Debt maturity: What do economists say? What do CFOs say?
AbstractMitchell Berlin discusses recent theories of how firms choose their debt maturity. Some of these theories are very useful for explaining how chief financial officers (CFOs) choose the maturity of their firms’ debt. However, CFOs seem to believe that they can predict future interest rates and time their borrowings accordingly, and this behavior fundamentally conflicts with most economic theories.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Philadelphia in its journal Business Review.
Volume (Year): (2006)
Issue (Month): Q1 ()
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- Javier J. Pérez & Rocío Prieto, 2014. "The structure of sub-natural public debt: Liquidity vs credit risk," Banco de Espaï¿½a Working Papers 1403, Banco de Espa�a.
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