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How to entrench hard-won gains, increase resilience to shocks, and improve growth performance to reduce poverty? As Central America moves forward in regaining macroeconomic stability, these are the challenges. This study analyzes Central America’s real, fiscal, monetary, and financial...
Persistent link: https://www.econbiz.de/10005590924
This paper aims to investigate the determinants of corporate debt maturity structure using a panel of Tunisian and … long-term debts. We find that market timing has no significant impact on the debt maturity choice. We document also that … debt maturity is positively related to asset maturity and leverage. The portion of long-term debt decreases with growth …
Persistent link: https://www.econbiz.de/10010817009
Persistent link: https://www.econbiz.de/10010866267
Persistent link: https://www.econbiz.de/10009587448
(leverage) and the term of the debt contract (debt maturity). However, little is known about the theoretical interdependence … between leverage and debt maturity. Furthermore, leverage and debt maturity are treated independently in most empirical … between leverage and debt maturity in both the Australia and the US capital markets. Our theoretical model, which builds upon …
Persistent link: https://www.econbiz.de/10009448678
This paper explores the determinants of debt maturity for a sample of 3306 non-financial listed firms from thirteen … opportunities, size, tax, firm value volatility, quality, rating, assets maturity and leverage. The model also includes independent … of firm-level variables on firm debt maturity, with the exception of tax and growth opportunities. The results also …
Persistent link: https://www.econbiz.de/10010949335
We study to what extent firms spread out their debt maturity dates across time, which we call granularity of corporate … single large one, firms may diversify debt rollovers across maturity dates. We construct granularity measures using data on … in granularity in that many firms have either very concentrated or highly dispersed maturity structures. Second, our …
Persistent link: https://www.econbiz.de/10010958706
We examine the empirical determinants of debt-maturity structure of 266 firms listed on the KSE over the period 2000 to … influence on debt-maturity structure. Our results lend unambiguous support to the maturity-matching hypothesis as debt-maturity … varies inversely with operating activities and directly with the maturity of long-lived assets. Finally, we find evidence …
Persistent link: https://www.econbiz.de/10010547068
This paper investigates the determinants of liability maturity choice in emerging markets using a unique panel of 4 … and unconstrained companies react dierently on liquidity risk and, hence, pursue diferent debt maturity strategies. …
Persistent link: https://www.econbiz.de/10008728127