Strategic disclosure and debt covenant violation
This study examines how managers change their forecasting behavior as a debt covenant violation (DCV) approaches. We find that management forecasts are more optimistic in the quarter before a DCV, and this result is stronger when firms face a higher risk of shifting control rights to lenders in the...
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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/1994 https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=3021&context=soa_research |
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| Institution: | Singapore Management University |
| Language: | English |