Rajan is at the Graduate School of Business, University of Chicago. Winton is at the J.L. Kellogg Graduate School of Management, Northwestern University. Part of our research was funded by a grant from the Banking Research Center at Northwestern University. Rajan also thanks the Center for Research on Securities Prices and the William Ladany Fellowship for financial support. Ben Wilner provided valuable research assistance. In addition, we are grateful to Daniel Beneish, Dave Brown, Mike Fishman, Mark Flannery, Stuart Greenbaum, Joe Haubrich, Chris James, Jeff Lacker, Stan Longhofer, Helena Mullins, Anjan Thakor, Subu Venkataraman, John Weinberg, and seminar participants at Duke University, Northwestern University, the Universities of Florida and Minnesota, the Federal Reserve Banks of Philadelphia and Richmond, and the 1994 Northern Finance Association and Western Finance Association Meetings for their comments and advice. All errors remain our responsibility.
Covenants and Collateral as Incentives to Monitor
Article first published online: 30 APR 2012
1995 The American Finance Association
The Journal of Finance
Volume 50, Issue 4, pages 1113–1146, September 1995
How to Cite
RAJAN, R. and WINTON, A. (1995), Covenants and Collateral as Incentives to Monitor. The Journal of Finance, 50: 1113–1146. doi: 10.1111/j.1540-6261.1995.tb04052.x
- Issue published online: 30 APR 2012
- Article first published online: 30 APR 2012
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