THE IMPACT OF INFORMATION ASYMMETRY ON THE USE OF SHORT-TERM DEBT IN SELECTED EUROPEAN STATES

THE IMPACT OF INFORMATION ASYMMETRY ON THE USE OF SHORT-TERM DEBT IN SELECTED EUROPEAN STATES

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The article analysed the relation between the degree of nautica voyage hajuvesi information asymmetry and the scope of the use of short-term debt by companies from 5 European countries: France, Greece, Germany, the United Kingdom and Italy.Information asymmetry was measured by Synthetic Measure of the Degree of Information Asymmetry, which was constructed on the basis of 9 indicators.The presented analyses showed that, according to expectations resulting from the capital structure theory, the enterprises characterized by a higher degree of information asymmetry use short-term debt to a greater extent.Information asymmetry is an important determinant of the maturity structure of debt.However, the association between information asymmetry and the maturity structure of debt may be esp ltd sd-2 modified by various country-specific factors.