Strategic disclosure and debt covenant violation
This study examines how managers change their forecasting behavior as a debt covenant violation approaches. Using a sample of firms that disclose a debt covenant violation (DCV) in their financial statements, we find that management forecasts are more optimistic in the period leading up to a DCV, an...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2022
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soa_research/1855 https://ink.library.smu.edu.sg/context/soa_research/article/2882/viewcontent/SSRN_id3082058.pdf |
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| Institution: | Singapore Management University |
| Language: | English |