We build a dynamic capital structure model to study the link between systematic risk exposure and debt maturity, as … the maturity structure. Relative to short-term debt, long-term debt is less prone to rollover risks, but its illiquidity … favour longer debt maturity, as well as a more stable maturity structure over the business cycle. Pro-cyclical debt maturity …

The purpose of this study is to examine the relationship between credit rating scales and debt maturity choices. A … estimation techniques are also used for robust evidence. Results suggest that companies with high and low ratings have a shorter … debt maturity. Companies with medium ratings have longer debt maturity structure. Liquidity shows a negative association …