I have used liabilities up to one year maturity as short term debt and liabilities more than one year as long term debt. I collected the data from liquidity statement of banks. But now a confusion arise in my mind whether debt and liabilities are two different things. Should I use just borrowings as debt? In the paper of "Jadah, H.M., Hameed, T.M. and Al-Husainy, N.H.M., 2020. The impact of the capital structure on Iraqi banks’ performance. Investment Management & Financial Innovations, 17(3), p.122, the authors used total liabilities and total debt as two distinct variables.