Accruals Quality and Debt Maturity Structure

Pedro J. García‐teruel, Pedro Martínez‐solano and Juan P. Sánchez‐ballesta

Abacus, 2010, vol. 46, issue 2, 188-210

Abstract: In this paper we use panel data and GMM estimation to examine the effect of accounting quality on debt maturity structure in a bank‐based financial system and show that, even after controlling for unobservable heterogeneity, endogeneity, variables reflecting operating volatility and the cost of debt, firms with poor accounting quality face a shorter debt term than firms with higher accounting quality. This association between accounting quality and debt maturity is consistent with accounting quality as a means of reducing information asymmetry problems and improving the monitoring of managers.

Date: 2010
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https://doi.org/10.1111/j.1467-6281.2010.00312.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:abacus:v:46:y:2010:i:2:p:188-210

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