منابع مشابه
Debt covenant slack and real earnings management
We examine the relation between firms’ real earnings management decisions and the slack in their net worth debt covenant. Using private debt covenant data, we find that the overall level of real earnings management is higher when net worth covenant slack is tighter. Moreover, we find that this effect is more pronounced for loan-years with the tightest slack, which is a setting where benefits of...
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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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Should you turn to Choon-Leong Seow's staff profile on the Princeton Seminary website you will find a brief precis of his view on the idiosyncratic nature of Wisdom literature (WL) when compared to the rest of the OT. The website tells us that 'The Old Testament's wisdom literature holds a particular interest for [Seow], in part because he r(qards it as distinctive for the complete absence of t...
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Medicine is, at its center, a moral enterprise grounded in a covenant of trust. This covenant obliges physicians to be competent and to use their competence in the patient’s best interests. Physicians, therefore, are both intellectually and morally obliged to act as advocates for the sick wherever their welfare is threatened and for their health at all times. Today, this covenant of trust is si...
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The Canadian Institute of Chartered Accountants and the American Institute of Certified Public Accountants have together called on the research community to show how continuous audit (CA) could be implemented in various auditing domains. In response to this call, we look at the domain of debt covenant compliance, and we utilize Cold Fusion, a leading web applications development technology, to ...
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ژورنال
عنوان ژورنال: The Yale Law Journal
سال: 1976
ISSN: 0044-0094
DOI: 10.2307/795604