Should preferred stock be treated under corporate law as an equity interest in the issuing corporation or under contract law as a senior security? Should...
Better access to debt markets mitigates the effects of uncertainty on corporate policies. We establish this result using the staggered introduction of...
Search costs for lenders when evaluating potential borrowers are driven by the quality of the underwriting model and access to data. Both have undergone...
We show that supply-side effects arising from the bond holdings of open-end mutual funds affect corporate credit risk. In our model, funds exposed to...
The ambiguous phrasing of pari passu (equal treatment) clauses in sovereign debt contracts has long baffled commentators. We show that in the presence...
We examine the effects of a law amendment in Israel in 2011 that imposes a set of minimum corporate governance standards on privately held firms that issue...
Despite its massive size, the corporate debt market is often considered a sleepy refuge for the risk-averse. Yet, corporate debt contracts are often...