Covenants and Collateral as Incentives to Monitor

Financial Intermediation and Delegated Monitoring

1984 • 8,226 citations

The Benefits of Lending Relationships: Evidence from Small Business Data

1994 • 5,085 citations

INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION

1977 • 4,200 citations

Informational Asymmetries, Financial Structure, and Financial Intermediation

1977 • 3,499 citations

Monitoring and Reputation: The Choice between Bank Loans and Directly Placed Debt

1991 • 3,300 citations

On financial contracting

1979 • 3,013 citations

What's different about banks?

1985 • 2,350 citations

Debt Maturity Structure and Liquidity Risk

1991 • 1,735 citations

Some evidence on the uniqueness of bank loans

1987 • 1,688 citations

The Maturity Structure of Corporate Debt

1995 • 1,679 citations

Collateral and Rationing: Sorting Equilibria in Monopolistic and Competitive Credit Markets

1987 • 979 citations

Further evidence on the bank lending process and the capital-market response to bank loan agreements

1989 • 966 citations

Equilibrium Selection in Signaling Games

1987 • 940 citations

A Theory of Debt and Equity: Diversity of Securities and Manager-Shareholder Congruence

1994 • 847 citations

An analysis of secured debt

1985 • 685 citations

Seniority and maturity of debt contracts

1993 • 682 citations

A Theory of Workouts and the Effects of Reorganization Law*

1991 • 668 citations

Secured Lending and Default Risk: Equilibrium Analysis, Policy Implications and Empirical Results

1991 • 525 citations

Information Production, Market Signalling, and the Theory of Financial Intermediation

1980 • 524 citations

Short-Term versus Long-Term Interests: Capital Structure with Multiple Investors

1994 • 459 citations

Debt covenants and renegotiation

1992 • 422 citations

Security Interests, Misbehavior, and Common Pools

1992 • 335 citations

Credit Market Equilibrium with Bank Monitoring and Moral Hazard

1993 • 322 citations

Commercial paper, corporate finance, and the business cycle: a microeconomic perspective

1995 • 286 citations

Creditors' decisions to waive violations of accounting-based debt covenants

1993 • 232 citations

The Paradox of Liquidity

1995 • 186 citations

Costly State Verification and Multiple Investors: The Role of Seniority

1995 • 162 citations

The information content of distressed restructurings involving public and private debt claims

1993 • 127 citations

The Design of Internal Control and Capital Structure

1996 • 87 citations

The Role of Games in Security Design

1995 • 73 citations

Private vs. Public Lending: Evidence from Covenants

1993 • 29 citations

Consumer and Commercial Credit Management

1976 • 28 citations

The economics of the private placement market(summary of staff study 166)

1994 • 27 citations

Interrelation Among Events of Default

1994 • 12 citations

Liars Never Prosper? How Management Misrepresentation Reduces Monitoring Costs

1994 • 5 citations