Employing firm-level observations from 13 countries over a seven year period. and controlling for an extensive set of firm-level characteristics. industry effects and country-level institutional variables. we provide a conceptual framework and empirical analysis of how culture influences capital structure in small and medium sized enterprises (SMEs). https://www.jmannino.com/limited-deal-Vaal-E5000-Disposable-5000-puffs-12mL-flash-save/