Revolving Asset-Based Lending Contracts and the Resolution of Debt-Related Agency Problems

Artikel

Small firms that do not have access to organized financial markets must often rely on secured commercial loans for their debt financing. In large firms, debt-related agency problems are often resolved through the bond pricing process in the formal debt markets. When these same debt-related agency problems arise in small, private firms, the structure of the secured lending agreement must resolve these problems. This study identifies debt-related agency problems as they exist in private firms and examines howf the lending agreement resolves these problems.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Journal of Small Business Finance ; ISSN: 1057-2287 ; Volume: 1 ; Year: 1991 ; Issue: 1 ; Pages: 15-28 ; Greenwich, CT: JAI Press

Classification and Topics

• Classification: Management ; Firm Performance: Size, Diversification, and Scope ; Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
• Subject: Asset Based Lending ; ABL ; Agency Problem

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Constand, Richard L. ; Osteryoung, Jerome S. ; Nast, Donald A.
• Event: Veröffentlichung
• (who): JAI Press
• (where): Greenwich, CT
• (when): 1991

Further information

• Handle: http://hdl.handle.net/10419/114624
• Last update: 10.03.2025, 11:45 AM CET