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Creditor intervention, investment, and growth opportunities
Mariano, Beatriz; Tribó, Josep A. - In: Journal of financial services research : JFSR 47 (2015) 2, pp. 203-228
Persistent link: https://www.econbiz.de/10011383802
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The influence of loan officers on loan contract design and performance
Bushman, Robert M.; Gao, Janet; Martin, Xiumin; … - In: Journal of accounting & economics 71 (2021) 2/3, pp. 1-25
Persistent link: https://www.econbiz.de/10012533589
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Creditor Intervention, Investment, and Growth Opportunities
Mariano, Beatriz; Giné, Josep Tribó - In: Journal of Financial Services Research 47 (2015) 2, pp. 203-228
We show that creditors do not just ensure that inefficient investment is not undertaken, but also do not preclude efficient investment. Examining what happens following a debt covenant violation, a situation through which creditors acquire some control rights over the firm, we find that...
Persistent link: https://www.econbiz.de/10011241837
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Debt covenant renegotiations and creditor control rights
Denis, David J.; Wang, Jing - In: Journal of financial economics 113 (2014) 3, pp. 348-367
Persistent link: https://www.econbiz.de/10010495124
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How Laws Affect Contracts: Evidence from Yankee Bond Covenants
Wald, John; Qi, Yaxuan; Roth, Lukas - College of Business, University of Texas-San Antonio
bond covenants. Using comprehensive debt covenant information for a sample of Yankee bonds issued by firms from more than … restrictive covenants. This finding suggests that creditor rights laws substitute for debt covenants in reducing the agency cost … include more covenants, suggesting that greater shareholder rights may actually increase the shareholder-bondholder agency …
Persistent link: https://www.econbiz.de/10005036756
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Debt covenant renegotiations and creditor control rights
Denis, David J.; Wang, Jing - In: Journal of Financial Economics 113 (2014) 3, pp. 348-367
covenant violation, debt covenants are frequently renegotiated. These renegotiations primarily relax existing restrictions and … result in economically large changes in existing limits. Renegotiations of specific covenants are a response to both the …
Persistent link: https://www.econbiz.de/10011039268
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Creditor rights, implicit covenants, and the quality of accounting information
Ḥamdani, Asaf; Mugerman, Yevgeny; Rooz, Ruth; … - 2021
Persistent link: https://www.econbiz.de/10013188709
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Sovereign debt and corporate borrowing costs in emerging markets
Ağca, Şenay; Celasun, Oya - In: Journal of international economics 88 (2012) 1, pp. 198-208
Persistent link: https://www.econbiz.de/10010220094
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Sovereign debt and corporate borrowing costs in emerging markets
Ağca, Şenay; Celasun, Oya - In: Journal of International Economics 88 (2012) 1, pp. 198-208
We document that the corporate sector faces higher borrowing costs when the external debt of the public sector is higher. By contrast, no significant relationship is found between domestic public debt and corporate borrowing costs. An increase in sovereign debt by one standard deviation from its...
Persistent link: https://www.econbiz.de/10011056354
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SEC enforcement in the PIPE market : actions and consequences
Bengtsson, Ola; Dai, Na; Henson, Clifford - In: Journal of banking & finance 42 (2014), pp. 213-231
Persistent link: https://www.econbiz.de/10010408393