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Public Debt Markets in Central America, Panama, and the Dominican Republic
Jobst, Andreas; Valderrama, Laura; Guerra, Ivan; Shah, … - International Monetary Fund (IMF) - 2007
This paper-consisting of a regional study and seven country studies-reviews the state of domestic public debt markets in Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama as at end-2005. Although they account for the lion's share of capital markets, regional...
Persistent link: https://www.econbiz.de/10005825635
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Economic Growth and Integration in Central America
Schipke, Alfred; Desruelle, Dominique - International Monetary Fund (IMF) - 2007
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
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About Debt and the Option to Extend Debt Maturity
Realdon, Marco - Department of Economics and Related Studies, University …
Both borrowers and creditors often have an implicit option to extend debt maturity as the debtor approaches financial … contract in the hope that extending debt maturity may allow the debtor to overcome temporary liquidity problems. This paper … debtor extorts concessions (to extend debt maturity) from creditors and cases in which creditors make self interested …
Persistent link: https://www.econbiz.de/10005523998
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Market timing and the corporate debt maturity choice: the case of Tunisian and French firms
Bougatef, Khemaies; Chichti, Jameleddine - In: International Journal of Accounting and Finance 3 (2011) 2, pp. 131-146
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
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Does competition foster trust? The role of tournament incentives
Keck, Steffen; Karelaia, Natalia - In: Experimental Economics 15 (2012) 1, pp. 204-228
Persistent link: https://www.econbiz.de/10010866267
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Corporate Debt Maturity - An international comparison of firm debt maturity choices
Correia, Sandra; Brito, Paula; Brandão, Elísio - Faculdade de Economia, Universidade do Porto - 2014
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
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Granularity of corporate debt
Choi, Jaewon; Hackbarth, Dirk; Zechner, Josef - Center for Financial Studies - 2013
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
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Empirical Investigation of Debt-Maturity Structure: Evidence from Pakistan
Shah, Attaullah; Khan, Shahid Ali - In: The Pakistan Development Review 48 (2009) 4, pp. 565-578
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
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Corporate Debt Maturity Choice in Emerging Financial Markets
Stephan, Andreas; Talavera, Oleksandr; Tsapin, Andriy - Internationella Handelshögskolan, Högskolan i Jönköping - 2010
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
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Capital Structure Policies in Europe: Survey Evidence
Brounen, Brounen, D.; de Jong, de Jong, A.; Koedijk, … - Erasmus Research Institute of Management (ERIM), … - 2005
In this paper we present the results of an international survey among 313 CFOs on capital structure choice. We document several interesting insights on how theoretical concepts are being applied by professionals in the U.K., the Netherlands, Germany, and France and we directly compare our...
Persistent link: https://www.econbiz.de/10010837612