We test whether firms with a single bank are better shielded from loss of credit and investment cuts in periods of … adverse cash flow shocks than firms with multiple bank relationships. Our estimates of the cash flow sensitivity of investment … shocks. In these periods, firms incur lower cuts in investment expenditures when they can obtain extra credit. In periods of …

generates novel implications for the impact of renegotiable debt on covenant and investment policies …

firms. Our model shows that when the demand shock has higher volatility, the firm finances the investment cost with high …We develop a model to examine the timing of investment decisions in relation to the issuance of convertible debt by … tend to defer investments. Furthermore, we examine the investment decisions in which the convertible debt includes a call …