Securities Laws, Bank Monitoring, and the Choice Between Cov-lite Loans and Bonds for Highly Levered
NBER Working Paper No. 25467
---- Acknowledgments ----
We thank Mark Carey, Sergey Chernenko, Victoria Ivashina (EFA discussant), Justin Murfin, Greg Nini (AFA discussant), Mike Schwert, Phil Strahan, participants at presentations at City University of Hong Kong, Tulane University, the European Finance Association Meeting in Lisbon, the American Finance Association meeting in San Diego, and the FDIC Annual Bank Research Conference for helpful comments. We are grateful for excellent research assistance from Andrei Gonçalves, Byungwook Kim, and Leandro Sanz. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
---- Disclosure of Financial Relationships for René M. Stulz ----
René Stulz serves on the board of a bank and consults and provides expert testimony for financial institutions. He also belongs to the board of trustees of the Global Association of Risk Professionals.