<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462022000300109</article-id>
<article-id pub-id-type="doi">10.21919/remef.v17i3.688</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Madurez de la deuda corporativa como variable de tiempo: evidencia de las empresas públicas de México]]></article-title>
<article-title xml:lang="en"><![CDATA[Maturity of Corporate Debt as a Time Variable: Evidence of Public Firms from Mexico]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Farfán Pérez]]></surname>
<given-names><![CDATA[Lianet]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Moreno]]></surname>
<given-names><![CDATA[Jorge O.]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Adamuz]]></surname>
<given-names><![CDATA[María de las Mercedes]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Autónoma de Nuevo León  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Autónoma de Nuevo León  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Instituto Tecnológico Autónomo de México  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>09</month>
<year>2022</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2022</year>
</pub-date>
<volume>17</volume>
<numero>3</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462022000300109&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462022000300109&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462022000300109&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo de esta investigación es identificar los determinantes de la madurez de la deuda para las empresas mexicanas que cotizan en la BMV, usando una definición alternativa de esta variable dependiente. En particular, se define la madurez como &#8220;tiempo para expiración del contrato&#8221; considerando el promedio ponderado del tiempo a vencimiento, contribución original del presente trabajo. Se utilizan modelos de datos panel y de selección de Heckman, pues el uso de datos longitudinales en un panel desbalanceado puede presentar problemas de selección en forma de atrición. Los resultados sugieren que el sesgo por atrición es significativo, y que la madurez promedio de la deuda está determinada por variables como tamaño y apalancamiento, entre otras característias de las empresas, así como la tasa de interés del mercado. Como principal limitación, se tienen las omisiones de datos de las fuentes de información utilizadas generando un panel corto y desbalanceado. Se concluye que al usar este método de medición de madurez se obtienen mejores resultados para analizar el plazo de vencimiento de la deuda, comparado con las métricas tradicionales en la literatura.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This research aims to determine the factors of debt maturity for Mexican companies listed on the BMV, using an alternative method to define the dependent variable. Maturity is defined as "time to contract expiration" considering the weighted average of the expiration time, which contributes to the originality of this work. Panel data models and the Heckman selection model are used, since working with an unbalanced longitudinal panel can present sample selection problems due to atrition. The results suggest that the attrition bias is significant, and that the average maturity of the debt is determined by firm characteristics such as size and leverage, among others, and the interest rate of the Mexican market. As a limitation and due to the omissions of data reported by the information sources used for the analysis, a short and unbalanced panel is used. It is concluded that, by using this maturity alternative measurement method, better results are obtained to analyze the maturity of the debt, compared to the traditional metrics in the literature.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Madurez de deuda]]></kwd>
<kwd lng="es"><![CDATA[estructura de capital]]></kwd>
<kwd lng="es"><![CDATA[determinantes]]></kwd>
<kwd lng="es"><![CDATA[BMV]]></kwd>
<kwd lng="es"><![CDATA[México]]></kwd>
<kwd lng="es"><![CDATA[C23]]></kwd>
<kwd lng="es"><![CDATA[C58]]></kwd>
<kwd lng="es"><![CDATA[G11]]></kwd>
<kwd lng="es"><![CDATA[G32]]></kwd>
<kwd lng="en"><![CDATA[Debt maturity]]></kwd>
<kwd lng="en"><![CDATA[capital structure]]></kwd>
<kwd lng="en"><![CDATA[determinants]]></kwd>
<kwd lng="en"><![CDATA[BMV]]></kwd>
<kwd lng="en"><![CDATA[Mexico]]></kwd>
<kwd lng="en"><![CDATA[C23]]></kwd>
<kwd lng="en"><![CDATA[C58]]></kwd>
<kwd lng="en"><![CDATA[G11]]></kwd>
<kwd lng="en"><![CDATA[G32]]></kwd>
</kwd-group>
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