Brownbag Lunch with Hue Hwa Au Yong
This event is part of the Finance Seminar Series series.
Location:
Gerri C. LeBow Hall1139
3220 Market Street
Philadelphia, PA 19104
Registration Option:
We investigate whether executive compensation can serve as a governance mechanism for reducing debt covenant violations. We show that firms are significantly less likely to violate debt covenants when their CEOs hold more inside debt (defined-benefit pensions and deferred compensation) relative to equity.