Three essays on corporate finance
(First Chapter) We examine how shareholder financial difficulties affect firms’ risk-shifting behavior. Using the 2003 mutual fund scandal as a shock to institutions’ risk-shifting incentives, we find that lenders charge higher loan spreads and impose more covenants after the scandal. The results ar...
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| Format: | Thesis-Doctor of Philosophy |
| Language: | English |
| Published: |
Nanyang Technological University
2021
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| Online Access: | https://hdl.handle.net/10356/147909 |
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| Institution: | Nanyang Technological University |
| Language: | English |