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Weak Credit Covenants
By: Victoria Ivashina and Boris Vallée
Using novel data on 1,240 credit agreements, we investigate sources of contractual complexity in the leveraged loan market. While negative covenants are widespread, carve-out
and deductible clauses that qualify them are as frequent. We propose simple and comprehensive... View Details
Keywords: Leveraged Loans; Loan Contracts; Debt Covenants; Carve-out; Creditor Governance; LBO; Credit; Agreements and Arrangements; Leveraged Buyouts
Ivashina, Victoria, and Boris Vallée. "Weak Credit Covenants." Management Science (forthcoming). (Pre-published online April 15, 2025.)
- Forthcoming
- Article
You've Got Mail! The Late 19th-Century U.S. Postal Service Expansion, Firm Creation, and Firm Performance
By: Astrid Marinoni and Maria P. Roche
This paper examines the impact of the expansion of the US Postal Service in the late 19th century
on firm creation and performance. Utilizing newly digitized archival data on historic business establishments,
post office locations, and road networks in California,... View Details
Keywords: Institutional Innovation; Knowledge Exchange; US Postal Service; Firm Performance; Infrastructure; Expansion; Government Administration; Communication; Business History; Entrepreneurship; Public Administration Industry; California
Marinoni, Astrid, and Maria P. Roche. "You've Got Mail! The Late 19th-Century U.S. Postal Service Expansion, Firm Creation, and Firm Performance." Management Science (forthcoming). (Pre-published online January 15, 2025.)
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