Taking No Chances: Lender Monitoring and Managerial Risk-Taking
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DOI: 10.2139/ssrn.3507617
Abstract: Using mergers between firms’ existing lenders as shocks to the incentive and bargaining power to monitor, I find that intensified lender monitoring significantly reduces borrowers’ public takeover activities. The effect is driven by mergers involving… read more here.
Keywords: monitoring managerial; chances lender; risk taking; managerial risk ... See more keywords