Publication:
The effect of sentiment on corporate debt maturity

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Date

2021

Authors

Martinez Sorondo, Jon

Publisher

Acceso abierto / Sarbide irekia
Trabajo Fin de Grado / Gradu Amaierako Lana

Project identifier

Abstract

This final degree work attempts to establish a relationship between sentiment and debt maturity, two widely known concepts in business. Both have always been studied separately although previous studies could provide some clue about an actual link between them. 150 non-financial firms belonging to six of the strongest markets have been studied for the 2008-2017 period. A fixed effects regression has been carried out in order to examine our sample (represented as panel data). Results reject the hypothesis of a non-existent relationship between sentiment and debt maturity. Similarly, firm characteristics prove to shape this connection, where the overall effect of sentiment on maturity differs depending on the firm typology. Further studies are needed for a broad and more precise understanding of the influence of each firm characteristics.

Keywords

Sentiment, Debt maturity, Firm, Firm characteristics, Optimism, Size, Growth, Profitability, Consumer, Investor, PCA, Interaction

Department

Faculty/School

Facultad de Ciencias Económicas y Empresariales / Ekonomia eta Enpresa Zientzien Fakultatea

Degree

Graduado o Graduada en Administración y Dirección de Empresas por la Universidad Pública de Navarra (Programa Internacional), Enpresen Administrazio eta Zuzendaritzan Graduatua Nafarroako Unibertsitate Publikoan (Nazioarteko Programa)

Doctorate program

Editor version

Funding entities

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