Determinants of contractual relations between shareholders and bondholders: investment opportunities and restrictive covenants

By R. Nash, Jeffry M. Netter, Annette B. Poulsen. 2003

242 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/d665c41740e19bb4a85b6630d2fa29d5c4a36ef7

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Citations in the corpus

The Structure and Pricing of Corporate Debt Covenants (2015, result): “This result is consistent with the ̄ndings of Nash et al. (2003). Supply side (lender) factors enter into both the contract structure, as well as the pricing of the debt.”
Do Country Level Investor Protections Impact Security Level Contract Design? Evidence from Foreign Bond Covenants (2012, unknown): “Nash, Netter, and Poulsen (2003), Bradley and Roberts (2004), and Reisel (2008), for example, show that covenants are more likely to be used when the firm is close to financial distress as the agency problems are likely to be severe in this type of firms.”
Bank reputation in the private debt market (2010, background): “Moreover, Nash et al. (2003) ﬁ nd evidence that high growth ﬁ rms include fewer dividend covenants in their debt contracts, re ﬂ ecting a preference for ﬂ exibility in ﬁ nancing rather than contracting practice.”
Capital versus Performance Covenants in Debt Contracts (2012, unknown): “First, we contribute to the literature on creditor control rights and debt contract design (e.g., Dichev and Skinner 2002; Nash et al. 2003; Nini et al. 2007; Chava and Roberts 2008).”
Renegotiation of Financial Contracts: Evidence from Private Credit Agreements (2009, unknown): “Our study is also related to previous work examining why borrowers and lenders write into contracts various contingencies, such as covenants (e.g., Smith and Warner, 1979; Malitz, 1986; Begley, 1994; Goyal, 2005; Nash, Netter, and Poulson, 2003; Bradley and Roberts, 2003) and performance pricing (”
To what extent did the economic stimulus package influence bank lending and corporate investment decisions? Evidence from China (2018, methodology): “To address this concern, we use the growth rate of sales level as an alternative proxy for investment opportunities following Nash et al. (2003), and re-estimate our bank loan equations.”