Accounting Conservatism and Debt Contracts: Efficient Liquidation and Covenant Renegotiation

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  • Accepted by Raff Indjejikian. This paper is based on the first chapter of my dissertation at Columbia University. I am especially indebted to Tim Baldenius for his guidance and encouragement of the project. I would also like to thank Patrick Bolton, Hui Chen, Bjorn Jorgensen, Nahum Malumad, Xiaojing Meng, Stephen Penman, Stefan Reichelstein, Gil Sadka and two anonymous referees for their helpful comments and suggestions. This paper also benefits from the workshop participants at Carnegie Mellon University, University of Pennsylvania, and Purdue University. Any errors are my own.

  • Accepted by Raff Indjejikian. This paper is based on the first chapter of my dissertation at Columbia University. I am especially indebted to Tim Baldenius for his guidance and encouragement of the project. I would also like to thank Patrick Bolton, Hui Chen, Bjorn Jorgensen, Nahum Malumad, Xiaojing Meng, Stephen Penman, Stefan Reichelstein, Gil Sadka and two anonymous referees for their helpful comments and suggestions. This paper also benefits from the workshop participants at Carnegie Mellon University, University of Pennsylvania, and Purdue University. Any errors are my own.

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