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Securities laws and the choice between loans and bonds for highly levered firms
Prilmeier, Robert; Stulz, René M. - 2019
In contrast to bonds, cov-lite loans do not require SEC registration and are not subject to securities laws. We show that this distinction plays an important role in firms' choice between funding through cov-lite loans and bonds and helps understand why the market share of cov-lite loans has...
Persistent link: https://www.econbiz.de/10012101811
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Insolvency resolution and the missing high yield bond markets
Becker, Bo; Josephson, Jens - 2013
Persistent link: https://www.econbiz.de/10010188575
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Insolvency Resolution and the Missing High Yield Bond Markets
Becker, Bo - 2016
In many countries, bankruptcy is associated with low recovery by creditors. We develop a model of corporate credit … markets in such an environment. Corporate credit is provided by either a bond market or risk-averse banks. Restructuring of …-country and using insolvency reforms as natural experiments. Our empirical estimates suggest that a one …
Persistent link: https://www.econbiz.de/10013007223
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Insolvency Resolution and the Missing High Yield Bond Markets
Becker, Bo - 2013
In many countries, bankruptcy is associated with low recovery by creditors. We develop a model of corporate credit … markets in such an environment. Corporate credit is provided by either a bond market or risk-averse banks. Restructuring of …-country and using insolvency reforms as natural experiments. Our empirical estimates suggest that a one …
Persistent link: https://www.econbiz.de/10012459246
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Insolvency Resolution and the Missing High Yield Bond Markets
Becker, Bo - 2013
In many countries, bankruptcy is associated with low recovery by creditors. We develop a model of corporate credit … markets in such an environment. Corporate credit is provided by either a bond market or risk-averse banks. Restructuring of …-country and using insolvency reforms as natural experiments. Our empirical estimates suggest that a one …
Persistent link: https://www.econbiz.de/10013076562
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Default clauses in debt contracts
Li, Ningzhong; Lou, Yun; Vasvari, Florin P. - In: Review of accounting studies 20 (2015) 4, pp. 1596-1638
Persistent link: https://www.econbiz.de/10011396659
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Dual class firms and debt issuance
Basu, Nilanjan; Qiu, Ming - In: Corporate ownership & control : international … 14 (2016/2017) 1, pp. 20-29
Persistent link: https://www.econbiz.de/10011667837
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Corporate debt structure and the financial crisis
De Fiore, Fiorella; Uhlig, Harald - 2014
Persistent link: https://www.econbiz.de/10010461979
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Heterogeneity in corporate debt structures and the transmission of monetary policy
Holm-Hadulla, Fédéric; Thürwächter, Claire - 2020
find that: bond finance dampens the overall response of firm credit to monetary policy shocks in economies with a high …
Persistent link: https://www.econbiz.de/10012212853
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Corporate debt structure and the financial crisis
De Fiore, Fiorella; Uhlig, Harald - 2015
Persistent link: https://www.econbiz.de/10010482136