This paper provides empirical evidence of a clientele effect between institutional holdings and debt maturity structure …. Using a new measure of debt maturity that captures the refinancing and underinvestment risks associated with the timing of … cash flows, I find that institutional equity holders prefer to invest in firms with long debt maturity, and hence low …

display higher default risk. We identify a factor that determines this build-up of risk: specifically, debt maturity …

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 paper examines the determinants of debt maturity structure in listed small and medium enterprises in Vietnam from … 2010 to 2019. Agency cost theory, signaling theory, tax-based theory, and matching theory are discussed as platform … theories for determining the factors affecting corporate debt maturity structure. Based on those theories and previous research …

We show that firms’ debt maturity structure plays an important role in investment above and beyond that of leverage …. Firms with a longer debt maturity structure tend to invest more. These results are stronger for firms with high leverage …, profitability, and growth potential. We rationalize our results in a model in which debt maturity structure is determined by the …