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This paper shows the relevance of the financial crisis on firm- and country-level determinants on debt maturity … structure for 39 countries during the period 1995-2012. Corporate debt maturity declined during the financial crisis. However …, the financial crisis had a positive effect on the corporate debt maturity of smaller firms. Cross-firm and cross …
Persistent link: https://www.econbiz.de/10013046579
This paper studies the effect of risk-taking incentives provided in managerial compensation on corporate debt maturity … and managerial risk-taking incentives. We find that treated firms significantly increased debt maturity relative to …
Persistent link: https://www.econbiz.de/10012931946
This paper documents to what extent firms from developing countries borrow short versus long term, using data on corporate bond and syndicated loan markets. Contrary to claims in the literature based on firm balance sheets, firms from developing countries borrow through bonds and syndicated...
Persistent link: https://www.econbiz.de/10012932449
leverage and debt maturity determine the sensitivity of firms' investment decisions to financial shocks. We show that the …
Persistent link: https://www.econbiz.de/10012933563
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We provide evidence on leverage and debt maturity targeting in a large international setting. There are key differences …
Persistent link: https://www.econbiz.de/10012628492
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This paper examines ways to summarize the maturity structure of public debts using a small number of parameters. We …) more accurately describes changes in debt maturity for these six countries and 2) gives a quite different interpretation of … historical debt maturity. Our work can be applied not just to analyze past debt movements, but - because parameter estimates are …
Persistent link: https://www.econbiz.de/10012604796