Coordination failure among owners of heterogeneous debt types increases distress costs. Covenants reduce expected distress costs by lowering the probability of liquidity shortages, increasing liquidation values, and incentivizing creditor monitoring. We predict and find that new debt contracts...

We examine the relation between accounting quality and debt concentration in corporate capital structures (i.e., firms' tendency to rely predominantly on only a few types of debt). Motivated by theoretical and empirical research that supports a strong link between debt concentration and...

Purpose: The purpose of this study is to explore how gender influences peer assessment in team-building activities in China. Design/methodology/approach: A nine-player Werewolf game was adopted to conduct the experiment. Nine abilities were defined to evaluate players’ performances. Before...