Custódio, Cláudia; Ferreira, Miguel A.; Laureano, Luís - In: Journal of Financial Economics 108 (2013) 1, pp. 182-212
We show that corporate use of long-term debt has decreased in the US over the past three decades and that this trend is heterogeneous across firms. The median percentage of debt maturing in more than 3 years decreased from 53% in 1976 to 6% in 2008 for the smallest firms but did not decrease for...
