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Market timing and the corporate debt maturity choice: the case of Tunisian and French firms

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  • Khemaies Bougatef
  • Jameleddine Chichti

Abstract

This paper aims to investigate the determinants of corporate debt maturity structure using a panel of Tunisian and French listed firms. Specifically, we focus on the relevance of market timing considerations on the choice between short- and long-term debts. We find that market timing has no significant impact on the debt maturity choice. We document also that debt maturity is positively related to asset maturity and leverage. The portion of long-term debt decreases with growth opportunities, profitability and size.

Suggested Citation

  • Khemaies Bougatef & Jameleddine Chichti, 2011. "Market timing and the corporate debt maturity choice: the case of Tunisian and French firms," International Journal of Accounting and Finance, Inderscience Enterprises Ltd, vol. 3(2), pages 131-146.
    • Handle: RePEc:ids:intjaf:v:3:y:2011:i:2:p:131-146
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