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Corporate culture and debt maturity

journal contribution
posted on 2025-01-23, 05:19 authored by Suzona AsadSuzona Asad, MM Hasan, B Qiu
AbstractThis study investigates the relationship between corporate culture and debt maturity structure. Utilizing a text‐based measure of corporate culture derived from a cutting‐edge machine learning approach, we uncover a strong positive link between corporate culture and short‐term debt usage. We further find that this relationship is particularly pronounced for firms with high information asymmetry and heightened financing constraints. We conduct several sensitivity analyses that confirm the robustness of our findings. Overall, the findings enhance our understanding of how corporate culture influences corporate financing decisions.

History

Journal

International Review of Finance

Pagination

1-32

Location

Chichester, Eng.

ISSN

1369-412X

eISSN

1468-2443

Language

Eng

Publication classification

C4 Letter or note

Publisher

Wiley