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2007
Long-term debt is the term given to those obligations the firm does not have to pay for at least a year. They are also called funded debt or fixed liabilities. Items that may be classed as long-term debt are bonds, debentures, term loans, or, in small firms, mortgages on buildings.
John B. Guerard, Eli Schwartz
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Long-term debt is the term given to those obligations the firm does not have to pay for at least a year. They are also called funded debt or fixed liabilities. Items that may be classed as long-term debt are bonds, debentures, term loans, or, in small firms, mortgages on buildings.
John B. Guerard, Eli Schwartz
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DEBT, DEFICITS, AND LONG‐TERM RATES
Studies in Economics and Finance, 1997This paper investigates the relationship between government borrowing and long‐term interest rates utilizing a loanable funds framework to describe the interest rate determination process. Three measures of government borrowing are examined. The results indicate that there is not a significant relationship between government borrowing and long‐term ...
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Corporate Financing of Maturing Long-Term Debt
SSRN Electronic Journal, 2010We test the pecking order theory by examining how firms finance maturing long-term debt. This allows us to resolve the issues of debt capacity and endogeneity of financing deficit, to examine the role of internal financing, and to generate evidence regarding the order in which different sources of financing are used.
Armen Hovakimian, Milos Vulanovic
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Market Timing of Long-Term Debt Issuance
2009Les travaux portant sur la capacité des gestionnaires de bien choisir le moment et la durée de leurs emprunts sont loin d'être concluants. Les premiers résultats abondant en faveur d'une telle capacité ne tiennent plus si l'on envisage la possibilité de ruptures structurelles ou si l'échéance de la dette est établie à partir de données d'entreprises ...
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Long-term debt and overinvestment agency problem
Journal of Banking & Finance, 2010Abstract We investigate the role of long-term debt in influencing overinvestments by analyzing the pattern of abnormal investments around a new debt offering by unlevered firms. Before being levered when the disciplining role of debt is missing, firms retain excessive amounts of cash.
Ranjan D’Mello, Mercedes Miranda
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Valuation effects of holding gains on long-term debt
Journal of Accounting and Economics, 1987Abstract This paper presents a disaggregate approach to measuring market values of debt. Holding gains and losses on debt are separated into two component: those arising from unanticipated inflation and those arising from changes in credit risk. Both effects are large and statistically significant.
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The Determinants of Long‐Term Corporate Debt Issuances
The Journal of Finance, 2016ABSTRACTA significant proportion of the debt issued by investment‐grade firms has maturities greater than 20 years. In this paper we provide evidence that gap‐filling behavior is an important determinant of these very long‐term issues. Using data on individual corporate debt issues between 1987 and 2009, we find that gap‐filling behavior is more ...
DOMINIQUE C. BADOER +1 more
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Macroprudential Policy with Long-Term Debts
Fluctuations in long-term credit have important macroeconomic consequences over boom-bust cycles. This paper studies the crisis management when corporate entities can borrow long-term debts. With long-term debts, there exists a dynamic interaction between ex post interventions and ex ante macroprudential policies. Using the Bianchi (2016) framework, weLong Ma, Sichuang Xu
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BHP Billiton Group: Long-Term Debt (a)
SSRN Electronic Journal, 2017BHP Billiton Group issued two tranches of long-term debt in March 2009. Details and terms of those debt issues are provided. The case can be used to illustrate the accounting for long-term debt and publicly traded corporate bonds. Excerpt UVA-C-2317 Rev. Oct.
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Debt consolidation with long-term debt
2015The Great Recession has sent debt levels to a post-WWII high for several advanced economies, reviving the discussion of fiscal consolidation. This paper assesses the macroeconomic implications of tax-based versus spending-based consolidation within the framework of a New Keynesian model with long term government debt.
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