Exploring the determinants of corporate debt maturity: evidence from Tunisian market
by Nader Naifar
International Journal of Business and Emerging Markets (IJBEM), Vol. 2, No. 2, 2010

Abstract: The aim of this paper is to explore empirically the determinants of corporate debt maturity in the Tunisian context using a linear regression. The model incorporates factors representing firm's specific characteristics and equity market conditions. The findings provide the significance of asset maturity, growth opportunities, firm quality, return on asset, leverage and loans between firms. However, we find no evidence for the inverse relation between growth opportunities and debt maturity. Furthermore, we find no evidence that equity market conditions affect debt maturity structure. The paper has several practical implications that are of value for policy makers, investors and risk managers.

Online publication date: Thu, 18-Feb-2010

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