Journal article
Debt Maturity Structure and Firm Investment
Abstract
This study shows that the maturity structure of a firm's debt has a significant impact on its investment decisions. We show, after controlling for the effect of the overall level of leverage, that a higher percentage of long‐term debt in total debt significantly reduces investment for firms with high growth opportunities. In contrast, the correlation between debt maturity and investment is not significant for firms with low growth …
Authors
Aivazian VA; Ge Y; Qiu J
Journal
Financial Management, Vol. 34, No. 4, pp. 107–119
Publisher
Wiley
Publication Date
December 2005
DOI
10.1111/j.1755-053x.2005.tb00120.x
ISSN
0046-3892