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Debt Covenants, Agency Costs and Debt Maturity
SSRN Electronic Journal, 2010 Corporate debt maturity is a concave function of financial leverage when the debt has restrictive asset-based covenants attached. This concavity kicks in earlier with increasing covenant tightness and is absent when firms have no restrictive asset-based covenants.
Jamie Alcock +2 more
openalex +2 more sources
Debt Maturity, Risk, and Asymmetric Information [PDF]
The Journal of Finance, 2004 ABSTRACTWe test the implications of Flannery's (1986) and Diamond's (1991) models concerning the effects of risk and asymmetric information in determining debt maturity, and we examine the overall importance of informational asymmetries in debt maturity choices. We employ data on over 6,000 commercial loans from 53 large U.S. banks. Our results for low‐
Allen N. Berger +3 more
openaire +7 more sources
Pengaruh Kualitas Pelaporan Keuangan dan Debt Maturity terhadap Efisiensi Investasi
Jurnal Riset Akuntansi, 2023 Abstrak. Penelitian ini bertujuan untuk menganalisis dan mengetahui pengaruh kualitas pelaporan keuangan dan debt maturity terhadap efisiensi investasi. Populasi dalam penelitian ini adalah perusahaan manufaktur di Bursa Efek Indonesia periode 2019-2021.
Kharisma Hardiyanti, Kania Nurcholisah
semanticscholar +1 more source
Neraca Keuangan : Jurnal Ilmiah Akuntansi dan Keuangan, 2022 This study aims to prove that the quality of financial statements, debt maturity, and profitability performance can affect investment efficiency. Quality financial reports and good financial performance can maintain the company's financial stability so ...
Monica Marsya, Rosiyana Dewi
semanticscholar +1 more source
Jurnal Dinamika Akuntansi dan Bisnis, 2022 This research investigates the influence of financial reporting quality, tax avoidance, and debt maturity on investment efficiency in Indonesia. This study also examines the role of corporate social responsibility disclosure as a moderating variable ...
Riandi Satria Sukarno +5 more
semanticscholar +1 more source
Determinants of debt maturity structure: Evidence in Vietnam
Cogent Business & Management, 2022 This paper examines the determinants of debt maturity structure in listed small and medium enterprises in Vietnam from 2010 to 2019. Agency cost theory, signaling theory, tax-based theory, and matching theory are discussed as platform theories for ...
Kim Quoc Trung Nguyen
semanticscholar +1 more source
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.
P. F. R. D. Zef Arfiansyah
semanticscholar +1 more source
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.
openaire +5 more sources
Globalization and Firms' Financing Choices: Evidence from Emerging Economies [PDF]
, 2001 This paper studies the relation between firm's financing choices and financial globalization. Using an East Asian and Latin American firm-level panel for the 1980s and 1990s, we study how leverage ratios, debt maturity structure, and sources of financing
Esteban Vesperoni, Sergio Schmukler
core +5 more sources
CEO Inside Debt and Corporate Debt Maturity Structure [PDF]
SSRN Electronic Journal, 2015 This paper examines the relation between chief executive officer (CEO) inside debt holdings and corporate debt maturity. We provide robust evidence that inside debt has a positive effect on short-maturity debt and that this effect is concentrated in financially unconstrained firms that face lower refinancing risk.
Dang, Viet, Phan, Hieu V.
openaire +1 more source