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The Impact of Liquidity on Debt Maturity After a Financial Crisis: Evidence from the Gulf Cooperation Council Region

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  • Karim Mimouni
  • Akram Temimi
  • Mohamed Goaied
  • Rami Zeitun

Abstract

This article contributes to the existent literature on corporate debt maturity by studying a new channel through which firms may mitigate the effects of a major economic downturn such as the 2008 global financial crisis. More specifically, using a sample of 208 listed firms in the Gulf Cooperation Council (GCC) region, we find that an increase in firms’ current ratios after the crisis is associated with an increase in long-term financing. We also find that a financially constrained firm can still access long-term financing if its current ratio after the crisis is beyond a specific threshold. Additionally, we highlight the differences in the typical drivers of debt structure between GCC countries and industries.

Suggested Citation

  • Karim Mimouni & Akram Temimi & Mohamed Goaied & Rami Zeitun, 2019. "The Impact of Liquidity on Debt Maturity After a Financial Crisis: Evidence from the Gulf Cooperation Council Region," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 55(1), pages 181-200, January.
    • Handle: RePEc:mes:emfitr:v:55:y:2019:i:1:p:181-200
    DOI: 10.1080/1540496X.2018.1425835
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    Cited by:

    1. Hafezali Iqbal Hussain & Mohd Farid Shamsudin & Shahrullizuannizam Salehuddin & Noor H. Jabarullah, 2018. "Debt Maturity and Shari'ah Compliance: Evidence from Malaysian Panel Data," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 176-186.

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