use of default clauses and their restrictiveness within the same type of lending contract but also across loans and bonds …

and interpretability of tests of lenders' use of the information for loan contract monitoring. To fill this gap, we … lenders' loan contract monitoring; (2) the covenants are positively associated with the frequency of loan contract amendments …

in the syndicated loan market. We show that a covenant violation in the prior loan contract provides a signal to … creditors which results in stricter contract terms for the subsequent new loan. This signal is neither related to unobservable … nor to observable firm characteristics at the initiation of the new loan, such as for example credit risk. It also does …

This paper examines the relationship between debt contracts and state contract law. We first develop an index to … evaluate whether each state's law is favorable or unfavorable to lenders. We then analyze how the contract terms, the frequency … most likely to be used when the contract is governed by law that is favorable to debtors, and that out-of-state borrowers …

contract renegotiations. I study whether the demand for monitoring determines the renegotiation intensity, defined as either … contract renegotiation trades off the benefits of enhanced monitoring with the costs of suboptimal creditor intervention …

effect of renegotiation costs on initial contract terms. TD9599 materially reduced the tax burden of renegotiating U … setting, we examine the implications of incomplete contracting theory for debt contract design. Consistent with incomplete …