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We examine how accounting-based compensation plans influence a firm's contracts with its creditors. After granting long-term accounting-based compensation plans (LTAPs) to CEOs, firms pay lower spreads and have fewer restrictive covenants in new bank loans. Mechanisms leading to lower borrowing...
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This study analyzes the magnitude of the US monetary policy spillover on the Indonesian local currency government bond …
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are turning to bond issue to maintain their liquidity and finance development projects. However, bondholders impose …'s indebtedness and ability-to-repay-debt financial ratios. This article discusses bond issue costs. The authors analyze the bond … issue programs of three of the four mining companies operating in Poland. The fourth company did not issue any bonds. Bond …
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This article takes the defaulted bonds as the research object, uses the structural break points of bond prices as the … adjustment. The number of days between the two can be used as a kind of evaluation indicator for the timeliness of bond credit … rating adjustment. The empirical analysis about defaulted bonds on the China bond market show that 44.67% of the defaulted …
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We document capital misallocation in the U.S. investment-grade (IG) corporate bond market, driven by quantitative … easing (QE). Prospective fallen angels - risky firms just above the IG rating cutoff-enjoyed subsidized bond financing since …
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