We provide evidence on leverage and debt maturity targeting in a large international setting. There are key differences …

or expected growth rate of the firm's earnings. Debt maturity varies non-monotonically in a U-shaped manner with the … project's drift and with its volatility. The predicted variations of leverage and debt maturity with the actual drift of … leverage and debt maturity with project characteristics potentially reconcile empirical findings that are not consistent with …

formed and how they impact leverage and debt maturity choices. In the model, lending relationships evolve through repeated … longer term debt, and raise funds from non-relationship lenders when relationship quality is sufficiently high. The maturity …

maturity debt to short maturity debt, to avoid frequent monitoring by lenders, which creates conflict between controlling and … minority shareholders over the maturity structure of debt. In this paper, we examine whether the presence of multiple large … firms during the period 1998-2013, we find strong evidence that firms with MLS exhibit shorter debt maturity. This result …

I develop a dynamic model of financing decisions and optimal debt maturity choice in which creditors face adverse …-leverage firms eventually decide to issue debt. Because shorter maturity debt is less sensitive to information, younger firms issue … shorter maturity debt to alleviate adverse selection while mature firms issue longer maturity debt, leading to a life …

debt, and earnings ratio, determine the optimal choice of leverage and maturity. The model assumes that debt pays a regular … flow of interests, allows the firm to rebalance its optimal capital structure at maturity issuing new debt at par, links …

. However, using a simple two-period model with zero coupon debt and default possible only at maturity, ADHP prove two startling … contentions using an alternative model of debt, with rollover at a proportional rate m and average maturity = 1/m, introduced in … Leland (1994a). We show that when the average maturity of debt is substantially longer than 5 years, considerable further …

. However, using a simple two-period model with zero coupon debt and default possible only at maturity, ADHP prove two startling … contentions using an alternative model of debt, with rollover at a proportional rate m and average maturity = 1/m, introduced in … Leland (1994a). We show that when the average maturity of debt is substantially longer than 5 years, considerable further …

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 …

This study investigates the effects of political uncertainty (PU) on corporate debt maturity and leverage using a novel … measure of firm-specific PU. We find that PU is negatively associated with debt maturity and leverage. Furthermore, the … negative effects of PU on debt maturity and leverage are more pronounced for firms with greater investment reversibility and a …