Stephan, Andreas; Talavera, Oleksandr; Tsapin, Andriy - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
addition, we find that companies do not react uniformly to determinants of debt maturity. Firms that mainly rely on external … funds are sensitive to signaling and they consider the variability of firm value an important determinant of their debt … maturity choice. For less constrained companies that rely more on internal funding, asset maturity is an essential determinant …