WebOct 11, 2014 · Bratton W (2006) Bond covenants and creditor protection: economics and law, theory and practice, substance and process. Eur Bus Org Law Rev (EBOR) 1:39–87. ... Diamond D (1984) Financial intermediation and delegated monitoring. Rev Econ Stud 51:393–414. CrossRef Google Scholar Elkamhi R, Ericsson J, Parsons CA (2012) The … WebNov 1, 2004 · Private placement bonds have unique financial contracting in controlling borrower-lender agency conflicts due to direct monitoring and the relative ease of future …
Evidence on the determinants and economic …
WebFeb 1, 1999 · Bond covenants and delegated monitoring. Journal of Finance (1988) J. Campbell et al. Changing patterns of corporate finance and the main bank system in Japan; T. Chemmanur et al. Reputation, renegotiation, and the choice between bank loans and publicly traded debt. Review of Financial Studies WebDownloadable! This study investigates determinants of debt covenants in Japanese loan markets. We focus on a unique monitoring mechanism by Japanese banks and hypothesise that debt covenants substitute for the traditional main bank governance. Consistently, we find that debt covenants are less likely to be used for firms with … i-ready scores meaning
Evidence on the determinants and economic …
WebJun 1, 2012 · Cross-default versus cross-acceleration covenants and delegated monitoring. Smith and Warner (1979) indicate that financial covenants are an important … WebJan 19, 2012 · We investigate the association between direct debtholder monitoring via bond covenants and delegated monitoring via borrowers’ corporate governance … WebMar 1, 2024 · By using a comprehensive dataset on Yankee bonds, we find that bond contracts include more covenants when the issuer comes from a country with a lower level of trust. This substitution effect between trust and contractual detail holds after controlling for a variety of controls in country, firm and security level. ... Theories of delegated ... i-ready scores 2021