The Determinants of Corporate Debt Maturity Structure: Evidence from Czech Firms
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
RePEc: http://ideas.repec.org/a/fau/fauart/v57y2007i3-4p142-158.html
Attachment [PDF] | Print Recommend to others |