The paper investigates the effects of firm-specific and country-specific characteristics, and the 1997 Asian financial crisis on the debt maturity structure of firms in the Asia Pacific region. The results indicate that firms in this region have a target optimal debt maturity structure, and the...

The divergence of opinion 'premium hypothesis', developed by Miller [Miller, E., 1977. Risk, uncertainty, and divergence of opinion. Journal of Finance 32, 1151-1168], predicts that the price of a stock is set by optimistic investors when belief asymmetry about its value is high. We examine...