"We argue that time-series variation in the maturity of aggregate corporate debt issues arises because firms behave as … macro liquidity providers, absorbing the large supply shocks associated with changes in the maturity structure of government …

This paper investigates the determinants of liability maturity choice in transition markets. We formulate a model of …, signaling, maturity matching, and agency costs for the liability term structure of firms operating in a transition economy. In … addition, we find that companies do not react uniformly to determinants of debt maturity. Firms that mainly rely on external …

. I find that when a large portion of their market is threatened, incumbents significantly increase debt maturity before …