Recently, debt structure research has started focusing on the strategic perspective of financing choices, particularly to understand the reasons for debt specialization (DS). This paper examines trends of specialization over time and industry by using a comprehensive dataset on types of debt...

This paper empirically investigates how the degree of debt specialization varies because of profitability levels, affecting the organizational determinants and debt structure choices. Using a novel data of 419 firms from 2009 to 2015, we find a significant difference in the usage of debt types...

The focus of capital structure research has now been diverted towards understanding the discriminating features of different debt instruments and explaining why to select a specific type of debt among different options? When companies predominantly borrow from fewer debt types, it is regarded as...