Search

Showing total 1 results

Refine your results

1 results

1. Estructura de vencimiento de la deuda y riesgo de crédito en las empresas españolas.

Author

M. González, Víctor

Subjects
*DEBT, *BANKRUPTCY, *FINANCIAL risk, *DEFAULT (Finance), *LONG-term debt, *SHORT-term business financing, *BUSINESS finance
Abstract

This paper analyzes the relation between debt maturity structure and default risk. We use data on over 47,189 non-financial Spanish firms during the period 1995-2006. The results show that firms rated as low risk have more long-term debt. However, maturity is a non-monotonic function of risk ratings, with low risk firms and high risk firms having short-term debt and intermediate risk firms having long-term debt. [ABSTRACT FROM AUTHOR]

Published
2009