We examine the supply-side determinants of debt covenants included in loan agreements. Controlling for borrower characteristics, we find evidence that lead arranger banks include new contracts persist into future at least 3 years. document this covenant style effect is smaller when borrowers have recently violated a or issue amount large, and it larger costs contracting are highest provides col...

Abstract Traditional macroeconomic stabilization policies seek to moderate swings in economic activity through measures that primarily augment aggregate demand. Such are, however, inadequate mitigating the comprehensive effects of crisis such as COVID-19, which affects both demand and supply sides economy. Moreover, monetary are presently close a liquidity trap combined with weakened transmissi...

Abstract We analyze the supply-side disruptions associated with COVID-19. find that sectors in which a higher fraction of workforce is not able to work remotely experienced greater declines employment and expected revenue growth, worse stock market performance, likelihood default. The overweights low-exposure industries. Thus, our findings cast light on disconnect between indices aggregate outc...

In recent years, a lot of corporate defaults have had an impact on the capital market. How to prevent default risks has become important topic concern for academic community, enterprises and government. We took China’s A-share listed companies from 2012 2018 as sample, used double difference method analyze supply-side structural reforms risks. found that reduced risk default, inhibitory effect ...

The active participation of demand-side flexible resources in the wholesale market price formation and load dispatch process is crucial to encouraging participation. This calls for a joint supply-demand coordination mechanism fully take advantage distribution systems, including distributed energy (DERs) responsive loads (RLs). paper aims at comparing evaluating centralized transactive distribut...