Managerial Stock Ownership And The Maturity Structure of Corporate Debt  

Oleh:

Datta, Sudip ; Raman, Kartik ; Iskandar-Datta, Mai

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 60 no. 5 (Oct. 2005), page 2333-2352.
Topik: OWNERSHIP; studies; corporate debt; executives; stockholders; correlation analysis
Fulltext: p 2333.pdf (101.22KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study documents that managerial stock ownership plays an improtant role in determining corporate debt maturity. Controlling for previously identified determinants of debt maturity and modeling leverage and debt maturity as jointly endogenous, we document a significant and robust inverse relation between managerial stock ownership and corporate debt maturity. We also show that managerial stock ownership influences the relation between credit quality and debt maturity and between growth opportunities and debt maturity.

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