A Theory of Debt Maturity: The Long and Short of Debt Overhang
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Booth School of Business, University of Chicago, and NBER. The authors gratefully acknowledge research support from the Center for Research in Security Prices at Chicago Booth. Diamond gratefully acknowledges support from the Nation Science Foundation. We thank two referees, seminar participants at MIT Sloan, OSU Fisher, Chicago Booth, Columbia, Yale, Harvard, UCLA, NBER 2010 Corporate Finance meeting in Chicago, AFA 2011 in Denver, Nittai Bergman, Hui Chen, Gustavo Manso, Gregor Matvos, Victoria Ivashina, Henri Pages, Raghu Rajan, Berk Sensoy, Jeremy Stein, Rene Stulz, Sheridan Titman and especially Stewart Myers and Charles Kahn for insightful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.