Non-competes, career concerns, and debt covenants
We study the impact of managers’ career concerns from non-competes enforcement on the design of debt covenants in private debt agreements. Using exogenous changes in the enforceability of managers’ non-compete clauses over the period of 1992-2004 across states in the United States, we show that borr...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2017
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soa_research/1854 https://ink.library.smu.edu.sg/context/soa_research/article/2881/viewcontent/SSRN_id3054876.pdf |
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| Institution: | Singapore Management University |
| Language: | English |