SSRN-Inside Debt and the Design of Corporate Debt Contracts by Divya Anantharaman, Vivian Fang, Guojin Gong

A preview of one of the papers we will be mentioning in class next week:SSRN-Inside Debt and the Design of Corporate Debt Contracts by Divya Anantharaman, Vivian Fang, Guojin Gong: "Agency theory posits that debt-like compensation (such as defined-benefit pensions and other deferred compensation) aligns managerial interests more closely with those of debtholders and reduces the agency cost of