Centro de Documentacion de Fundación MAPFRE - Corporate pensions and the maturity structure of debt

Descripción física: 36 p.Notas: Sumario: In this article, we investigate the role of pension obligations, the most significant off-balance-sheet item, in determining corporate debt maturity and spreads.We begin by showing a significant and robust positive relationship between pension liabilities and corporate short-term debt ratio.We also find that more pension obligations cause a significant increase in the cost of debt, but this effect is mitigated by short-maturity debt. Overall, our study shows that short-term debt can reduce asymmetric information costs related to pensions.Registros relacionados: En: The Journal of risk and insurance. - Nueva York : The American Risk and Insurance Association, 1964- = ISSN 0022-4367. - 03/06/2019 Volumen 86 Número 2 - junio 2019 , p. 315-350Materia / lugar / evento: Gerencia de riesgos Inversiones Planes de pensiones de empresa Análisis de riesgos Otros autores: Liu, Sheen
Yu, Jifeng
Otras clasificaciones: 345

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