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The Role of Integrated Reporting in Emerging Market: Earnings Quality and Debt Maturity
Jurnal Manajemen, 2021 The maturity structure of debt can have financial and operational consequences for a firm as debt maturity is a key aspect of financial flexibility. Moreover, debt maturity can impact a firm’s ability to undertake long-term productive investments and, as
Pria A. Pamungkas, Amrie Firmansyah, Resi A. Qadri, Agung Dinarjito, Zef Arfiansyah
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Debt maturity without commitment [PDF]
Journal of Monetary Economics, 2008 I analyze how lack of commitment afiects the maturity structure of sovereign debt. Governments balance beneflts of default induced redistribution and costs due to income losses in the wake of a default. Their choice of short- versus longterm debt afiects default and rollover decisions by subsequent policy makers.
Dirk Niepelt
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On signalling and debt maturity choice [PDF]
Applied Financial Economics Letters, 2006 The theoretical literature on a firm’s choice of debt maturity argues that a borrowing firm can signal its value in asymmetric information setting by borrowing short. This well-known fact is based on Flannery (1986). This paper questions the use of debt maturity as a signalling device.
Lensink, Robert, Pham Thi Thu, Tra
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Sovereign Debt: Indexation and Maturity [PDF]
SSRN Electronic Journal, 2006 In this paper we review the literature on sovereign debt with particular emphasis on indexation and maturity and the main policy proposals related to these topics. We also advance some implications derived from our work. In Alfaro and Kanczuk (2005a, b, c), we modeled sovereign debt as a contingent claim following the framework developed by Grossman ...
Laura Alfaro, Fabio Kanczuk
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Tax Aggressiveness, Fair Value Accounting, Debt Maturity: Does Integrated Reporting Matter?
Jurnal Akuntansi, 2022 This study investigates the association between tax aggressiveness, fair value accounting and debt maturity and whether Integrated Reporting (IR) moderates those relationships.
Pria A. Pamungkas, Amrie Firmansyah, Resi A. Qadri, Agung Dinarjito, Zef Arfiansyah
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Debt Maturity: Is Long‐Term Debt Optimal? [PDF]
Review of International Economics, 2009 AbstractWe model and calibrate the arguments in favor and against short‐term and long‐term debt. These arguments broadly include: maturity premium, sustainability, and service smoothing. We use a dynamic‐equilibrium model with tax distortions and government outlays uncertainty, and model maturity as the fraction of debt that needs to be rolled over ...
Laura Alfaro, Fabio Kanczuk
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Optimal Debt Maturity and Firm Investment [PDF]
SSRN Electronic Journal, 2020 This paper introduces a maturity choice to the standard model of firm financing and investment. Long-term debt renders the optimal firm policy time-inconsistent. Lack of commitment gives rise to debt dilution.
J. Jungherr, Immo Schott
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SSRN Electronic Journal, 2021 We examine ways to describe the maturity structure of public debts using few parameters. We compile a novel data set of all promised future payments for U.S.
P. Barrett, Christopher Johns
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Debt maturity and the liquidity of secondary debt markets [PDF]
Journal of Financial Economics, 2013 We model the debt maturity choice of firms in the presence of fixed issuance costs in the primary market and search frictions in the secondary market for debt. In the secondary market, short maturities improve the bargaining position of sellers, which reduces the required issuance yield. Long maturities reduce reissuance costs.
Bruche, Max, Segura, Anatoli
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Debt Maturity and the International Financial Architecture [PDF]
IMF Working Papers, 2004 This paper presents a theory of the maturity of international sovereign debt, and derives its implications for the reform of the international financial architecture. The analysis is based on a model in which the need to roll over external debt disciplines the policies of debtor countries, but makes them vulnerable to unwarranted debt crises due to ...
Olivier Jeanne
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