We investigate how both the ownership structure and explicit contractual structure of syndicated
loan deals are shaped by the debt‐contracting value (DCV) of borrowers' accounting …

Previous empirical evidence provides mixed results on the relationship between corporate
environmental performance and the level of environmental disclosures. We revisit this …

This study examines what factors affect firms’ decisions to adopt a proactive environmental
strategy and whether pursuing proactive environmental strategies leads to improved financial …

Foreign operations are becoming increasingly important for US companies. We investigate
whether the market's valuation of foreign earnings is a function of the firm's geographic …

We examine the role of dynamic covenant threshold values in syndicated loan agreements.
We document that 45% of syndicated loans specify dynamic covenant thresholds in earnings…

We document that: (1) the incidence of bond trade increases during the days surrounding
earnings announcements, (2) there is a bond‐price reaction to the announcement of earnings, …

We investigate the credit market’s response via changes in credit default swap (CDS) spreads
to management earnings forecasts and evaluate the importance of these forecasts relative …

Previous theoretical arguments suggest that industrial diversification provides a co-insurance
effect that decreases the firm's default risk. In this paper, we endogenously estimate a firm's …

Bringing a unique joint practitioner and academic perspective to the topic, this is the only
available text on private equity truly international in focus. Examples are drawn from Europe the …

This study uses a large sample of sell‐side bond analysts' reports to examine the properties
of recommendations provided by bond analysts and the impact of these recommendations …