_name":"Internal debt","level":3,"score":0.5704532861709595},{"id":"https://openalex.org/C106210156","wikidata":"https://www.wikidata.org/wiki/Q1559695","display_name":"Debt-to-GDP ratio","level":4,"score":0.5495315194129944},{"id":"https://openalex.org/C175647561","wikidata":"https://www.wikidata.org/wiki/Q1347876","display_name":"Equity value","level":5,"score":0.5461041927337646},{"id":"https://openalex.org/C135665773","wikidata":"https://www.wikidata.org/wiki/Q2234049","display_name":"Debt ratio","level":3,"score":0.5320488214492798},{"id":"https://openalex.org/C22270272","wikidata":"https://www.wikidata.org/wiki/Q5248601","display_name":"Debt levels and flows","level":4,"score":0.5251902341842651},{"id":"https://openalex.org/C44171179","wikidata":"https://www.wikidata.org/wiki/Q461319","display_name":"External debt","level":3,"score":0.4941428005695343},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4904162585735321},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.46797114610671997},{"id":"https://openalex.org/C40566830","wikidata":"https://www.wikidata.org/wiki/Q7450734","display_name":"Senior debt","level":5,"score":0.44339895248413086},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.42765629291534424},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.4215211272239685},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3801839351654053},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.22003427147865295},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.1043241024017334},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1108/sajbs-06-2020-0179","doi":"https://doi.org/10.1108/sajbs-06-2020-0179","is_oa":false,"landing_page_url":"https://doi.org/10.1108/sajbs-06-2020-0179","pdf_url":null,"source":{"id":"https://openalex.org/S4210181806","display_name":"South Asian Journal of Business Studies","issn_l":"2398-628X","issn":["2398-628X","2398-6298"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-1"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"South Asian Journal of Business Studies","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":66,"referenced_works":["https://openalex.org/W1539050717","https://openalex.org/W1972264357","https://openalex.org/W1974412470","https://openalex.org/W1993191426","https://openalex.org/W2000578291","https://openalex.org/W2017126962","https://openalex.org/W2022343212","https://openalex.org/W2023554292","https://openalex.org/W2025610165","https://openalex.org/W2030663533","https://openalex.org/W2032584025","https://openalex.org/W2032603684","https://openalex.org/W2045480472","https://openalex.org/W2055324653","https://openalex.org/W2060723329","https://openalex.org/W2072282899","https://openalex.org/W2074928461","https://openalex.org/W2080462468","https://openalex.org/W2082198256","https://openalex.org/W2082770469","https://openalex.org/W2084310832","https://openalex.org/W2086995991","https://openalex.org/W2110120163","https://openalex.org/W2115846503","https://openalex.org/W2117445041","https://openalex.org/W2118889105","https://openalex.org/W2120744852","https://openalex.org/W2121308228","https://openalex.org/W2125231899","https://openalex.org/W2125664626","https://openalex.org/W2128107798","https://openalex.org/W2136736820","https://openalex.org/W2143437037","https://openalex.org/W2157005718","https://openalex.org/W2160860931","https://openalex.org/W2170790204","https://openalex.org/W2323290796","https://openalex.org/W2735327831","https://openalex.org/W2739916346","https://openalex.org/W2752617332","https://openalex.org/W2779512055","https://openalex.org/W2898751466","https://openalex.org/W2942896908","https://openalex.org/W2945951724","https://openalex.org/W2969214155","https://openalex.org/W2985264742","https://openalex.org/W3006395572","https://openalex.org/W3007429836","https://openalex.org/W3016737646","https://openalex.org/W3021730216","https://openalex.org/W3022374830","https://openalex.org/W3121824878","https://openalex.org/W3122124451","https://openalex.org/W3122340701","https://openalex.org/W3122956016","https://openalex.org/W3122972215","https://openalex.org/W3123236100","https://openalex.org/W3123275375","https://openalex.org/W3124114405","https://openalex.org/W3124161534","https://openalex.org/W3124599649","https://openalex.org/W3124823696","https://openalex.org/W3125337127","https://openalex.org/W3125937655","https://openalex.org/W3156621706","https://openalex.org/W4241782546"],"related_works":["https://openalex.org/W3007429836","https://openalex.org/W4402527590","https://openalex.org/W7124300361","https://openalex.org/W2942896908","https://openalex.org/W7113707032","https://openalex.org/W2497305348","https://openalex.org/W2567292934","https://openalex.org/W4289209136","https://openalex.org/W4409425507","https://openalex.org/W3215475407"],"abstract_inverted_index":{"Purpose":[0],"The":[1,20,36,74,122,136,197],"present":[2],"paper":[3,21],"attempts":[4],"to":[5,24,53,63,107,162,220],"explain":[6],"the":[7,26,65,87,92,139,143,150,189,202,224],"impact":[8,66,79,165],"of":[9,29,47,58,67,80,94,125,138,204],"debt":[10,14,81,95,105,115,129,151,159,177,205,212],"diversification":[11,82,206],"and":[12,132],"various":[13,30],"financing":[15,152],"sources":[16],"on":[17,70,83,101,119,157,166],"firm":[18,33,71,84,102,111,120,126,167,215],"value.":[19,34,72,85,103,121,168],"also":[22,89,208],"aims":[23],"address":[25],"long-run":[27,123],"causality":[28],"factors":[31,69],"affecting":[32],"Design/methodology/approach":[35],"study":[37,64,75,140,198],"employs":[38],"a":[39,45,77,98,108,163],"dynamic":[40],"panel":[41],"data":[42],"model":[43],"for":[44],"sample":[46],"233":[48],"listed":[49],"firms":[50],"from":[51],"2010":[52],"2019.":[54],"Two-step":[55],"generalized":[56],"method":[57],"moments":[59],"(GMM)":[60],"is":[61,172,182,218],"devised":[62],"firm-specific":[68],"Findings":[73],"establishes":[76],"negative":[78,164],"Further,":[86],"results":[88],"signal":[90],"how":[91,210],"choice":[93],"instruments":[96,160,213],"has":[97,116,192],"heterogeneous":[99],"effect":[100,118],"Non-bank":[104],"leads":[106,161],"discount":[109],"in":[110,145,188,223],"value,":[112],"while":[113],"bank":[114],"no":[117],"determinants":[124],"value":[127,216],"are":[128],"ratio,":[130],"tangibility":[131],"liquidity.":[133],"Research":[134],"limitations/implications":[135],"findings":[137],"would":[141],"aid":[142],"mangers":[144],"making":[146],"informed":[147],"decisions":[148],"regarding":[149],"structure.":[153],"Too":[154],"much":[155],"reliance":[156],"non-bank":[158],"Therefore":[169],"careful":[170],"evaluation":[171],"necessary":[173],"before":[174],"accessing":[175],"multiple":[176],"sources.":[178],"Originality/value":[179],"Debt":[180],"heterogeneity":[181],"globally":[183],"established;":[184],"however,":[185],"its":[186],"presence":[187],"Indian":[190,225],"context":[191],"not":[193,199],"been":[194],"validated":[195],"extensively.":[196],"only":[200],"validates":[201],"existence":[203],"but":[207],"investigates":[209],"individual":[211],"affect":[214],"that":[217],"yet":[219],"be":[221],"examined":[222],"context.":[226]},"counts_by_year":[{"year":2026,"cited_by_count":4},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":4},{"year":2023,"cited_by_count":4}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2021-05-24T00:00:00"}
