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 …

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 …

maturity. We find that in the absence of financing constraints short-term debt maximizes firm value. In contrast with most … revenues, issuing long term debt that expires after the investment option maturity. This effect, which is due to the option …

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 …

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 …

The article analyzes the impact of debt maturity structure and other factors on investment decisions of enterprises … database. S-GMM regression method is utilised to analyze the influence of debt maturity structure and other factors on … investment decisions of listed companies. The analysis results shows that the debt maturity structure has a positive impact on …

Evidence shows that firms market time their debt maturity. Specifically, maturity is found to be inversely proportional … the term spread is large and they increase maturity as the term spread decreases. In this article, we build a model … explaining the market timing phenomenon using the trade-off theory of capital structure. Our explanation relies on the balance …

-cycle theory of debt maturity …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 …

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 …