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Debt maturity structure and the 1997 Asian financial crisis

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  • Deesomsak, Rataporn
  • Paudyal, Krishna
  • Pescetto, Gioia

Abstract

The paper investigates the effects of firm-specific and country-specific characteristics, and the 1997 Asian financial crisis on the debt maturity structure of firms in the Asia Pacific region. The results indicate that firms in this region have a target optimal debt maturity 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 debt maturity structure and their determinants.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Multinational Financial Management.

Volume (Year): 19 (2009)
Issue (Month): 1 (February)
Pages: 26-42

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Handle: RePEc:eee:mulfin:v:19:y:2009:i:1:p:26-42

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Web page: http://www.elsevier.com/locate/mulfin

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Keywords: Debt maturity structure Asia Pacific region Financial crisis;

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Citations

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Cited by:
  1. Diego Saravia, 2013. "Vulnerability, Crisis and Debt Maturity: Do IMF Interventions Shorten the Length of Borrowing?," Working Papers Central Bank of Chile 697, Central Bank of Chile.
  2. Patricio Valenzuela, 2013. "Rollover risk and corporate bond spreads," Documentos de Trabajo 300, Centro de Economía Aplicada, Universidad de Chile.
  3. Amanda E. Willsey & Dona Siregar, 2012. "The Effects Of The 2008-2009 Financial Crisis On U.S. Corporate Debt Structure," New York Economic Review, New York State Economics Association (NYSEA), vol. 43(1), pages 16-32.

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