English, Article edition: Control Rights and Capital Structure: An Empirical Investigation MICHAEL R. ROBERTS; AMIR SUFI

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/156106
Physical Description
  • article
Language
  • English

Edition details

Title
  • Control Rights and Capital Structure: An Empirical Investigation
Author
  • MICHAEL R. ROBERTS
  • AMIR SUFI
Physical Description
  • article
Notes
  • We show that incentive conflicts between firms and their creditors have a large impact on corporate debt policy. Net debt issuing activity experiences a sharp and persistent decline following debt covenant violations, when creditors use their acceleration and termination rights to increase interest rates and reduce the availability of credit. The effect of creditor actions on debt policy is strongest when the borrower's alternative sources of finance are costly. In addition, despite the less favorable terms offered by existing creditors, borrowers rarely switch lenders following a violation. Copyright (c) 2009 the American Finance Association.
  • RePEc:bla:jfinan:v:64:y:2009:i:4:p:1657-1695
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment