Stephan, Andreas; Talavera, Oleksandr; Tsapin, Andriy - 2008
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 …