The Maturity Structure of Corporate Debt

We provide an empirical examination of the determinants of corporate debt maturity. Our evidence offers strong support for the contracting-cost hypothesis. Firms that have few growth options, are large, or are regulated have more long-term debt in their capital structure. We find little evidence tha...

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Veröffentlicht in:	The Journal of finance (New York) 1995-06, Vol.50 (2), p.609-631
Hauptverfasser:	BARCLAY, MICHAEL J., SMITH JR, CLIFFORD W.
Format:	Artikel
Sprache:	eng
Schlagworte:	Bond issues Business structures Corporate debt Debt Debt contracts Debt financing Economic theory Financial instruments Financial investments Financial management Hypotheses Long term debt Maturity Maturity structure Public debt Regression analysis Short term debt Studies
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