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Browsing Centers, Institutes, Programs by Author "Tchistyi, Alexei"
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Negative Hedging: Performance Sensitive Debt and CEOs’ Equity Incentives (CRI 2009-014)
(2009-01-01)We examine the relation between CEOs’ equity incentives and their use of performance-sensitive debt contracts. These contracts require higher or lower interest payments when the borrower's performance deteriorates or ...
