The effect of accounting-based debt covenants on equity valuation 1 We appreciate the helpful comments of Jeff Abarbanell, Ray Ball (the editor), Mike Barclay, Jennifer Francis, Chris Géczy, Bruce Grundy, Wayne Guay, Bob Holthausen, Ken Klassen, S.P. Kothari, Mark Lang, Krishna Ramaswamy, Katherine Schipper, Beverly Walther, seminar participants at the University of Chicago, Harvard University, University of North Carolina, Northwestern University, Pennsylvania State University, University of Rochester, Stanford University, University of Waterloo, and the Wharton School, and especially the useful suggestions of Paul Fischer and Sudipta Basu (the referee). We appreciate the financial support of the Wharton Financial Institutions Center. 1
Titel:
The effect of accounting-based debt covenants on equity valuation 1 We appreciate the helpful comments of Jeff Abarbanell, Ray Ball (the editor), Mike Barclay, Jennifer Francis, Chris Géczy, Bruce Grundy, Wayne Guay, Bob Holthausen, Ken Klassen, S.P. Kothari, Mark Lang, Krishna Ramaswamy, Katherine Schipper, Beverly Walther, seminar participants at the University of Chicago, Harvard University, University of North Carolina, Northwestern University, Pennsylvania State University, University of Rochester, Stanford University, University of Waterloo, and the Wharton School, and especially the useful suggestions of Paul Fischer and Sudipta Basu (the referee). We appreciate the financial support of the Wharton Financial Institutions Center. 1