The role of blockholders in the corporate debt maturity structure

Zheyao Pan, Kelvin Jui Keng Tan

Research output: Contribution to journalArticlepeer-review

Abstract

This paper examines the impact of blockholders on the corporate debt maturity structure within the framework of agency theory. Using a novel and hand-collected dataset in Australia, we find support for our hypothesis that debt maturity is a concave function of block equity ownership. Our findings contribute to empirical evidence on the monitoring effects of blockholders and the use of debt maturity to control for debt-equity and manager-equity conflicts.
Original languageEnglish
Article number108740
Pages (from-to)1-3
Number of pages3
JournalEconomics Letters
Volume185
DOIs
Publication statusPublished - 1 Dec 2019

Keywords

  • Agency costs
  • Blockholders
  • Debt maturity

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