or expected growth rate of the firm's earnings. Debt maturity varies non-monotonically in a U-shaped manner with the … project's drift and with its volatility. The predicted variations of leverage and debt maturity with the actual drift of … leverage and debt maturity with project characteristics potentially reconcile empirical findings that are not consistent with …

We examine the determinants of debt maturity in the Australian capital market with the Top 400 firms listed on the … Australian Securities Exchange for the period 1989 to 2006. We find that Australian firms not only exhibit a positive leverage-maturity … and maturity can lead to erroneous conclusions about the support for the matching principle, the agency costs hypothesis …