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Restrictive Covenants and Accounting Information in the Market for Convertible Notes: Further Evidence
Author(s) -
Stokes Don,
Leong Tay Kok
Publication year - 1988
Publication title -
accounting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.645
H-Index - 49
eISSN - 1467-629X
pISSN - 0810-5391
DOI - 10.1111/j.1467-629x.1988.tb00093.x
Subject(s) - convertible , covenant , accounting , convertible bond , business , economics , finance , law , political science , engineering , bond , structural engineering
This survey extends Whittred and Zimmer's [1986] survey of the restrictive covenants and accounting rules negotiated in debenture, unsecured and convertible note deeds by analysing the contents of 84% of convertible note deeds issued between 1976 and 1985. The paper also examines negotiated reporting obligations and controls for regulatory effects on the covenants and accounting rules. Conclusions from the survey are compared to those of Whittred and Zimmer [1986].