The influence of banks and other private lenders pervades public companies. From the first day of a lending arrangement, loan covenants and built-in contingency provisions affect managerial decisionmaking. Conventional corporate governance analysis has been slow to notice or account for this lender influence. Traditionally, corporate governance discourse has focused only on corporate law...
October 29, 2009
Leverage in the Board Room: The Unsung Influence of Private Lenders in Corporate Governance
29October