Publication detail

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

Author(s): PhDr. Pavel Körner Ph.D.,
Type: Articles in journals with impact factor
Year: 2007
Number: 6
ISSN / ISBN: ISSN: 0015-1920
Published in: Czech Journal of Economics and Finance, 57(3-4), pp. 142 - 158
Publishing place: Praha
Keywords: bank debt, bond debt, corporate debt maturity structure, long-term debt, short-term debt, transition economy
JEL codes: G31, G32
Suggested Citation:
Abstract: 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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