Starjournal Quotation Meyer, Renate, Jancsary, Dennis, Höllerer, Markus, Boxenbaum, Eva. 2018. The role of verbal and visual text in the process of institutionalization. Academy of Management Review. 43 (3), 1-27.


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Abstract

We study a novel aspect of a firm's capital structure, namely the profile of its debt maturity dates. In a simple theoretical framework we show that the dispersion of debt maturities constitutes an important dimension of capital structure choice, driven by firm characteristics and debt rollover risk. Guided by these predictions we establish two main empirical results. First, using an exogenous shock to rollover risk, we document a significant increase in maturity dispersion for firms that need to roll over maturing debt. Second, we find strong support that maturities of newly issued debt are influenced by pre-existing maturity profiles.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Academy of Management Review
Citation Index SSCI
WU Journalrating 2009 A+
Starjournal Y
Language English
Title The role of verbal and visual text in the process of institutionalization
Volume 43
Number 3
Year 2018
Page from 1
Page to 27
Reviewed? Y
DOI http://dx.doi.org/10.5465/amr.2014.0301
Open Access N

Associations

Projects
The visual dimension in organizing, organization, and organization research
The Impact of Material Artifacts and Visual Representations on the Institutionalization of Innovations
People
Meyer, Renate (Details)
Jancsary, Dennis (Details)
Höllerer, Markus (Details)
External
Boxenbaum, Eva (Mines ParisTech, France)
Organization
Urban Management and Governance (Meyer) (Details)
Institute for Public Management and Governance IN (Details)
Institute for Organization Studies IN (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5307 Business and management economics (Details)
5324 Organizational research (Details)
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