Covenant-Light Contracts and Creditor Coordination
نویسندگان
چکیده
منابع مشابه
Debt Covenant Design and Creditor Control Rights: Evidence from Covenant Restrictiveness and Loan Outcomes
Using three measures of covenant restrictiveness, I examine the association between the ex ante design of debt covenant restrictiveness and the ex post exercise of creditor control rights. I find that contracts with higher level of covenant restrictiveness at loan origination are more likely to subsequently experience both covenant violations and renegotiations, suggesting that stricter covenan...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2016
ISSN: 1556-5068
DOI: 10.2139/ssrn.2756926