The Debt Maturity Structure of Small Firms in a Creditor Oriented Environment

Creditor Rights and Corporate Debt Structure∗

Much of our understanding of creditor rights is based on the notion that better enforcement of contracts reduces borrowing costs, thereby relaxing financial constraints. But what if these rights are too strong? We empirically investigate this question by examining the effect of a securitization reform that strengthened secured creditors rights on corporate debt structure. Strikingly, we find th...

the role of thematic structure in comprehending spoken language

in fact this study is concerned with the relationship between the variation in thematice structure and the comprehension of spoken language. so the study focused on the following questions: 1. is there any relationship between thematic structure and the comprehension of spoken language? 2. which of the themes would have greated thematic force and be easier for the subjects to comprehend? accord...

Institutions, Financial Markets, and Firms' Choice of Debt Maturity

the effects of changing roughness on the flow structure in the bends

flow in natural river bends is a complex and turbulent phenomenon which affects the scour and sedimentations and causes an irregular bed topography on the bed. for the reason, the flow hydralics and the parameters which affect the flow to be studied and understand. in this study the effect of bed and wall roughness using the software fluent discussed in a sharp 90-degree flume bend with 40.3cm ...

Risk aversion and debt maturity structure

We study the relationship of risk aversion and debt maturity structure. In a model in which adverse selection in financial markets creates a role for the use of short-term debt, we allow the possibility of borrowers being risk-averse. This creates a trade-off between reduced expected financing costs and higher risk and allows for the study of the effect of risk aversion on optimal maturity stru...