TY - JOUR
T1 - The determinants of debt maturity structure: evidence from the Asia Pacific region
AU - Deesomsak, R.
AU - Paudyal, K.
AU - Pescetto, Gioia
PY - 2009/2
Y1 - 2009/2
N2 - The paper investigates the effects of firm-specific and country-specific characteristics, and the 1997 Asian financial crisis on the debtmaturity structure of firms in the Asia Pacific region. The results indicate that firms in this region have a target optimal debtmaturity structure, and the maturity structure decision of a firm is driven by both its own characteristics and the economic environment. They also reveal that the crisis had significant effect on firm's debtmaturity structure and their determinants.
AB - The paper investigates the effects of firm-specific and country-specific characteristics, and the 1997 Asian financial crisis on the debtmaturity structure of firms in the Asia Pacific region. The results indicate that firms in this region have a target optimal debtmaturity structure, and the maturity structure decision of a firm is driven by both its own characteristics and the economic environment. They also reveal that the crisis had significant effect on firm's debtmaturity structure and their determinants.
U2 - 10.1016/j.mulfin.2008.03.001
DO - 10.1016/j.mulfin.2008.03.001
M3 - Article
SN - 1042-444X
VL - 19
SP - 26
EP - 42
JO - Journal of Multinational Financial Management
JF - Journal of Multinational Financial Management
IS - 1
ER -