ISSN:
1573-7179
Keywords:
maturity
;
bank debt
;
contract-cost hypothesis
;
tax hypothesis
;
signaling hypothesis
Source:
Springer Online Journal Archives 1860-2000
Topics:
Economics
Notes:
Abstract This study presents important international evidence by examining the determinants of debt maturity of listed firms in Singapore, a major financial center in Asia. We focus on bank debt because it is the principal source of financing for most Singapore firms. We find that consistent with the contracting-cost hypothesis, firms with greater growth opportunities rely more heavily on short-term bank debt whereas larger firms are more likely to use long-term bank debt. In contrast, we find no strong support for either the tax or signaling hypotheses.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1023/A:1008398308408
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