Corporate pensions and the maturity structure of debt

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Artículos Artículos Corporate pensions and the maturity structure of debt - Lin, Yijia

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Título: Corporate pensions and the maturity structure of debt / Yijia Lin, Sheen Liu, Jifeng Yu

Autor: Lin, Yijia Icono con lupa

Descripción física: 36 p.

Notas: Sumario: In this article, we investigate the role of pension obligations, the most significant off-balance-sheet item, in determining corporate debt maturity and spreads.We begin by showing a significant and robust positive relationship between pension liabilities and corporate short-term debt ratio.We also find that more pension obligations cause a significant increase in the cost of debt, but this effect is mitigated by short-maturity debt. Overall, our study shows that short-term debt can reduce asymmetric information costs related to pensions.

Autores secundarios: Liu, Sheen Icono con lupa
Yu, Jifeng Icono con lupa

Otras clasificaciones: 345

Derechos: In Copyright (InC): http://rightsstatements.org/vocab/InC/1.0/

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