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The Determinants of Debt Maturity: The Case of Bank Financing in Singapore

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  • Chen, Sheng-Syan
  • Ho, Kim Wai
  • Yeo, Gillian H H

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. Copyright 1999 by Kluwer Academic Publishers

Suggested Citation

  • Chen, Sheng-Syan & Ho, Kim Wai & Yeo, Gillian H H, 1999. "The Determinants of Debt Maturity: The Case of Bank Financing in Singapore," Review of Quantitative Finance and Accounting, Springer, vol. 12(4), pages 341-350, June.
  • Handle: RePEc:kap:rqfnac:v:12:y:1999:i:4:p:341-50
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    Cited by:

    1. Onur Kemal Tosun & Lemma W. Senbet, 2020. "Does internal board monitoring affect debt maturity?," Review of Quantitative Finance and Accounting, Springer, vol. 54(1), pages 205-245, January.
    2. Jamie Alcock & Frank Finn & Kelvin Jui Keng Tan, 2012. "The determinants of debt maturity in Australian firms," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 52(2), pages 313-341, June.
    3. Wu, Julia Yonghua & Opare, Solomon & Bhuiyan, Md. Borhan Uddin & Habib, Ahsan, 2022. "Determinants and consequences of debt maturity structure: A systematic review of the international literature," International Review of Financial Analysis, Elsevier, vol. 84(C).
    4. Oscar Domenichelli, 2017. "Agency Conflicts, Socioemotional Wealth, and the Debt Maturity Structure of Family Firms: A Critical Analysis," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(9), pages 40-51, September.

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