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Cited by 304

The DOI matches its Crossref record; 33 of the 33 references it cites were found in a registry or an index.

A Theory of Debt Maturity: The Long and Short of Debt Overhang

DIAMOND, DOUGLAS W., HE, ZHIGUO·2014·The Journal of Finance
DOI 10.1111/jofi.12118
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Abstract

Debt maturity influences debt overhang, the reduced incentive for highly levered borrowers to make real investments because some value accrues to debt. Reducing maturity can increase or decrease overhang even when shorter term debt's value depends less on firm value. Future overhang is more volatile for shorter term debt, making future investment incentives volatile and influencing immediate investment incentives. With immediate investment, shorter term debt typically imposes lower overhang; longer term debt can impose less if asset volatility is higher in bad times. For future investments, reduced correlation between assets‐in‐place and investment opportunities increases the shorter term debt overhang.

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Registry

Crossref · 10.1111/jofi.12118

Cites

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Metadata

Authors
DIAMOND, D. W., & HE, Z.
Venue
The Journal of Finance
Publisher
Wiley
Published
2014-03-17
Volume
69
Issue
2
Pages
719-762
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/jofi.12118
OpenAlex
W2595255354
Cited by
304
References
33
FWCI
42.96
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: A Theory of Debt Maturity: The Long and Short of Debt Overhang. https://app.cochat.ai/papers/10.1111/jofi.12118
The paper
DIAMOND, D. W., & HE, Z. (2014). A Theory of Debt Maturity: The Long and Short of Debt Overhang. The Journal of Finance. https://doi.org/10.1111/jofi.12118

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.