| 书目名称 | Covenants and Third-Party Creditors |
| 副标题 | Empirical and Law & |
| 编辑 | Daniela Matri |
| 视频video | http://file.papertrans.cn/240/239194/239194.mp4 |
| 概述 | Introduces readers to the world of covenants and their interrelationship with insolvency law and property law.Pursues an interdisciplinary approach.Closes a research gap concerning the influence of co |
| 图书封面 |  |
| 描述 | .This book adds to the debate on the effects of covenants on third-party creditors (externalities), which have recently become a focus of discussion in the contexts of bankruptcy law, corporate law and corporate governance. The general thrust of the debate is that negative effects on third-party creditors predominate because banks act in their own self-interest..After systematising the debated potential positive and negative externalities of covenants, the book empirically examines these externalities: It investigates the banks’ factual conduct and its effects on third-party creditors in Germany and the US. The study’s most significant outcome is that it disproves the assumption that banks disregard third-party creditors’ interests..These findings are then interpreted with the tools of economic analysis; particularly, with the concept of common pool resources (CPRs). Around the aggregated value of the debtor company’s asset pool (as CPR) exists an n-person prisoner’s dilemma between banks and third-party creditors: No creditor knows when and under what conditions the other creditor will appropriate funds from the debtor company’s asset pool. This coordination problem is traditional |
| 出版日期 | Book 2017 |
| 关键词 | Covenants; Creditors; Tragedy of the Commons; Externalities; Insolvency law; Externality; Credit law; Credi |
| 版次 | 1 |
| doi | https://doi.org/10.1007/978-3-319-62036-7 |
| isbn_softcover | 978-3-319-87218-6 |
| isbn_ebook | 978-3-319-62036-7 |
| copyright | Springer International Publishing AG 2017 |
|Archiver|手机版|小黑屋|
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