Debt maturity structure and the 1997 Asian financial crisis

被引：41
|
作者：
Deesomsak, Rataporn [1 ]
Paudyal, Krishna [1 ]
Pescetto, Gioia [1 ]
机构：
[1] Univ Durham, Durham Business Sch, Ctr Empir Res Finance, Mill Hill Lane, Durham DH1 3LB, England
来源：
JOURNAL OF MULTINATIONAL FINANCIAL MANAGEMENT | 2009年 / 19卷 / 01期
关键词：
Debt maturity structure; Asia Pacific region; Financial crisis;
D O I：
10.1016/j.mulfin.2008.03.001
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
The paper investigates the effects of firm-specific and countryspecific 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. (C) 2008 Elsevier B.V. All rights reserved.
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页码：26 / 42
页数：17
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