Studies indicate that a consistent rise in insolvency risk should be addressed at the strategic level. Vigilant boards … can use leverage maturity structure as a tool to control insolvency risk. However, according to the information asymmetry … theory, leverage acquisition is subject to the presence of fixed assets which can be used as collateral. The current study …

. This evidence is consistent with the notion that the use of covenants reduces bankruptcy risk. However, theory suggests …

. This evidence is consistent with the notion that the use of covenants reduces bankruptcy risk. However, theory suggests …

significant for firms with low credit quality. These findings suggest that the bank supply shock theory helps explain the …

Building on the trade-off between agency costs and monitoring costs, we develop a dynamic theory of optimal capital …