Monday 16 February 2015

OECD corporate governance working paper published - corporate bonds, bondholders and corporate governance

The sixteenth paper in the OECD Corporate Governance Working Paper series, titled Corporate Bonds, Bondholders and Corporate Governance, has been published: see here (pdf). The authors suggest, through building a 'covenant protection index', that bond investors have, overall, traded governance rights for higher expected returns. Earlier papers in the series are available here.

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