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The Debt Maturity Choice: An Empirical Investigation

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  • Karlyn Mitchell

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  • Karlyn Mitchell, 1993. "The Debt Maturity Choice: An Empirical Investigation," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 16(4), pages 309-320, December.
    • Handle: RePEc:bla:jfnres:v:16:y:1993:i:4:p:309-320
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    File URL: http://hdl.handle.net/10.1111/j.1475-6803.1993.tb00150.x
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    1. Robbins, Edward Henry & Schatzberg, John D, 1986. "Callable Bonds: A Risk-Reducing Signalling Mechanism," Journal of Finance, American Finance Association, vol. 41(4), pages 935-949, September.
    2. Jayant R. Kale & Thomas H. Noe, 1990. "Risky Debt Maturity Choice In A Sequential Game Equilibrium," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 13(2), pages 155-166, June.
    3. Kane, Alex & Marcus, Alan J. & McDonald, Robert L., 1985. "Debt Policy and the Rate of Return Premium to Leverage," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 20(4), pages 479-499, December.
    4. Harris, Milton & Raviv, Artur, 1990. "Capital Structure and the Informational Role of Debt," Journal of Finance, American Finance Association, vol. 45(2), pages 321-349, June.
    5. Fama, Eugene F, 1990. "Contract Costs and Financing Decisions," The Journal of Business, University of Chicago Press, vol. 63(1), pages 71-91, January.
    6. Brennan, Michael J & Schwartz, Edwardo S, 1978. "Corporate Income Taxes, Valuation, and the Problem of Optimal Capital Structure," The Journal of Business, University of Chicago Press, vol. 51(1), pages 103-114, January.
    7. Eckbo, B. Espen, 1986. "Valuation effects of corporate debt offerings," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 119-151.
    8. Wiggins, James B., 1990. "The Relation between Risk and Optimal Debt Maturity and the Value of Leverage," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 25(3), pages 377-386, September.
    9. Flannery, Mark J, 1986. "Asymmetric Information and Risky Debt Maturity Choice," Journal of Finance, American Finance Association, vol. 41(1), pages 19-37, March.
    10. Lewis, Craig M., 1990. "A Multiperiod Theory of Corporate Financial Policy under Taxation," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 25(1), pages 25-43, March.
    11. Jayant R. Kale & Thomas H. Noe, 1990. "Risky Debt Maturity Choice In A Sequential Game Equilibrium," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 13(2), pages 155-166, June.
    12. Brick, Ivan E. & Mellon, W. G. & Surkis, Julius & Mohl, Murray, 1983. "Optimal capital structure : A multi-period programming model for use in financial planning," Journal of Banking & Finance, Elsevier, vol. 7(1), pages 45-67, March.
    13. Mandelker, Gershon N. & Rhee, S. Ghon, 1984. "The Impact of the Degrees of Operating and Financial Leverage on Systematic Risk of Common Stock," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 19(1), pages 45-57, March.
    14. Brick, Ivan E & Ravid, S Abraham, 1985. "On the Relevance of Debt Maturity Structure," Journal of Finance, American Finance Association, vol. 40(5), pages 1423-1437, December.
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    Cited by:

    1. Suzan Hol & Nico van der Wijst, 2006. "The financing structure of non-listed firms," Discussion Papers 468, Statistics Norway, Research Department.
    2. Juan Carlos Gozzi & Ross Levine & Maria Soledad Martinez Peria & Sergio L. Schmukler, 2012. "How Firms Use Domestic and International Corporate Bond Markets," NBER Working Papers 17763, National Bureau of Economic Research, Inc.
    3. Memmel, Christoph & Gündüz, Yalin & Raupach, Peter, 2015. "The common drivers of default risk," Journal of Financial Stability, Elsevier, vol. 16(C), pages 232-247.
    4. Maurizio Rocca & Neha Neha & Tiziana Rocca, 2020. "Female management, overconfidence and debt maturity: European evidence," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 24(3), pages 713-747, September.
    5. Allen N. Berger & Marco A. Espinosa‐Vega & W. Scott Frame & Nathan H. Miller, 2005. "Debt Maturity, Risk, and Asymmetric Information," Journal of Finance, American Finance Association, vol. 60(6), pages 2895-2923, December.
    6. Faisal Seraj Alnori, 2023. "What do we Know about Corporate Debt Maturity Structure in Saudi Arabia?," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 13(6), pages 1-13.
    7. Emanuele Brancati & Marco Macchiavelli, 2020. "Endogenous debt maturity and rollover risk," Financial Management, Financial Management Association International, vol. 49(1), pages 69-90, March.
    8. Ovtchinnikov, Alexei V., 2016. "Debt decisions in deregulated industries," Journal of Corporate Finance, Elsevier, vol. 36(C), pages 230-254.
    9. Boubaker, Sabri & Chourou, Lamia & Haddar, Marwa & Hamza, Taher, 2019. "Does employee welfare affect corporate debt maturity?," European Management Journal, Elsevier, vol. 37(5), pages 674-686.
    10. Cai, Kailan & Fairchild, Richard & Guney, Yilmaz, 2008. "Debt maturity structure of Chinese companies," Pacific-Basin Finance Journal, Elsevier, vol. 16(3), pages 268-297, June.
    11. Lensink, Robert & Pham Thi Thu, Tra, 2006. "On signalling and debt maturity choice," Research Report 06E03, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    12. Pavel Körner, 2007. "The Determinants of Corporate Debt Maturity Structure: Evidence from Czech Firms (in English)," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 57(3-4), pages 142-158, June.
    13. Wu, Julia Yonghua & Opare, Solomon & Bhuiyan, Md. Borhan Uddin & Habib, Ahsan, 2022. "Determinants and consequences of debt maturity structure: A systematic review of the international literature," International Review of Financial Analysis, Elsevier, vol. 84(C).
    14. Fu, Richard & Subramanian, Ajay, 2011. "Leverage and debt maturity choices by undiversified owner-managers," Journal of Corporate Finance, Elsevier, vol. 17(4), pages 888-913, September.
    15. Marcos González-Fernández & Carmen González-Velasco, 2018. "Bond Yields, Sovereign Risk and Maturity Structure," Risks, MDPI, vol. 6(4), pages 1-25, September.
    16. repec:dgr:rugsom:06e03 is not listed on IDEAS
    17. Anjala Kalsie & Aishwarya Nagpal, 2018. "The Determinants of Corporate Debt Maturity for NSE-Listed Corporates," FIIB Business Review, , vol. 7(1), pages 43-56, March.
    18. Tesfaye T. Lemma & Ayalew Lulseged & Mohammad Tavakolifar, 2021. "Corporate commitment to climate change action, carbon risk exposure, and a firm's debt financing policy," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 3919-3936, December.

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