Examinando por Materia "Contratos de deuda"

Mostrando 1 - 1 de 1
  • No hay miniatura disponible
    Publicación
    Accounting information and the structure of corporate debt covenants
    (Universidad EAFIT, 2018) Marín Salazar, Daniel Alejandro; Ilić, Iva; Aledo Martínez, Juana
    In this End of Mater Project, we analyse the most relevant empirical and theoretical papers and main ideas behind them -- Following academic work made us understand what is the role of accounting information in the improvement of debt contracting and how it achieved this, among different mechanisms -- Here we are focusing our attention on two different theories, The Agency theory and The Incomplete contract theory -- We consider really important the differences between two of them and how they, together, influence contract making -- Furthermore, we base our analysis on different type of covenants included in both theories, as well as on the impact of accounting conservatism to risk reduction or at least risk perception -- Finally, we explain importance of existence of renegotiation process both, ex-post and ex-ante -- All this in order to understand how debt covenants are made, why lenders rely on them and why in different case scenarios they play completely different role