haku: @indexterm FINANCIAL THEORY / yhteensä: 142
viite: 105 / 142
| Tekijä: | Malitz, I. |
| Otsikko: | On financial contracting : The determinants of bond convenants. |
| Lehti: | Financial Management
1986 : SUMMER, VOL. 15:2, p. 18-25 |
| Asiasana: | FINANCIAL THEORY BONDS FINANCIAL MANAGEMENT SHAREHOLDERS CAPITAL MARKETS |
| Kieli: | eng |
| Tiivistelmä: | The finance literature identifies two conflicting theories concerning the role of bond covenants: the irrelevance hypotheses. This paper identifies specific firm characteristics that should lead on type covenant or another to be advantageous and tests the resulting hypotheses on a large sample of senior debentures. Using discriminant analysis,it is identified with 82% accuracy that a firm's choice of covenants based on its leverage,size and relationship with the capital market. |
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