Does managerial discretion affect debt maturity in Chilean firms? An agency cost and asymmetric information approach
We address debt maturity determinants for Chilean firms using data whose information was drawn from the Longitudinal Survey of Companies (ELE). Results from pooled Tobit regressions indicate that for firms with high growth opportunities, managerial discretion will encourage longer debt terms, a deci...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Universidad EAFIT
2016-12-01
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| Series: | Ecos de Economía |
| Online Access: | http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/3993/pdf |