2026-09-21T00:22:46Zhttps://dspace.mit.edu/server/oai/requestoai:dspace.mit.edu:1721.1/978652026-06-16T18:55:07Zcom_1721.1_7582com_1721.1_7581col_1721.1_131022
Joseph Weber.
Zheng, Kexin, Ph. D. Massachusetts Institute of Technology
Sloan School of Management.
Sloan School of Management
2015-07-17T19:54:49Z
2015-07-17T19:54:49Z
2014
2014
http://hdl.handle.net/1721.1/97865
913786020
Thesis: Ph. D., Massachusetts Institute of Technology, Sloan School of Management, 2014.
Cataloged from PDF version of thesis.
Includes bibliographical references (pages 39-44).
Using a hand-collected sample of private debt contracts between U.S. publicly traded firms and financial institutions, I examine the role of accounting in the renegotiation of debt contracts following a positive shock to the borrower's credit quality. I find that, following a positive shock to their credit quality, firms with more timely reporting of good news are more likely to renegotiate their loan contracts and they do so sooner than firms with less timely good news reporting. Further, these effects are more pronounced for firms whose positive shocks can be more credibly communicated through financial reporting. My paper contributes to the literature on the role of accounting information in debt contract renegotiations.
by Kexin Zheng.
Ph.D.
68 pages
eng
Massachusetts Institute of Technology
M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.
http://dspace.mit.edu/handle/1721.1/7582
Sloan School of Management.
The roll of accounting in debt contract renegotiations : evidence from positive shocks
Thesis
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