Corporate pensions and the maturity structure of debt

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Coleção: Artigos
Título: Corporate pensions and the maturity structure of debt / Yijia Lin, Sheen Liu, Jifeng Yu
Autor: Lin, Yijia
Descrição 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. 315-350
Materia / lugar / evento: Gerencia de riesgos Inversiones Planes de pensiones de empresa Análisis de riesgos
Autores secundários: Liu, Sheen
Yu, Jifeng
Outras classificações: 345
Direitos: In Copyright (InC): http://rightsstatements.org/vocab/InC/1.0/
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