摘要：The study investigates the determinants of corporate debt maturity structure for a sample of 23 banks listed in the “Karachi Stock Exchange (KSE)”. This paper covers the six years period from 2005 to 2009. An overview of the theories related to the debt maturity structure of companies is presented in the literature review section. The practical section represents an econometric model that shows that long-term debt increases with asset maturity while decreases with company size and operating cycle. Tax rate was found to have a direct positive association with the maturity of debt in the pooled model but insignificant in the fixed effect. The impact of firm quality and leverage proved statistically insignificant.
关键词：Maturity structure of debt; Karachi stock exchange; stockholder; bondholder
