Corporate debt maturity structure: the role of firm level and institutional determinants in selected African countries
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...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Routledge
2017
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| Online Access: | http://psasir.upm.edu.my/id/eprint/61235/1/DEBT.pdf |
| _version_ | 1796977434088701952 |
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| author | Etudaiye-Muhtar, Oyebola Fatima Ahmad, Rubi Tunde, Matemilola Bolaji |
| author_facet | Etudaiye-Muhtar, Oyebola Fatima Ahmad, Rubi Tunde, Matemilola Bolaji |
| author_sort | Etudaiye-Muhtar, Oyebola Fatima |
| collection | UPM |
| description | 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. |
| first_indexed | 2024-03-06T09:40:04Z |
| format | Article |
| id | upm.eprints-61235 |
| institution | Universiti Putra Malaysia |
| language | English |
| last_indexed | 2024-03-06T09:40:04Z |
| publishDate | 2017 |
| publisher | Routledge |
| record_format | dspace |
| spelling | upm.eprints-612352021-07-21T10:39:21Z http://psasir.upm.edu.my/id/eprint/61235/ Corporate debt maturity structure: the role of firm level and institutional determinants in selected African countries Etudaiye-Muhtar, Oyebola Fatima Ahmad, Rubi Tunde, Matemilola Bolaji 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. Routledge 2017 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/61235/1/DEBT.pdf 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 https://www.tandfonline.com/doi/abs/10.1080/1226508X.2017.1350589 10.1080/1226508X.2017.1350589 |
| spellingShingle | Etudaiye-Muhtar, Oyebola Fatima Ahmad, Rubi Tunde, Matemilola Bolaji Corporate debt maturity structure: the role of firm level and institutional determinants in selected African countries |
| title | Corporate debt maturity structure: the role of firm level and institutional determinants in selected African countries |
| title_full | Corporate debt maturity structure: the role of firm level and institutional determinants in selected African countries |
| title_fullStr | Corporate debt maturity structure: the role of firm level and institutional determinants in selected African countries |
| title_full_unstemmed | Corporate debt maturity structure: the role of firm level and institutional determinants in selected African countries |
| title_short | Corporate debt maturity structure: the role of firm level and institutional determinants in selected African countries |
| title_sort | corporate debt maturity structure the role of firm level and institutional determinants in selected african countries |
| url | http://psasir.upm.edu.my/id/eprint/61235/1/DEBT.pdf |
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