Anginer, Deniz; Demirgüç-Kunt, Asli; Tepe, Mete; … - 2019
Short-term debt exposes firms to credit supply shocks and liquidity risk. Short-term debt can also reduce potential … external monitoring through the use of short-term debt. The analysis finds that the relationship between debt maturity and …-term debt act as substitutes. Instrumenting the institutional environment with legal origin confirms the results …