The Role of Dynamic Renegotiation and Asymmetric Information in Financial Contracting
收藏NBER2014-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w20484
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Using data from SEC filings, I show that the typical bank loan is renegotiated five times, or every nine months. The pricing, maturity, amount, and covenants are all significantly modified during each renegotiation, whose timing is governed by the financial health of the contracting parties and
提供机构：
美国国家经济研究局
创建时间：
2014-09-01
