The impact of organizational capital on corporate debt maturity structure choices

Iman Charkhchi, Francesca Toscano and Viet Tran

Economics Letters, 2025, vol. 255, issue C

Abstract: We examine the relationship between organizational capital and corporate debt maturity choices using a sample of U.S. public firms from 1990 to 2017. Our findings show that firms with higher organizational capital prefer shorter debt maturities. This positive effect is consistent over time and remains robust even after accounting for firm-specific, macroeconomic factors, and alternative definitions of our variable of interest. Cross-sectional analyses show that the effect of organizational capital is magnified in fast-growing firms but moderated in firms experiencing financial distress.

Keywords: Organizational capital; Debt maturity choice; Intangible asset (search for similar items in EconPapers)
JEL-codes: G30 G32 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:255:y:2025:i:c:s0165176525003969

DOI: 10.1016/j.econlet.2025.112559

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