Study On The Impact Of Corporate Governance Over The Debt Maturity Structure

Every enterprise must face the issue of how to choose the debt maturity structure in the financial decision-making. The debt maturity structure is related to the cost of corporate debt, debt repayment plans and agency costs. The poor choice might bring a serious financial crisis. In recent years, some Chinese scholars began to study the debt maturity structure from the angle of corporate governance. But the conclusion of the study is not consistent because of the research methodology and limitation of data selection, and their research angle is limited to a particular aspect of corporate governance. This article attempts to explore the relationship between them from a more comprehensive angle.In this paper, we first make a comprehensive summary of the study of debt maturity structure in recent years and pay more attention to the study of corporate governance and the debt maturity structure. Then we analyze the origin of the theory of corporate governance and debt maturity structure choice in a systematic way. The empirical tests are made under current situation of china in the fourth chapter, finally the study find a close relationship between corporate governance and the choice of debt maturity structure, and most of the research findings have been confirmed. According to the findings of the study, we give a number of policies to coordinate the link of corporate governance and debt maturity structure.