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Author : Michael J. Barclay
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (326 download)
Download or read book The Maturity Structure of Corporate Debt written by Michael J. Barclay and published by . This book was released on 1993 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael J. Barclay
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book The Maturity Structure of Corporate Debt written by Michael J. Barclay and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We provide an empirical examination of the determinants of corporate debt maturity. Our evidence offers strong support for the contracting-cost hypothesis. Firms that have few growth options are large, or are regulated have more long-term debt in their capital structure. We find little evidence that firms use the maturity structure of their debt to signal information to the market. The evidence is consistent, however, with the hypothesis that firms with larger information asymmetries issue more short- term debt. We find no evidence that taxes affect debt maturity.
Author : Sophia Chen
Publisher : International Monetary Fund
ISBN 13 : 1484397630
Total Pages : 77 pages
Book Rating : 4.4/5 (843 download)
Download or read book Debt Maturity and the Use of Short-Term Debt written by Sophia Chen and published by International Monetary Fund. This book was released on 2019-02-05 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: The maturity structure of debt can have financial and real consequences. Short-term debt exposes borrowers to rollover risk (where the terms of financing are renegotiated to the detriment of the borrower) and is associated with financial crises. Moreover, debt maturity can have an impact on the ability of firms to undertake long-term productive investments and, as a result, affect economic activity. The aim of this paper is to examine the evolution and determinants of debt maturity and to characterize differences across countries.
Author : Marco Sorge
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 43 pages
Book Rating : 4./5 ( download)
Download or read book Credit Information Quality and Corporate Debt Maturity written by Marco Sorge and published by World Bank Publications. This book was released on 2007 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new theoretical and empirical evidence suggesting that the quality of credit information may be a key element in explaining the maturity structure of corporate debt around the world. In markets with poor credit information and hence a high degree of uncertainty about borrower quality, the authors find suboptimal equilibria in which short-term contracts are preferred either as a hedge against uncertainty to limit losses in bad states (in the symmetric information case) or as a screening device to learn about borrower credit quality in the course of a repeated lending relationship (in the asymmetric information case). The results of the model are supported by the econometric analysis of panel data from both industrial and developing economies. The authors find that countries with better quality of credit information (for example, as a result of improvements in credit reporting systems or accounting standards) are characterized by a higher share of long-term debt as a proportion of total corporate debt ceteris paribus. The findings suggest that promoting institutions and policies to improve the quality of credit information is an important prerequisite for increasing access of firms to long-term finance.
Author : Fabio Schiantarelli
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4./5 ( download)
Download or read book The Maturity Structure of Debt written by Fabio Schiantarelli and published by World Bank Publications. This book was released on 1997 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 140 pages
Book Rating : 4.:/5 (927 download)
Download or read book The Maturity Structure of Corporate Debt written by and published by . This book was released on 1983 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ewa J. Kleczyk
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)
Download or read book The Determinants of Corporate Debt Maturity Structure written by Ewa J. Kleczyk and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Determinants of Corporate Debt Maturity Structure.
Author : Karlyn Mitchell
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (118 download)
Download or read book The Relevance of Corporate Debt Maturity Structure written by Karlyn Mitchell and published by . This book was released on 1984 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark Hoven Stohs
Publisher :
ISBN 13 :
Total Pages : 362 pages
Book Rating : 4.:/5 (89 download)
Download or read book Empirical Determinants of Corporate Debt Maturity Structure written by Mark Hoven Stohs and published by . This book was released on 1994 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Don Hamson
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.3/5 ( download)
Download or read book Debt Maturity and Corporate Capital Structure written by Don Hamson and published by . This book was released on 1990 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : George Gregory Farah
Publisher :
ISBN 13 :
Total Pages : 142 pages
Book Rating : 4.:/5 (132 download)
Download or read book Corporate debt written by George Gregory Farah and published by . This book was released on 1985 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Aydin Ozkan
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (594 download)
Download or read book An Empirical Analysis of Corporate Debt Maturity Structure written by Aydin Ozkan and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Thomas S. Y. Ho
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (953 download)
Download or read book The Debt Maturity Structure and the Component Yields on Corporate Debt Issues written by Thomas S. Y. Ho and published by . This book was released on 1980 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James R. Morris
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (683 download)
Download or read book An Empirical Investigation of the Corporate Debt Maturity Structure written by James R. Morris and published by . This book was released on 1975* with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Antonios Antoniou
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Determinants of Corporate Debt Maturity Structure written by Antonios Antoniou and published by . This book was released on 2004 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the determinants of corporate debt maturity structure decisions of French, German and UK firms using panel data. These countries are characterised by different financial systems and traditions that have implications on how firms decide their debt maturity structure. We apply several alternative estimation methods and show that in debt structure modelling endogeneity problem should be controlled for. We do so by using Generalised Method of Moments (GMM) estimation method. The GMM results suggest that firms in all three countries adjust their debt ratios to attain their target maturity structure. However, the speed at which firms adjust their maturity structure towards their target levels differs from one country to another. A direct association of debt maturity with leverage in all countries confirms the predictions of the liquidity risk argument. However, corporate tax rate, growth opportunities, liquidity, firm quality, earnings volatility, asset maturity and firm size have different degree and direction of effect on debt maturity across the sample countries. Apart from these firm-specific factors, we also find that the impact of market-related factors (term structure of interest rates, equity premium, share price performance, and interest rate volatility) on debt maturity is country dependent. Hence, the debt maturity structure of a firm is determined by both firm-specific factors and country-specific effects.
Author :
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (939 download)
Download or read book The Determinants of Corporate Debt Maturity Structure written by and published by . This book was released on 1995 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sujitra Eiammongkolsakul
Publisher :
ISBN 13 :
Total Pages : 108 pages
Book Rating : 4.:/5 (87 download)
Download or read book The Determinants of Corporate Debt Maturity Structure written by Sujitra Eiammongkolsakul and published by . This book was released on 2013 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:
