RDP 2022-05: The Real Effects of Debt Covenants: Evidence from Australia Appendix G: Trends Using Restricted Sample and Breaching Rates

Kim Nguyen

October 2022

Figure G1: Trends in Corporate Debt Covenants
Non-financial listed firms, three-year moving average

Note: (a) Firms that routinely reported debt covenants. Breaching instances and observations with no mention of covenant types were removed.

Sources: Author's calculations; Connect4; Morningstar