The Information Content of Bank Loan Covenants
By C. Demiroğlu, Christopher M. James. 2010
437 citations recorded by the source corpus.
Subfields: Accounting
View Paper: https://www.semanticscholar.org/paper/db1d737a5e90a56fb01462d4400204d799d001ba
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In Accounting
- Robert Prilmeier
- Sudipto Shankar Dasgupta
- Warren Bailey
- Michael R. Roberts
- Raunaq S. Pungaliya
- Redouane Elkamhi
- Wei Huang
- Ling Cen
Citations in the corpus
- Credit Lines as Monitored Liquidity Insurance: Theory and Evidence (2012, neutral): “…(1) divided by Net Assets CF Volatility Standard Deviation of Operating Income (13) over Previous 12 Quarters Scaled by Total Assets (6) Covenant Index (Demiroglu and James (2010)) Sum of the following covenants: Collateral Release, Dividend Restrictions, Dummy Financial Covenants, Asset Sales…”
- Reputation and Loan Contract Terms: The Role of Principal Customers (2016, methodology): “Thus, we include another measure called covenant intensity inspired by Demiroglu and James (2010), which sums both financial and non-financial covenants together in a simple index.”
- Bank Loans with Chinese Characteristics: Some Evidence on Inside Debt in a State-Controlled Banking System (2011, background): “…(Lummer and McConnell (1989), Best and Zhang (1993)), smaller borrowers (Slovin, Johnson, and Glascock (1992)), borrowers with high dispersion in expected earnings or negative earnings realizations (Best and Zhang), and loans with particularly demanding covenants (Demiroglu and James (2007)).”
- Why Do Loans Contain Covenants? Evidence from Lending Relationships (2017, positive): “Second, Demiroglu and James (2010) show that covenants are set more tightly for”
- Who Uses Financial Reports and for What Purpose? Evidence from Capital Providers (2014, neutral): “The most common financial covenants are those based on net worth, working capital, leverage, interest coverage and cash flow (Citron, 1992b; Bradley and Roberts, 2004; Gârleanu and Zwiebel, 2009), though debt/EBITDA covenants are increasingly popular (Demiroglu and James, 2010).”