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Introduction

25 Oct 2022 RDP 2022-05
Kim Nguyen
This influence occurs over and above any direct effect of actual breaches (‘punishing channel’), suggesting that covenants can have far reaching implications for firm behaviour even if breaches remain rare.
https://www.rba.gov.au/publications/rdp/2022/2022-05/introduction.html

The Real Effects of Debt Covenants: Evidence from Australia

25 Oct 2022 RDP 2022-05
Kim Nguyen
This influence occurs over and above any direct effect of actual breaches (‘punishing channel’), suggesting that covenants can have far reaching implications for firm behaviour even if breaches remain rare.
https://www.rba.gov.au/publications/rdp/2022/2022-05/full.html