Results 271 to 280 of about 8,894,885 (304)
Maturity and Repayment Structure of Sovereign Debt [PDF]
, 2014 This paper studies the maturity, timing and relative size of repayments for sovereign debt. Using Bloomberg bond data for emerging economies, we document that sovereigns issue debt with shorter maturity but more back-loaded repayments during downturns. To account for this pattern, we study a sovereign-default model of a small open economy which issues ...
Seon Tae Kim, Gabriel Mihalache, Yan Bai
openaire
Some of the next articles are maybe not open access.
Related searches:
Related searches:
Debt Maturity Structure and Liquidity Risk
The Quarterly Journal of Economics, 1991This paper analyzes debt maturity structure for borrowers with private information about their future credit rating. Borrowers' projects provide them with rents that they cannot assign to lenders. The optimal maturity structure trades off a preference for short maturity due to expecting their credit rating to improve, against liquidity risk.
openaire +1 more source
Union Power and the Debt Maturity Structure
SSRN Electronic Journal, 2016How do powerful unions affect firms' debt maturity structure? I find that firms increase the fraction of long term debt as a response to unionization while keeping their leverage ratio unchanged. Using a regression discontinuity design I estimate that unionized firms increase by 25% the fraction of long-term debt as compared to union-free firms.
openaire +1 more source
Debt Maturity Structure and Liquidity Shocks
2019We 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
openaire +2 more sources
Debt Maturity Structure of Italian Firms
2009The aim of this paper is analyze the debt maturity choice of Italian firms using firm-level data. More precisely the analysis is aimed to characterize the profile of firms with different debt maturity and test the presence of a shift in the debt structure after the introduction of the euro currency.
openaire +1 more source
The Determinants of Corporate Debt Maturity Structure
2003This 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.
Antonios Antoniou +2 more
openaire +1 more source
The Maturity Structure of Private Placements of Debt
2017Abstract We examine the maturity structure in private placements of debt and relate it to contracting, signaling, tax, and liquidity risk considerations for firms. We find that firms with higher tax rates issue private placements of debt with longer maturities, consistent with the tax hypothesis.
Steven A. Dennis, Yilei Zhang, Song Wang
openaire +1 more source
Leverage and Optimal Debt Maturity Structure
2016The paper studies optimal debt maturity structure and focuses on two questions: whether firms of different leverages can increase firm values by exploiting short-term and long-terms bonds and/or by dispersing debt maturity dates. The calibrated model shows that it is optimal for low leverage firms to use long-term bonds exclusively but for high ...
openaire +1 more source
Oil Price Uncertainty and Corporate Debt Maturity Structure
Finance Research Letters, 2022Jin Boon Wong, Mostafa Monzur Hasan
exaly
Firm structure and corporate debt maturity
2012This thesis examines whether or the extent to which diversified firms (firms with more segments) borrow shorter-term debt relative to focused firms (a single segment firm). Collectively, we hypothesize that diversified firms are more capable and willing to borrow shorter-term debt because they have imperfectly correlated cash flows, higher liquidation ...
openaire +1 more source