Kirch, Guilherme; Terra, Paulo Renato Soares - In: Journal of Corporate Finance 18 (2012) 4, pp. 980-993
We test whether a country's level of financial development or institutional quality (or both) has a first‐order effect on corporate debt maturity decisions on a sample of 359 non-financial firms from five South American countries over a 12‐year period. We find that there is a substantial...