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

We study a novel aspect of a firm's capital structure, namely the profile of its debt maturity dates. In a simple … results. First, using an exogenous shock to rollover risk, we document a significant increase in maturity dispersion for firms … pre-existing maturity profiles …

prior to issuing additional debt. For realistic values of issuance costs and debt maturity, the no-commitment policy …

I provide novel evidence that institutional investors, by influencing the maturity structure of corporate debt, play an …

The business cycle dynamics of firms' investment and debt maturity vary across the firm size and age distribution …: Young and small firms have strongly pro-cyclical debt maturity and investment, old and large firms a-cyclical debt maturity … and weakly pro-cyclical investment. This paper explores the importance of firms' debt maturity choices for their …

homogeneous or compete more aggressively. Moreover, we find that firms with shorter-maturity debt are less aggressive than their …

How do firms manage debt maturity in the presence of investment opportunities? I document empirically that US … corporations lengthen their average maturity of debt when output and investment rates are larger. To explain these findings, I …

We propose a simple idea that corporate debt maturity should serve as a good indicator of future firm performance … debt maturity. If “observable” corporate debt maturity and ex ante “unobservable” corporate risk-taking is highly … correlated, corporate debt maturity should be highly correlated with “ex post” realized firm performance volatility in following …