haku: @journal_id 800 / yhteensä: 148
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| Tekijä: | Cho, J. |
| Otsikko: | Implications of debt renegotiation for optimal bank policy and firm behavior |
| Lehti: | Review of Quantitative Finance and Accounting
1997 : VOL. 8:2, p. 163-180 |
| Asiasana: | FINANCE ACCOUNTING BANKING |
| Kieli: | eng |
| Tiivistelmä: | This paper analyses the problems associated with the renegotiation of debt contracts involving a bank (the lender) and a firm (the borrower) when the latter is operated by a risk averse manager. Firms undertake risky projects with loan capital borrowed from the bank. When a firm cannot pay off a loan it is technically bankrupt. Both the borrower and the lender may however experience a Pareto-improvement in their positions by renegotiating the loan. |
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