Board monitoring and covenant restrictiveness in private debt contracts during the global financial crisis
We examine the association between board independence and restrictiveness of covenants in U.S. private debt contracts around the global financial crisis (GFC). We show that board independence is associated with less restrictive covenants suggesting lenders willingness to delegate some monitoring of...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English English English |
| Published: |
Blackwell Publishing
2020
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/81638/ http://irep.iium.edu.my/81638/19/81638_Board%20monitoring%20and%20covenant%20restrictiveness%20in%20private_new.pdf http://irep.iium.edu.my/81638/2/81638_Board%20monitoring%20and%20covenant%20restrictiveness_SCOPUS.pdf http://irep.iium.edu.my/81638/3/81638_Board%20monitoring%20and%20covenant%20restrictiveness_WOS.pdf |
Internet
http://irep.iium.edu.my/81638/http://irep.iium.edu.my/81638/19/81638_Board%20monitoring%20and%20covenant%20restrictiveness%20in%20private_new.pdf
http://irep.iium.edu.my/81638/2/81638_Board%20monitoring%20and%20covenant%20restrictiveness_SCOPUS.pdf
http://irep.iium.edu.my/81638/3/81638_Board%20monitoring%20and%20covenant%20restrictiveness_WOS.pdf