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Introduction
25 Oct 2022
RDP
2022-05
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
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