Senior Lender Control Rights and Cost of Debt

2015 ◽  
Author(s):  
Bo Li ◽  
Lynnette D. Purda ◽  
Wei Wang
Keyword(s):  
Cost Of Debt ◽  
Control Rights ◽  
Lender Control

Do Bondholders Value Senior Loan Lender Control Rights?

2016 ◽  
Author(s):  
Bo Li ◽  
Wei Wang
Keyword(s):  
Control Rights ◽  
Lender Control

Operating Risk and the Scope of Lender Control Rights

2016 ◽  
Author(s):  
Stephen A. Karolyi
Keyword(s):  
Control Rights ◽  
Operating Risk ◽  
Lender Control

scholarly journals Does the Transformation to holding company systems in Korean Chaebol improve the valuation independence of affiliated firms’ cost of debt?

2016 ◽  
Vol 13 (4) ◽  
pp. 447-457
Author(s):  
Sang-II Kim ◽  
Won-Wook Choi ◽  
Ho-Young Lee
Keyword(s):  
Corporate Governance ◽  
Cost Of Debt ◽  
Fundamental Change ◽  
Asian Countries ◽  
Control Rights ◽  
Equity Investment ◽  
Holding Company ◽  
Internal Capital ◽  
Negative Effect ◽  
The Cost

Family-owned conglomerates are prevalent in most Asian countries, in which excessive control rights of their majority shareholders infringe independent managements of their affiliated firms. Less than 50% of Korean chaebol conglomerates have transformed to holding company systems to ensure independent management of affiliated firms. Empirical analyses discovered that the cost of debts in the companies which have been transformed to holding company restricting the complicated equity investment among the affiliated firms of chaebol are evaluated independently. Results imply that the negative effect from the propping of internal capital can be reduced through the fundamental change in the corporate governance.

Business-groups in Russian industries

2004 ◽  
pp. 121-134 ◽  
Author(s):  
S. Avdasheva
Keyword(s):  
Industrial Organization ◽  
Economic System ◽  
Institutional Economics ◽  
Business Groups ◽  
Control Rights ◽  
Organization And Management ◽  
Russian Economy ◽  
Main Determinants ◽  
Soviet Economic System

The chapter of “Institutional Economics” textbook is devoted to the development of business-groups as a specific feature of industrial organization in the Russian economy. The main determinants of forming and functioning of business-groups such as allocation of property rights in Soviet enterprises, networks of directors and executive authorities in the Soviet economic system as well as import of new institutes and inefficient state enforcement are in the center of analysis. Origins, structure, organization and management within the groups and the role of shareholding and informal control rights are considered.

The Influence of Growth, Asset Tangibility, Cost of Debt, Profitability and Business Risk On Debt Capital

2019 ◽  
Vol 4 (4) ◽  
pp. 120-127
Author(s):  
Erika Jimena Arilyn ◽  
Beny Beny
Keyword(s):  
Firm Growth ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Developed Countries ◽  
Jel Classification ◽  
Cost Of Debt ◽  
Market Condition ◽  
Business Risk ◽  
Debt Capital

Objective –The aims to identify the significant factors that influence a company’s decision to use debt capital. Methodology/Technique – This study uses 5 independent variables namely; firm growth (growth rate in total gross assets), asset tangibility (ratio of net fixed assets to total assets), cost of debt (interest before tax / long term debt), profitability (Earnings Before Interest and Taxes (EBIT) / Total Asset), and business risk (standard deviation of EBIT to total assets). The dependent variable in this study, debt capital, is measured by the ratio of long-term debt to total assets. A purposive sampling method is used to select 11 out of 18 textile and garment companies listed on the Indonesian Stock Exchange between 2014 and 2018 that report their annual financial positions. A quantitative method, panel data analysis technique and SPSS tools were also used in this study. Findings – The results show that debt capital is influenced by profitability, while the remaining factors do not influence debt capital. Novelty – This study adds to the existing literature on internal factors, market condition as an external factors, and debt capital in developed countries. The benefit of this study is to explore the potential capabilities of the industry in using its profit to minimize the use of debt as a source of capital to decrease business risk. Type of Paper: Empirical Keywords: Profitability; Growth; Cost of Debt; Business Risk; Tangibility; Capital Structure. Reference to this paper should be made as follows: Ariyln, E., J; Beny; 2019. The Influence of Growth, Asset Tangibility, Cost Of Debt, Profitability and Business Risk On Debt Capital, Acc. Fin. Review 4 (4): 120 – 127 https://doi.org/10.35609/afr.2019.4.4(4) JEL Classification: G23, G32.

Creditor Control Rights, Loan Enforcement and Bankruptcy Regimes

2010 ◽  
Author(s):  
Luh Luh Lan ◽  
Yew Kee Ho
Keyword(s):  
Control Rights

Corporate Governance, Credit Condition, and the Cost of Debt

2011 ◽  
Author(s):  
Michael Bradley ◽  
Dong Chen
Keyword(s):  
Corporate Governance ◽  
Cost Of Debt ◽  
The Cost

Workplace Injuries and the Agency Cost of Debt

2012 ◽  
Author(s):  
Jonathan B. Cohn ◽  
Malcolm Wardlaw
Keyword(s):  
Agency Cost ◽  
Cost Of Debt ◽  
Workplace Injuries ◽  
Agency Cost Of Debt
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