Credit Default Swaps, Agency Problems, and Management Incentives
收藏NBER2017-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w24064
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We show in a theoretical model that credit default swaps induce managerial agency problems through two channels: reducing the opportunity for managers to transfer value to equityholders from creditors via strategic default, and reducing the intensity of monitoring by creditors, which leads to
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美国国家经济研究局创建时间：
2017-12-01
