Journal Article (Journal Article)

This study examines the covenants contained in a sample of 45 public debentures issued by U.S. corporations. A survey identified six covenants among the debt agreements. Interestingly, none of the sample debt issues included constraints on working capital, net worth or current ratios. Without exception, the covenants noted in the agreements were identical to those reported in Moody's Industrial Manual. Descriptive information on selected characteristics of the debt issues is also provided. © 1989 Accounting and Finance Association of Australia and New Zealand

Full Text

Duke Authors

Cited Authors

  • Francis, J

Published Date

  • January 1, 1989

Published In

Volume / Issue

  • 29 / 2

Start / End Page

  • 31 - 45

Electronic International Standard Serial Number (EISSN)

  • 1467-629X

International Standard Serial Number (ISSN)

  • 0810-5391

Digital Object Identifier (DOI)

  • 10.1111/j.1467-629X.1989.tb00100.x

Citation Source

  • Scopus