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 …

I develop a dynamic capital structure model in which shareholders determine a firm's leverage ratio, debt maturity, and … all the firm's cash flows and can pick a new capital structure. The possibility to alter the capital structure at maturity … gives shareholders the incentive to issue finite maturity debt and allows me to study firms' joint choice of leverage and …

Evidence shows that firms market time their debt maturity. Specifically, maturity is found to be inversely proportional … the term spread is large and they increase maturity as the term spread decreases. In this article, we build a model … transaction costs. Firms reduce debt maturity as it lowers bankruptcy probability. In the same spirit, firms increase maturity to …

In a dynamic framework, this paper studies a firm’s optimal capital structure choice in terms of the maturity and call … generally find that finite maturity is optimal …

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 …

This study re-examines the impact of asset maturity on debt maturity choices. The pertinent literature suffers from the … fact that asset maturity typically is hard to observe. In this paper we exploit the fact that for energy utilities asset … maturity can directly be measured. Using a sample of 193 energy utility companies in the period 2002 to 2009 we first show that …