Showing 1 - 7 of 7
Persistent link: https://www.econbiz.de/10001209032
Persistent link: https://www.econbiz.de/10009571712
We examine whether financing commitments from a target firm's financial advisor, in the form of stapled financing, provide certification of target value. Using a dataset of leveraged buyouts spanning 2002-2011, and addressing endogeneity issues, we find that stapled financing has significantly...
Persistent link: https://www.econbiz.de/10013014437
We review the recent theoretical and empirical literature on debt covenants with a particular focus on how creditor governance after covenant violations can influence the borrower's corporate policies. From the theoretical literature, we identify the key trade-offs that help explain the observed...
Persistent link: https://www.econbiz.de/10012842087
We review the recent theoretical and empirical literature on debt covenants with a particular focus on how creditor governance after covenant violations can influence the borrower's corporate policies. From the theoretical literature, we identify the key trade-offs that help explain the observed...
Persistent link: https://www.econbiz.de/10012844499
We theoretically and empirically address the endogeneity of corporate ownership structure and the cost of debt, with a novel emphasis on the role of control concentration in post-default firm restructuring. Control concentration raises agency costs of debt, and dominant shareholders trade off...
Persistent link: https://www.econbiz.de/10013036952
Persistent link: https://www.econbiz.de/10011742058