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On Debt Maturities of Firms and Refinancing Risk: A Consideration of Heterogeneous Effects and Extreme Cases

Abstract

CAHIER DE RECHERCHE n°2014-02 E2This paper investigates the research question of whether the previously identified factors affect debt maturity choices of the short maturity firms in the same way as the long maturity firms. We find great disparities in the effects of conventional factors across the debt maturity distribution, especially for firms present at the lower and the upper percentiles....

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