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CEO Inside Debt and Firm's Maturity Structure of Debt
SSRN Electronic Journal, 2016This study examines managerial compensation incentives and its impact on firm’s financial decisions. Specifically, we examine how CEO’s inside-debt based compensation incentives (pension benefits and other deferred compensation) influences firm’s debt maturity structure.
Safi Khan, Jason Smith, Attaullah Shah
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The Determinants of Corporate Debt Maturity Structure
The Journal of Business, 1996The authors examine the empirical determinants of debt maturity structure using a maturity structure measure that incorporates detailed information about all of a firm's liabilities. They find that larger, less risky firms with longer-term asset maturities use longer-term debt.
Stohs, Mark Hoven, Mauer, David C.
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Debt maturity structure and cost stickiness
Journal of Corporate Accounting & Finance, 2020AbstractThis paper investigates the association between debt maturity structure and cost stickiness. One view in the cost stickiness literature suggests that managers deliberately continue to expand resources for their own private benefit, despite a decrease in the activity level.
Ahsan Habib, Mabel D. Costa
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Debt Maturity Structure and Credit Quality
Journal of Financial and Quantitative Analysis, 2010AbstractWe examine whether a firm’s debt maturity structure affects its credit quality. Consistent with theory, we find that firms with greater exposure to rollover risk (measured by the amount of long-term debt payable within a year relative to assets) have lower credit quality; long-term bonds issued by those firms trade at higher yield spreads ...
Radhakrishnan Gopalan +2 more
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Debt maturity structure of Chinese companies
Pacific-Basin Finance Journal, 2008Numerous studies have focused on the theoretical and empirical aspects of corporate capital structure since the 1960s. As a new branch of capital structure, however, debt maturity structure has not yet received as much attention as the debt-equity choice.
Guney, Yilmaz +2 more
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Industry Structure and Corporate Debt Maturity
Financial Review, 2010AbstractWe examine how industry competition affects firms’ choice of short‐term debt. We find that the percentage of short‐term debt is positively related to industry concentration at low levels of concentration, and inversely related to industry concentration at higher levels of concentration.
Otgontsetseg Erhemjamts +2 more
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Accruals Quality and Debt Maturity Structure
Abacus, 2010In this paper we use panel data and GMM estimation to examine the effect of accounting quality on debt maturity structure in a bank‐based financial system and show that, even after controlling for unobservable heterogeneity, endogeneity, variables reflecting operating volatility and the cost of debt, firms with poor accounting quality face a shorter ...
PEDRO J. GARCÍA‐TERUEL +2 more
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Debt Maturity Structure and Liquidity Shocks
SSRN Electronic Journal, 2018We analyze the role of a firm's debt maturity structure when refinancing its debt after a liquidity shock that reduces the firm's cash flow. Staggered debt diminishes the share of outstanding debt that a firm has to refinance at any given time, which should be most beneficial for highly levered firms.
Kolm, Julian +2 more
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Debt Maturity Structure and Accrual Quality
SSRN Electronic Journal, 2007Lending short term to firms has been suggested as a means of enhancing monitoring diligence by lenders and, as a result, firm behavior may potentially be improved. However, we show that the presence of short-term debt in firms' capital structures may also entice a very specific form of managerial misbehavior. We examine the relation between firms' debt
L. Paige Paige Fields, Manu Gupta
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Structure of Debt Maturity across Firm Types [PDF]
, 2015 We investigate if and when the leading theories of debt maturity are useful in understanding the maturity choices of nonfinancial firms in a major developing economy, Turkey. Unlike most research, we use a dataset that provides financial information on not only large, publicly-traded firms but also small, privately-held firms across a wide variety of ...
Cuneyt Orman, Bulent Koksal
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