Detail publikace

The Determinants of Corporate Debt Maturity Structure: Evidence from Czech Firms

Autor: PhDr. Pavel Körner Ph.D.,
Typ: Články v impaktovaných časopisech
Rok: 2007
Číslo: 6
ISSN / ISBN: ISSN: 0015-1920
Publikováno v: Czech Journal of Economics and Finance, 57(3-4), pp. 142 - 158
Místo vydání: Praha
Klíčová slova: bank debt, bond debt, corporate debt maturity structure, long-term debt, short-term debt, transition economy
JEL kódy: G31, G32
Citace:
Abstrakt: 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.

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