The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Debt Maturity Structure and Liquidity Risk
Abstract
This paper analyzes debt maturity structure for borrowers with private information about their future credit rating. Borrowers' projects provide them with rents that they cannot assign to lenders. The optimal maturity structure trades off a preference for short maturity due to expecting their credit rating to improve, against liquidity risk. Liquidity risk is the risk that a borrower will lose the nonassignable rents due to excessive liquidation incentives of lenders. Borrowers with high credit ratings prefer short-term debt, and those with somewhat lower ratings prefer long-term debt. Still lower rated borrowers can issue only short-term debt.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
Credit Rationing in Markets with Imperfect Information
Stiglitz, J. E., & Weiss, A. (1981) · Columbia University · doi:10.7916/d8v12ft1 · Cited by 12,769
Optimal contracts and competitive markets with costly state verification
Townsend, R. M. (1979) · Journal of Economic Theory · doi:10.1016/0022-0531(79)90031-0 · Cited by 3,204
Cited by
A Survey of Corporate Governance
Shleifer, A., & Vishny, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb04820.x · Cited by 16,243
Firms, Contracts, and Financial Structure
Hart, O. (1995) · doi:10.1093/0198288816.001.0001 · Cited by 4,672
Trade Credit: Theories and Evidence
Petersen, M. A., & Rajan, R. G. (1997) · Review of Financial Studies · doi:10.1093/rfs/10.3.661 · Cited by 2,593
Private and Public Supply of Liquidity
Holmström, B., & Tirole, J. (1998) · Journal of Political Economy · doi:10.1086/250001 · Cited by 1,822
Covenants and collateral as incentives to monitor
RAJAN, R., & WINTON, A. (1995) · The Journal of Finance · doi:10.1111/j.1540-6261.1995.tb04052.x · Cited by 1,193
Metadata
- Authors
- Diamond, D. W.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1991-08-01
- Volume
- 106
- Issue
- 3
- Pages
- 709-737
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2087178224
- Cited by
- 1,801
- References
- 2
- FWCI
- 35.79
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: Debt Maturity Structure and Liquidity Risk. https://app.cochat.ai/papers/10.2307/2937924
- The paper
- Diamond, D. W. (1991). Debt Maturity Structure and Liquidity Risk. The Quarterly Journal of Economics. https://doi.org/10.2307/2937924
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.
