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Documented Connection Between Expansion of Consumer Credit and Increase in Bankruptcy Filings. Studies by the Congressional Budget Office, the Federal Deposit Insurance Corporation, and independent ...
Many people ignore debts when they experience financial difficulty. Some fear contacting their creditors. They do not understand the consequences of not paying bills. Ignoring debts will ...
This study examines the selection of financial ratio covenants in debt contracts. Expanding on existing theory and evidence, I predict that loan contracts will include covenants with ratios ...
We investigate the impact of founding family ownership structure on the agency cost of debt. We find that founding family ownership is common in large, publicly traded firms and is related,
We examine firm financing choices by considering the amount of debt firms can support. Our analysis indicates that when the amount of debt that firms can support is explicitly accounted for, the ...
Following the introduction of the euro, the markets for large debt financing experienced a historical expansion. We investigate the financial factors behind the issuance of syndicated loans for an ...
I develop adynamic structural model to show how managerial ‡exibilityin…nancing, e¤ort, and private bene…textractiona¤ectsa…rm'scapital structure and the values of ...
Building on the 'law and economics' literature, this paper analyses corporate governance implications of debt financing in an environment where a dominant owner is able to extract ex ante 'private ...
This paper documents the specification of a model that was constructed to assess debt sustainability in emerging market economies. Key features of the model include external and fiscal sectors, which ...
The recent bursting of the great global credit bubble not only led to the first worldwide recession since the 1930s, but also left an enormous burden of debt that now weighs on the prospects for ...
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