The design of dept contracts
: evidence of cost effective use of covenants from a large sample of small loans
BP2-STS
- Bilodeau, Julien Sherbrooke, Canada
- Missonier-Piera, Franck ORCID University of Fribourg
- 2015
Published in:
- Corporate Ownership & Control. - 2015, vol. 12, no. 2, p. 8-16
English
This paper investigates the use of covenants in debt contracts as well as the role played by accounting numbers in those contracts. More specifically, it provides evidence that covenants, and more importantly accounting based covenants, are used in a cost effective way in these contracts. It also provides a unique description of the types of covenants and accounting numbers which are used in a large sample of loan issued to small Canadian firms.
- Faculty
- Faculté des sciences économiques et sociales et du management
- Department
- Département des sciences du Management
- Language
-
- English
- Classification
- Economics
- Other electronic version
- License
- License undefined
- Identifiers
- Persistent URL
- https://folia.unifr.ch/unifr/documents/320177
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