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Annual Conference

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Accounting, Senior Fellows/Fellows

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May 2017

CEO Contractual Protection and Debt Contracting

Qiang CHENG, Xia CHEN, Alvis K. LO, Xin WANG
CEO employment agreements and severance pay agreements are prevalent among S&P1500 firms. While prior research has examined their impact on corporate decision from shareholders’ perspective, there is little research on their impact from debtholders’ perspective. We examine the effect on debt...
Keywords: employment agreement, severance pay agreement, debt contracting
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