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Debt Maturity Structure and Credit Quality
We examine whether a firm?s debt maturity structure affects its credit quality. Consistent with theory, we find that firms with greater exposure to rollover risk (measured by the amount of long-term debt payable within a year relative to assets) have lower credit quality; long-term bonds issued by those firms trade at higher yield spreads, indicating that bond market investors are cognizant of rollover risk arising from a firm?s debt maturity structure. These effects are stronger among firms with a speculative-grade rating and declining profitability, and during recessions..Printed Journal
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| JFQA4904 | PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | Cambridge Cambridge University Press., |
|---|---|
| Edisi | - |
| Subjek | Credit quality Debt maturity structure firms |
| ISBN/ISSN | 221090 |
| Klasifikasi | - |
| Deskripsi Fisik | - |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |