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The Determinants of Corporate debt maturity: a study on listed companies of Bombay Stock Exchange 500 index

Author

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  • Raveesh Krishnankutty
  • K.S. Chakraborty

Abstract

The study was intented to identify the determinants of the debt maturity structure of listed firms in Bombay Stock Exchange 500 index. For the analysis we have taken 321 firms during the period 2002- 2011, comprising of a panel model with fixed effects. We also used GMM (1991) and GMM (1998) estimates of our analysis. The result of robustness tests confirms that past year debt maturity, leverage and growth opportunities are directly determined the debt maturity of Indian firms. Liquidity, effective tax and rate prime lending rate are negatively determining the debt maturity of Indian companies.

Suggested Citation

  • Raveesh Krishnankutty & K.S. Chakraborty, 2014. "The Determinants of Corporate debt maturity: a study on listed companies of Bombay Stock Exchange 500 index," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 17(51), pages 67-90, March.
    • Handle: RePEc:rej:journl:v:17:y:2014:i:51:p:67-90
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    debt maturity; panel data; GMM; Indian companies; fixed effect;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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