We provide evidence on leverage and debt maturity targeting in a large international setting. There are key differences …

This paper investigates the impact of labor protection on corporate debt maturity structure. We hypothesize that … stronger labor protection is conducive to a greater use of short-term debt maturity by firms. Using various country … maturity structure of corporate debt over-and-above economic, legal, and political factors identified in prior research …

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 …

This paper investigates whether and how economic policy uncertainty affects corporate debt maturity. Using a large firm … a shortened debt maturity. Moreover, the impacts are stronger for innovation-intensive firms. We use firms’ flexibility … in changing debt maturity and the deviation to leverage target to gauge the causal relationship, and identify the reduced …

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 …

This paper investigates whether and how economic policy uncertainty affects corporate debt maturity. Using a cross … uncertainty is significantly associated with a shortened debt maturity. Specifically, a 1% increase in economic policy uncertainty … is associated with a 0.22% decrease in the long-term debt-to-assets ratio and a 0.08% decrease in debt maturity. Moreover …

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 …

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 …