haku: @author Paudyal, K. / yhteensä: 9
viite: 3 / 9
| Tekijä: | Antoniou, A. Guney, Y. Paudyal, K. |
| Otsikko: | The determinants of debt maturity structure: Evidence from France, Germany and the UK |
| Lehti: | European Financial Management
2006 : MAR, VOL. 12:2, p. 161-194 |
| Asiasana: | financial performance debt capital markets companies Europe |
| Kieli: | eng |
| Tiivistelmä: | In this study, the determinants of the debt maturity (hereafter as: d-m.) structure (here as: str.) of French, German and British firms are examined. Different financial and legal traditions are represented in these countries which may have implications on corporate d-m. str. In this study's model, included are the factors representing three major theories, that is: liquidity, tax considerations, and signalling, and contracting costs of d-m. Also, capital market conditions are controlled. The results confirm the applicability of most theories of d-m. str. for the U.K. firms. However, the evidence from France and Germany are mixed. Overall, the results suggest the d-m. str. to be determined by firm-specific factors and the country's financial systems and institutional traditions. |
SCIMA