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Using a differences-in-differences research design, we observe a decline in borrowing firms׳ reporting conservatism after CDS trade initiation.
This effect is more pronounced when reputation costs lenders face from reducing monitoring are lower, when debt contracts outstanding at the time of CDS trade initiation have more financial covenants, and when lenders who monitor borrowers more regularly in the pre-CDS period enter into CDS contracts to hedge their credit exposures.
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search and information costs for potential trade partners and initiation of contracts, costs from closing contracts including negotiations and decision-making, costs that appear from monitoring and enforcing contracts, and.
Accordingly, the actors are forced to consider market transaction costs in their decision processes, arising from [34]: search and information costs for potential trade partners and initiation of contracts, costs from closing contracts including negotiations and decision-making, costs that appear from monitoring and enforcing contracts, and costs of making and sustaining social relationships.
Accordingly, the actors are forced to consider market transaction costs in their decision processes, arising from [ 34]: search and information costs for potential trade partners and initiation of contracts, costs from closing contracts including negotiations and decision-making, costs that appear from monitoring and enforcing contracts, and costs of making and sustaining social relationships.
The latter aims to compress the irresolvable roughness of rupture front, which is not well constrained because of the intrinsic trade-off between rupture initiation time and starting time (Ji et al., 2003).
This paper investigates whether the initiation of trading in credit default swaps (CDSs) on a borrowing firm׳s outstanding debt is associated with a decline in that firm׳s reporting conservatism.
An important Aboriginal site where tribal people would gather to trade and hold weddings and initiation ceremonies, it was a hideaway for 19th-century bushrangers such as the notorious Dan "Mad Dog" Morgan.
Once the audience members arrive at the apartment, they witness Mary's quick, brutal initiation into her new trade.
Trade unions in Western Europe initially emphasized concerns about a 'race to the bottom' and 'social dumping' following the increase of foreign labour after the initiation of free movement of workers and services within the EU.
Among Turkic peoples, the same term (bakhshi) may be used for both shamans and bards, and both may be called to their trade by spirits to undergo a difficult period of initiation.
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