. As a new branch of capital structure, however, debt maturity structure has not yet received as much attention as the debt …-equity choice. We use the existing theories of corporate debt maturity to investigate the potential determinants of debt maturity of … explicitly control for the endogeneity problem. We find that the size of the firm, asset maturity and liquidity have significant …

This study provides new insights on the relationship between corporate debt maturity and agency costs by investigating … empirically the impact of managerial ownership and the divergence between control and cash-flow rights on debt maturity. A … significant negative effect of managerial ownership on debt maturity is observed. Moreover, the results reveal that the wedge …

This paper examines the impact of concentrated equity ownership (blockholders) on the corporate debt maturity structure … support for our hypothesis that debt maturity is a concave function of block ownership, which is likely a reflection of the … blockholders and the use of debt maturity to control for debt-equity and manager-equity conflicts …

This study investigates the effects of political uncertainty (PU) on corporate debt maturity and leverage using a novel … measure of firm-specific PU. We find that PU is negatively associated with debt maturity and leverage. Furthermore, the … negative effects of PU on debt maturity and leverage are more pronounced for firms with greater investment reversibility and a …

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 …

How do powerful unions affect firms' debt maturity structure? I find that firms increase the fraction of long term debt … channels consistent with a debt maturity structure reshaping rather than a strategic leverage increase. I find that financially … constrained, less flexible, and small firms exploit the positive effects of union's monitoring activity to lengthen their maturity …

I develop a dynamic capital structure model in which shareholders determine a firm's leverage ratio, debt maturity, and … all the firm's cash flows and can pick a new capital structure. The possibility to alter the capital structure at maturity … gives shareholders the incentive to issue finite maturity debt and allows me to study firms' joint choice of leverage and …