{"id":"https://openalex.org/W4319982944","doi":"https://doi.org/10.3390/axioms12020183","title":"How Particular Firm-Specific Features Influence Corporate Debt Level: A Case Study of Slovak Enterprises","display_name":"How Particular Firm-Specific Features Influence Corporate Debt Level: A Case Study of Slovak Enterprises","publication_year":2023,"publication_date":"2023-02-10","ids":{"openalex":"https://openalex.org/W4319982944","doi":"https://doi.org/10.3390/axioms12020183"},"language":"en","primary_location":{"id":"doi:10.3390/axioms12020183","doi":"https://doi.org/10.3390/axioms12020183","is_oa":true,"landing_page_url":"https://doi.org/10.3390/axioms12020183","pdf_url":"https://www.mdpi.com/2075-1680/12/2/183/pdf?version=1676006944","source":{"id":"https://openalex.org/S4210173132","display_name":"Axioms","issn_l":"2075-1680","issn":["2075-1680"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["anvur-scientific","cwts-core","doaj","poland-20","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Axioms","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://www.mdpi.com/2075-1680/12/2/183/pdf?version=1676006944","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5066046440","display_name":"Dominika Gajdosikova","orcid":"https://orcid.org/0000-0001-7705-3264","observed_orcids":["https://orcid.org/0000-0001-7705-3264"]},"institutions":[{"id":"https://openalex.org/I3122011922","display_name":"University of \u017dilina","ror":"https://ror.org/031wwwj55","country_code":"SK","type":"education","lineage":["https://openalex.org/I3122011922"]}],"countries":["SK"],"is_corresponding":true,"raw_author_name":"Dominika Gajdosikova","raw_affiliation_strings":["Faculty of Operation and Economics of Transport and Communications, University of Zilina, Univerzitna 1, 010 26 Zilina, Slovakia"],"raw_orcid":"https://orcid.org/0000-0001-7705-3264","affiliations":[{"raw_affiliation_string":"Faculty of Operation and Economics of Transport and Communications, University of Zilina, Univerzitna 1, 010 26 Zilina, Slovakia","institution_ids":["https://openalex.org/I3122011922"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5034782639","display_name":"George L\u0103z\u0103roiu","orcid":"https://orcid.org/0000-0002-3422-6310","observed_orcids":["https://orcid.org/0000-0002-3422-6310"]},"institutions":[{"id":"https://openalex.org/I107502644","display_name":"Spiru Haret University","ror":"https://ror.org/01qkq8c66","country_code":"RO","type":"education","lineage":["https://openalex.org/I107502644"]}],"countries":["RO"],"is_corresponding":true,"raw_author_name":"George L\u0103z\u0103roiu","raw_affiliation_strings":["Department of Economic Sciences, Spiru Haret University, 030045 Bucharest, Romania"],"raw_orcid":"https://orcid.org/0000-0002-3422-6310","affiliations":[{"raw_affiliation_string":"Department of Economic Sciences, Spiru Haret University, 030045 Bucharest, Romania","institution_ids":["https://openalex.org/I107502644"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5018527299","display_name":"Katar\u00edna Val\u00e1\u0161kov\u00e1","orcid":"https://orcid.org/0000-0003-4223-7519","observed_orcids":["https://orcid.org/0000-0003-4223-7519"]},"institutions":[{"id":"https://openalex.org/I3122011922","display_name":"University of \u017dilina","ror":"https://ror.org/031wwwj55","country_code":"SK","type":"education","lineage":["https://openalex.org/I3122011922"]}],"countries":["SK"],"is_corresponding":true,"raw_author_name":"Katarina Valaskova","raw_affiliation_strings":["Faculty of Operation and Economics of Transport and Communications, University of Zilina, Univerzitna 1, 010 26 Zilina, Slovakia"],"raw_orcid":"https://orcid.org/0000-0003-4223-7519","affiliations":[{"raw_affiliation_string":"Faculty of Operation and Economics of Transport and Communications, University of Zilina, Univerzitna 1, 010 26 Zilina, Slovakia","institution_ids":["https://openalex.org/I3122011922"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5018527299","https://openalex.org/A5034782639","https://openalex.org/A5066046440"],"corresponding_institution_ids":["https://openalex.org/I107502644","https://openalex.org/I3122011922"],"apc_list":{"value":1600,"currency":"CHF","value_usd":1779},"apc_paid":{"value":1600,"currency":"CHF","value_usd":1779},"fwci":4.7835,"has_fulltext":true,"cited_by_count":27,"citation_normalized_percentile":{"value":0.95311701,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":97,"max":99},"biblio":{"volume":"12","issue":"2","first_page":"183","last_page":"183"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9398999810218811,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9398999810218811,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.053300000727176666,"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/T11653","display_name":"Financial Distress and Bankruptcy Prediction","score":0.0017000000225380063,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/corporate-debt","display_name":"corporate debt","score":0.8899999856948853},{"id":"https://openalex.org/keywords/debt-ratio","display_name":"debt ratio","score":0.7350000143051147},{"id":"https://openalex.org/keywords/firm-size","display_name":"firm size","score":0.9079999923706055},{"id":"https://openalex.org/keywords/debt-policy","display_name":"debt policy","score":0.5139999985694885},{"id":"https://openalex.org/keywords/default-risk","display_name":"default risk","score":0.6769999861717224},{"id":"https://openalex.org/keywords/asset-volatility","display_name":"asset volatility","score":0.7509999871253967},{"id":"https://openalex.org/keywords/slovak-companies","display_name":"Slovak companies","score":0.8529999852180481}],"concepts":[{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.6675740480422974},{"id":"https://openalex.org/C2780102689","wikidata":"https://www.wikidata.org/wiki/Q9058","display_name":"Slovak","level":3,"score":0.6353366374969482},{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.5732237696647644},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5429770946502686},{"id":"https://openalex.org/C135665773","wikidata":"https://www.wikidata.org/wiki/Q2234049","display_name":"Debt ratio","level":3,"score":0.48677706718444824},{"id":"https://openalex.org/C2777267654","wikidata":"https://www.wikidata.org/wiki/Q3519023","display_name":"Test (biology)","level":2,"score":0.4210056662559509},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3951544761657715},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.3698866069316864},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.34837400913238525},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3306831121444702},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C41895202","wikidata":"https://www.wikidata.org/wiki/Q8162","display_name":"Linguistics","level":1,"score":0.0},{"id":"https://openalex.org/C2777842544","wikidata":"https://www.wikidata.org/wiki/Q9056","display_name":"Czech","level":2,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.3390/axioms12020183","doi":"https://doi.org/10.3390/axioms12020183","is_oa":true,"landing_page_url":"https://doi.org/10.3390/axioms12020183","pdf_url":"https://www.mdpi.com/2075-1680/12/2/183/pdf?version=1676006944","source":{"id":"https://openalex.org/S4210173132","display_name":"Axioms","issn_l":"2075-1680","issn":["2075-1680"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["anvur-scientific","cwts-core","doaj","poland-20","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Axioms","raw_type":"journal-article"},{"id":"pmh:oai:doaj.org/article:a8d104fa21854f3cbfcfe4415e12016f","doi":null,"is_oa":true,"landing_page_url":"https://doaj.org/article/a8d104fa21854f3cbfcfe4415e12016f","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Axioms, Vol 12, Iss 2, p 183 (2023)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.3390/axioms12020183","doi":"https://doi.org/10.3390/axioms12020183","is_oa":true,"landing_page_url":"https://doi.org/10.3390/axioms12020183","pdf_url":"https://www.mdpi.com/2075-1680/12/2/183/pdf?version=1676006944","source":{"id":"https://openalex.org/S4210173132","display_name":"Axioms","issn_l":"2075-1680","issn":["2075-1680"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["anvur-scientific","cwts-core","doaj","poland-20","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Axioms","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G2990441933","display_name":null,"funder_award_id":"313011BWN6","funder_id":"https://openalex.org/F4320335322","funder_display_name":"European Regional Development Fund"}],"funders":[{"id":"https://openalex.org/F4320323251","display_name":"Agent\u00fara na Podporu V\u00fdskumu a V\u00fdvoja","ror":"https://ror.org/037nx0e70"},{"id":"https://openalex.org/F4320335322","display_name":"European Regional Development Fund","ror":"https://ror.org/00k4n6c32"}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4319982944.pdf","grobid_xml":"https://content.openalex.org/works/W4319982944.grobid-xml"},"referenced_works_count":93,"referenced_works":["https://openalex.org/W1978430780","https://openalex.org/W2069181772","https://openalex.org/W2074928461","https://openalex.org/W2124597406","https://openalex.org/W2138301182","https://openalex.org/W2223405396","https://openalex.org/W2572808481","https://openalex.org/W2726332764","https://openalex.org/W2800091649","https://openalex.org/W2884043172","https://openalex.org/W2889107452","https://openalex.org/W2942509949","https://openalex.org/W2968934261","https://openalex.org/W2981229274","https://openalex.org/W2988303943","https://openalex.org/W3003961621","https://openalex.org/W3011161438","https://openalex.org/W3013627953","https://openalex.org/W3015135109","https://openalex.org/W3022000577","https://openalex.org/W3034553316","https://openalex.org/W3045279505","https://openalex.org/W3046212535","https://openalex.org/W3085753122","https://openalex.org/W3087902278","https://openalex.org/W3111287333","https://openalex.org/W3119089650","https://openalex.org/W3119156484","https://openalex.org/W3121786578","https://openalex.org/W3127141218","https://openalex.org/W3130722724","https://openalex.org/W3131759518","https://openalex.org/W3133775643","https://openalex.org/W3135593664","https://openalex.org/W3139041612","https://openalex.org/W3139968380","https://openalex.org/W3140750210","https://openalex.org/W3144141228","https://openalex.org/W3148753137","https://openalex.org/W3157649761","https://openalex.org/W3160229565","https://openalex.org/W3160337361","https://openalex.org/W3164909633","https://openalex.org/W3164980233","https://openalex.org/W3166157777","https://openalex.org/W3168847038","https://openalex.org/W3170797897","https://openalex.org/W3173526864","https://openalex.org/W3173877885","https://openalex.org/W3175148991","https://openalex.org/W3177987868","https://openalex.org/W3182855004","https://openalex.org/W3185962146","https://openalex.org/W3186909504","https://openalex.org/W3194112082","https://openalex.org/W3199217309","https://openalex.org/W3201586389","https://openalex.org/W3201874260","https://openalex.org/W3204282575","https://openalex.org/W3204587795","https://openalex.org/W3207596659","https://openalex.org/W3208884951","https://openalex.org/W4200083296","https://openalex.org/W4200095724","https://openalex.org/W4200230499","https://openalex.org/W4200376019","https://openalex.org/W4200494692","https://openalex.org/W4200600614","https://openalex.org/W4206783806","https://openalex.org/W4210737867","https://openalex.org/W4213011741","https://openalex.org/W4226482871","https://openalex.org/W4285057791","https://openalex.org/W4285157454","https://openalex.org/W4285228621","https://openalex.org/W4285287678","https://openalex.org/W4285595011","https://openalex.org/W4285617664","https://openalex.org/W4291198806","https://openalex.org/W4291570740","https://openalex.org/W4297478646","https://openalex.org/W4312227691","https://openalex.org/W4312237292","https://openalex.org/W4312396076","https://openalex.org/W4312570136","https://openalex.org/W4312746179","https://openalex.org/W4313122568","https://openalex.org/W4313392050","https://openalex.org/W4313785799","https://openalex.org/W4313785803","https://openalex.org/W4313785805","https://openalex.org/W4313785816","https://openalex.org/W4317738585"],"related_works":["https://openalex.org/W4313894543","https://openalex.org/W4283159650","https://openalex.org/W3201874260","https://openalex.org/W7081988534","https://openalex.org/W4396669898","https://openalex.org/W4391352238","https://openalex.org/W7153351690","https://openalex.org/W7082031626","https://openalex.org/W4322752595","https://openalex.org/W2998817675"],"abstract_inverted_index":{"Debt":[0],"financing":[1,20],"is":[2,29,57],"related":[3],"to":[4,44,83,104,151,175],"borrowing":[5],"funds":[6],"from":[7],"enterprises":[8,91],"and":[9,28,85,102,122,157,202,227,265,281],"investors":[10],"through":[11],"bonds,":[12],"banks,":[13],"or":[14,252],"financial":[15,71],"institutions.":[16],"Interest":[17],"in":[18,25,93,112,149,189],"debt":[19,56,100,114,193,233],"has":[21],"been":[22],"rapidly":[23],"growing":[24],"recent":[26],"years":[27],"now":[30],"considered":[31],"one":[32],"of":[33,51,55,62,68,73,79,90,118,154,192,198,206,224,256,263,273,287],"the":[34,49,60,66,69,74,87,94,119,152,155,166,172,190,199,203,207,214,222,231,249,254,260,271],"most":[35,215],"common":[36],"ways":[37],"an":[38,131,236],"enterprise":[39],"can":[40],"increase":[41],"its":[42,46,123,158],"capital":[43],"run":[45],"business.":[47],"However,":[48],"use":[50],"a":[52,116,137,196],"large":[53],"amount":[54],"associated":[58],"with":[59],"management":[61],"corporate":[63,113,134,219,232,257,288],"indebtedness,":[64],"requiring":[65],"tracking":[67],"entire":[70],"performance":[72],"company.":[75],"The":[76,181,268],"chief":[77],"objective":[78],"this":[80],"study":[81],"was":[82,161],"determine":[84],"assess":[86],"indebtedness":[88,147],"level":[89],"operating":[92],"Slovak":[95],"Republic":[96],"using":[97],"12":[98],"crucial":[99],"ratios":[101,148,194],"then":[103],"clarify":[105],"whether":[106],"there":[107],"are":[108,284],"statistically":[109,142,186],"relevant":[110,127,143,216],"dissimilarities":[111,144,188],"as":[115,195,239,246],"result":[117,184,197],"firm":[120,200,225,279],"size":[121,153,201,226,280],"legal":[124,159,204,228,282],"form,":[125],"representing":[126],"company-specific":[128,241],"features":[129,242],"having":[130],"impact":[132],"on":[133,230],"indebtedness.":[135],"Subsequently,":[136],"more":[138],"elaborate":[139],"analysis":[140],"addressing":[141],"between":[145],"separate":[146],"relation":[150],"company":[156],"form":[160,205,229,283],"carried":[162],"out":[163],"by":[164],"deploying":[165],"nonparametric":[167],"Kruskal\u2013Wallis":[168,182],"test.":[169],"We":[170],"leveraged":[171],"Bonferroni":[173],"correction":[174],"specify":[176],"where":[177],"stochastic":[178],"ascendancy":[179],"occurs.":[180],"test":[183],"revealed":[185],"significant":[187],"values":[191],"company,":[208],"which":[209],"confirmed":[210,270],"previous":[211],"results":[212],"indicating":[213],"determinants":[217],"shaping":[218],"debt.":[220,289],"Recognizing":[221],"repercussions":[223],"policy":[234],"plays":[235],"important":[237],"role,":[238],"these":[240],"may":[243],"be":[244],"perceived":[245],"proxies":[247],"for":[248,253],"default":[250],"likelihood":[251],"volatility":[255],"assets,":[258],"making":[259],"regulatory":[261],"process":[262],"creditors":[264],"stakeholders":[266],"straightforward.":[267],"findings":[269],"theories":[272],"numerous":[274],"researchers":[275],"who":[276],"claimed":[277],"that":[278],"critical":[285],"aspects":[286]},"counts_by_year":[{"year":2026,"cited_by_count":5},{"year":2025,"cited_by_count":4},{"year":2024,"cited_by_count":5},{"year":2023,"cited_by_count":13}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2023-02-11T00:00:00"}