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When firms roll over bonds of different maturity, their debt-maturity structure can feature both shorter and longer … maturity in bad times. We link these debt-maturity patterns to the firms' fundamentals, assuming earnings are deterministically … via longer maturity. By contrast, the fraction of newly issued short-term debt is (weakly) procyclical in all paths. That …
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relation between a firm's debt maturity structure choice and its growth opportunities. Firms with high pre-pandemic exposure to … growth-inducing factors obtained from 10-K filings have increased debt maturity and are more likely to exercise a call on … to adjust their debt maturity structure. Further, the increase in debt maturity following exogenous changes in growth …
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This paper shows that the effect of inflation on asset prices and real aggregates depends on the financial intermediation sector. When firms finance using nominal long-term debt issued by financial intermediaries, unexpected changes in inflation lead to a wealth transfer across sectors. Higher...
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finding of the square measure of competition is supported by competition stability theory. However, this study also proved …
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-institutional theory and the concept of institutional entrepreneurship. The sustainability practices have been increasing in the social …
Persistent link: https://www.econbiz.de/10012860891