This study provides new insights on the relationship between corporate debt maturity and agency costs by investigating … empirically the impact of managerial ownership and the divergence between control and cash-flow rights on debt maturity. A … significant negative effect of managerial ownership on debt maturity is observed. Moreover, the results reveal that the wedge …

Corporate debt maturity is a concave function of financial leverage when the debt has restrictive asset-based covenants …) to reduce the probability of covenant violation. We also find that maturity-leverage concavity is reduced when executive …