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Volume 57, Issue 3 -4

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The Determinants of Corporate Debt Maturity Structure: Evidence from Czech Firms

K├Ârner, Pavel

Year: 2007   Volume: 57   Issue: 3 -4   Pages: 142-158

Abstract: This paper investigates the determinants of the maturity structure of Czech corporate debt. A theoretical section provides an overview of contemporary theories on corporate debt maturity structure. An empirical section describes an econometric model that shows that long-term debt increases with company size and leverage and asset maturity. The impact of growth options, collateralizable assets, corporate-tax rate, and company-level volatility proves statistically insignificant. Finally, the paper discusses the limitations of the results in terms of data, variables, and determinants.

JEL classification: G31, G32

Keywords: bank debt, bond debt, corporate debt maturity structure, long-term debt, short-term debt, transition economy

DOI:

RePEc: http://ideas.repec.org/a/fau/fauart/v57y2007i3-4p142-158.html

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