Publicly-traded debt securities differ on a number of dimensions, including quality, maturity, seniority, security, and …, growth opportunities and cash holdings are related with the convertibility, maturity and security structure of issued bonds … the types of securities that are issued. Consistent with commonly stated 'maturity-matching' arguments, long …

A firm chooses its debt maturity structure and default timing dynamically, both without commitment. Via the fraction of … newly issued short-term bonds, equity holders control the maturity structure, which affects their endogenous default …

We argue that time-series variation in the maturity of aggregate corporate debt issues arises because firms behave as … macro liquidity providers, absorbing the large supply shocks associated with changes in the maturity structure of government … periods when the ratio of government debt to total debt is higher; and ii) by firms with stronger balance sheets. Our theory …

of the maturity structure of debt. The objective of a firm with long-term assets is to maximize the effective maturity of … its liabilities across several refinancing cycles, rather than to maximize the maturity of the current bonds outstanding …. An advantage of short-term financing is that a firm, while in good financial health, can readjust its maturity structure …

-varying debt maturity choices, as well as its implications for the term structure of credit spreads. Compared to short-term debt … liquidity costs changing over the business cycle, our calibrated model implies that debt maturity is pro-cyclical, firms with … high systematic risk favor longer debt maturity, and that these firms will have more stable maturity structures over the …

heterogeneity in financial contracting at the onset of the crisis by exploring ex-ante variation in long-term debt maturity. Our … credit supply shocks on corporate policies. For example, in the absence of a credit shock ("normal times"), the maturity … composition of long-term debt has no effect on investment outcomes. Likewise, maturity composition has no impact on investment …