UPM Institutional Repository

Corporate debt maturity structure: the role of firm level and institutional determinants in selected African countries


Citation

Etudaiye-Muhtar, Oyebola Fatima and Ahmad, Rubi and Tunde, Matemilola Bolaji (2017) Corporate debt maturity structure: the role of firm level and institutional determinants in selected African countries. Global Economic Review, 46 (4). 422 - 440. ISSN 1226-508X; ESSN: 1744-3873

Abstract

An appropriate debt maturity structure is essential for firms to enable them align asset structure to liabilities to prevent a mismatch. This study investigates the role of firm-level and institutional variables on debt maturity structure in selected African countries. Using panel generalised method of moment that addresses endogeneity problem; our findings reveal a dynamic process of adjustment to optimal debt maturity structure. Furthermore, firm-level variables (leverage, asset structure and firm size) provide support for the contracting cost, signalling and matching principle theories of debt maturity structure. Results of institutional variables suggest that better developed institutions promote long-term debt maturity structures.


Download File

[img] Text (Abstract)
DEBT.pdf
Download (5kB)

Additional Metadata

Item Type: Article
Divisions: Faculty of Economics and Management
DOI Number: https://doi.org/10.1080/1226508X.2017.1350589
Publisher: Routledge
Keywords: Debt maturity structure; Contracting cost; Matching principle; Rule of law; Regulatory quality
Depositing User: Ms. Nida Hidayati Ghazali
Date Deposited: 21 Jul 2021 10:39
Last Modified: 21 Jul 2021 10:39
Altmetrics: http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1080/1226508X.2017.1350589
URI: http://psasir.upm.edu.my/id/eprint/61235
Statistic Details: View Download Statistic

Actions (login required)

View Item View Item