Credit default swaps and borrowers' real earnings management: Evidence from credit default swap initiation

Credit default swaps and borrowers' real earnings management: Evidence from credit default swap initiation

In this study, we examine whether the initiation of credit default swap (CDS) trading alters borrowers' real earnings management activities. Creditors increase debt supply and loosen loan contracts after CDS initiation, which in turn lessens borrowers' pressure to resort to real earnings m...

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Bibliographic Details
Main Authors: WANG, Yuxuan, FANG, Ruirui, HU, Nan, HUANG, Rong
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2023
Subjects:
credit default swaps
CDS
real earnings management
debtholders' incentives
Databases and Information Systems
Finance and Financial Management
Online Access:https://ink.library.smu.edu.sg/sis_research/8037
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/sis_research/8037

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