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Creditor control rights and board independence

Bibliographic Details
Main Author: Ferreira, Daniel
Publication Date: 2018
Other Authors: Ferreira, Miguel A., Mariano, Beatriz
Format: Article
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: https://doi.org/10.1111/jofi.12692
Summary: Funding agency: European Research Council
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spelling Creditor control rights and board independenceAccountingFinanceEconomics and EconometricsFunding agency: European Research CouncilWe find that the number of independent directors on corporate boards increases by approximately 24% following financial covenant violations in credit agreements. Most of these new directors have links to creditors. Firms that appoint new directors after violations are more likely to issue new equity, and to decrease payout, operational risk, and CEO cash compensation, than firms without such appointments. We conclude that a firm's board composition, governance, and policies are shaped by current and past credit agreements.NOVA School of Business and Economics (NOVA SBE)RUNFerreira, DanielFerreira, Miguel A.Mariano, Beatriz2023-06-01T00:32:01Z2018-102018-10-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://doi.org/10.1111/jofi.12692eng0022-1082PURE: 5667344http://www.scopus.com/inward/record.url?scp=85050400216&partnerID=8YFLogxKhttps://doi.org/10.1111/jofi.12692info:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2024-05-22T17:41:36Zoai:run.unl.pt:10362/83732Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-28T17:12:45.042691Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv Creditor control rights and board independence
title Creditor control rights and board independence
spellingShingle Creditor control rights and board independence
Ferreira, Daniel
Accounting
Finance
Economics and Econometrics
title_short Creditor control rights and board independence
title_full Creditor control rights and board independence
title_fullStr Creditor control rights and board independence
title_full_unstemmed Creditor control rights and board independence
title_sort Creditor control rights and board independence
author Ferreira, Daniel
author_facet Ferreira, Daniel
Ferreira, Miguel A.
Mariano, Beatriz
author_role author
author2 Ferreira, Miguel A.
Mariano, Beatriz
author2_role author
author
dc.contributor.none.fl_str_mv NOVA School of Business and Economics (NOVA SBE)
RUN
dc.contributor.author.fl_str_mv Ferreira, Daniel
Ferreira, Miguel A.
Mariano, Beatriz
dc.subject.por.fl_str_mv Accounting
Finance
Economics and Econometrics
topic Accounting
Finance
Economics and Econometrics
description Funding agency: European Research Council
publishDate 2018
dc.date.none.fl_str_mv 2018-10
2018-10-01T00:00:00Z
2023-06-01T00:32:01Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
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dc.identifier.uri.fl_str_mv https://doi.org/10.1111/jofi.12692
url https://doi.org/10.1111/jofi.12692
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 0022-1082
PURE: 5667344
http://www.scopus.com/inward/record.url?scp=85050400216&partnerID=8YFLogxK
https://doi.org/10.1111/jofi.12692
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