论文笔记 | Creditor Control of Corporate Acquisitions
David A Becher, Thomas P Griffin, Greg Nini, Creditor Control of Corporate Acquisitions, The Review of Financial Studies, 2021;, hhab075, https://doi.org/10.1093/rfs/hhab075本文主要研究了贷款协议中限制借款人并购决定的条款对企业并购的影响,以此探究该条款发挥正面作用(抑制过度投资,缓解代理问题)还是负面作用(限制了NPV 为正的投资)。