| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5089572 | Journal of Banking & Finance | 2013 | 10 Pages |
Abstract
⺠We empirically test if covenant violations lead to dividend reductions. ⺠We find that violations significantly increase the likelihood of dividend reductions. ⺠Relationship is more significant for financially constrained firms. ⺠Relationship is more significant for firms with strong shareholder rights. ⺠Relationship is only significant before the repeal of Glass-Steagall and not after.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Laarni Bulan, Tyler Hull,