This thesis comprehensively examInes the relationship between corporate debt issuance and market timing. The focus is on the different issues of debt market timing across the different stages of corporate debt issuance from pre-issue considerations, to implementation and post-issue influences. It also covers different aspects of debt issue decisions including maturity, yield type and issue volume. The thesis starts with an investigation of what motivates debt issue decisions based on the framework of risk management, and finds that timing the debt market rather than hedging the interest rate exposure is the primary motivation for firms choosing yield types and maturities for their newly issued debt. The thesis then explores the information and mechanism behind debt market timing implementation, and finds that managerial market timings of debt issuances are simply responses to fluctuations in market conditions, while their predictions of future market variations are generally unsuccessful. Finally, the thesis examines the influences of debt market timing on capital structure of firms. It was found that, although debt market timing of issue volume results in the abnormal deviation of the debt ratio and impacts on firms' capital structures in both the short and long-term, managers appear to make no effort to reverse the deviations of capital structure. Rather, they continue to time the market afterwards. Therefore, as regards the implications for capital structure, market timing has a long-term influence.