{"id":"https://openalex.org/W1985803175","doi":"https://doi.org/10.1080/00014788.1995.9729937","title":"The Incidence of Accounting-based Covenants in UK Public Debt Contracts: An Empirical Analysis","display_name":"The Incidence of Accounting-based Covenants in UK Public Debt Contracts: An Empirical Analysis","publication_year":1995,"publication_date":"1995-06-01","ids":{"openalex":"https://openalex.org/W1985803175","doi":"https://doi.org/10.1080/00014788.1995.9729937","mag":"1985803175"},"language":"en","primary_location":{"id":"doi:10.1080/00014788.1995.9729937","doi":"https://doi.org/10.1080/00014788.1995.9729937","is_oa":false,"landing_page_url":"https://doi.org/10.1080/00014788.1995.9729937","pdf_url":null,"source":{"id":"https://openalex.org/S323237","display_name":"Accounting and Business Research","issn_l":"0001-4788","issn":["0001-4788","2159-4260"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Accounting and Business Research","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5054355777","display_name":"David B. Citron","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I180825142","display_name":"City, University of London","ror":"https://ror.org/04489at23","country_code":"GB","type":"education","lineage":["https://openalex.org/I124357947","https://openalex.org/I180825142","https://openalex.org/I4401726869"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"David B. Citron","raw_affiliation_strings":["City University Business School"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"City University Business School","institution_ids":["https://openalex.org/I180825142"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5054355777"],"corresponding_institution_ids":["https://openalex.org/I180825142"],"apc_list":{"value":2970,"currency":"USD","value_usd":2970},"apc_paid":null,"fwci":11.4416,"has_fulltext":false,"cited_by_count":35,"citation_normalized_percentile":{"value":0.97672772,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":97},"biblio":{"volume":"25","issue":"99","first_page":"139","last_page":"150"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.6830999851226807,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.6830999851226807,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.17180000245571136,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13366","display_name":"Accounting Theory and Financial Reporting","score":0.05299999937415123,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/accounting-policy","display_name":"accounting policy","score":0.4309999942779541},{"id":"https://openalex.org/keywords/loan-agreement","display_name":"loan agreement","score":0.3580000102519989},{"id":"https://openalex.org/keywords/insolvency-protection","display_name":"insolvency protection","score":0.48500001430511475},{"id":"https://openalex.org/keywords/secured-creditors","display_name":"secured creditors","score":0.8220000267028809},{"id":"https://openalex.org/keywords/unsecured-debt","display_name":"unsecured debt","score":0.7369999885559082},{"id":"https://openalex.org/keywords/convertibility","display_name":"convertibility","score":0.6420000195503235},{"id":"https://openalex.org/keywords/subordination","display_name":"subordination","score":0.8730000257492065},{"id":"https://openalex.org/keywords/debt-securities","display_name":"debt securities","score":0.5799999833106995},{"id":"https://openalex.org/keywords/uk-us-comparison","display_name":"United States and United Kingdom comparison","score":0.4659999907016754}],"concepts":[{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.7317463159561157},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5967225432395935},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5857931971549988},{"id":"https://openalex.org/C4163816","wikidata":"https://www.wikidata.org/wiki/Q757382","display_name":"Insolvency","level":2,"score":0.4467044770717621},{"id":"https://openalex.org/C136800757","wikidata":"https://www.wikidata.org/wiki/Q6335929","display_name":"Covenant","level":2,"score":0.434232622385025},{"id":"https://openalex.org/C190832808","wikidata":"https://www.wikidata.org/wiki/Q1900567","display_name":"Mark-to-market accounting","level":4,"score":0.4199759364128113},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3585798144340515},{"id":"https://openalex.org/C163867264","wikidata":"https://www.wikidata.org/wiki/Q4672792","display_name":"Accounting information system","level":2,"score":0.336172491312027},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3103277087211609},{"id":"https://openalex.org/C544937707","wikidata":"https://www.wikidata.org/wiki/Q949180","display_name":"Financial accounting","level":3,"score":0.2701890170574188},{"id":"https://openalex.org/C27206212","wikidata":"https://www.wikidata.org/wiki/Q34178","display_name":"Theology","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1080/00014788.1995.9729937","doi":"https://doi.org/10.1080/00014788.1995.9729937","is_oa":false,"landing_page_url":"https://doi.org/10.1080/00014788.1995.9729937","pdf_url":null,"source":{"id":"https://openalex.org/S323237","display_name":"Accounting and Business Research","issn_l":"0001-4788","issn":["0001-4788","2159-4260"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Accounting and Business Research","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.46000000834465027,"id":"https://metadata.un.org/sdg/17","display_name":"Partnerships for the goals"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":32,"referenced_works":["https://openalex.org/W72022560","https://openalex.org/W90237356","https://openalex.org/W1488602824","https://openalex.org/W1492155385","https://openalex.org/W1515531634","https://openalex.org/W1523000468","https://openalex.org/W1545217247","https://openalex.org/W1566936261","https://openalex.org/W1574884354","https://openalex.org/W1579112106","https://openalex.org/W1963839882","https://openalex.org/W1977704037","https://openalex.org/W1987704442","https://openalex.org/W1989146244","https://openalex.org/W2000578291","https://openalex.org/W2002664886","https://openalex.org/W2010149824","https://openalex.org/W2014639586","https://openalex.org/W2015435379","https://openalex.org/W2020970716","https://openalex.org/W2022898577","https://openalex.org/W2034900781","https://openalex.org/W2048219031","https://openalex.org/W2048534553","https://openalex.org/W2065868937","https://openalex.org/W2087223630","https://openalex.org/W2089596717","https://openalex.org/W2106000037","https://openalex.org/W2129693430","https://openalex.org/W2130392613","https://openalex.org/W2752617332","https://openalex.org/W4255478999"],"related_works":["https://openalex.org/W4240300440","https://openalex.org/W2382921683","https://openalex.org/W3201160899","https://openalex.org/W1503446519","https://openalex.org/W2002352750","https://openalex.org/W2015255255","https://openalex.org/W7097436024","https://openalex.org/W2014242805","https://openalex.org/W2152587277","https://openalex.org/W1989146244"],"abstract_inverted_index":{"Accounting-based":[0],"covenants":[1,37,84,126,172,196],"are":[2,60,107,127,147],"of":[3,11,35,50,58,82,88,108,179],"particular":[4],"interest":[5],"to":[6,14,23,119,149,153,194],"accounting":[7,17,25,201],"researchers":[8],"in":[9,38,98,142],"view":[10],"their":[12,21],"potential":[13],"influence":[15,199],"management's":[16,200],"policy":[18],"choices":[19],"and":[20,72,85,92,112,133,173],"attitudes":[22],"new":[24],"standards.":[26],"This":[27,203],"exploratory":[28],"paper":[29,76,204],"provides":[30,205],"evidence":[31],"on":[32,65,176],"the":[33,45,51,56,66,70,73,75,80,89,99,155,162,177,180],"incidence":[34],"accounting-based":[36,83,125,158],"108":[39],"UK":[40,71,102,113],"public":[41,105],"debt":[42,100,106,132,163,188],"contracts":[43],"for":[44,139,157,209],"period":[46],"1987-1990.":[47],"Thirty":[48],"percent":[49],"agreements":[52,189],"contain":[53,195],"such":[54],"covenants,":[55,159],"majority":[57],"which":[59],"affirmative":[61],"gearing":[62],"covenants.":[63],"Focusing":[64],"institutional":[67],"differences":[68],"between":[69,79,169],"US,":[74],"examines":[77],"relationships":[78],"presence":[81],"(a)":[86],"characteristics":[87],"issuing":[90],"firm,":[91],"(b)":[93],"other":[94],"control":[95],"mechanisms":[96],"included":[97],"agreement.":[101],"firms":[103,135],"raising":[104],"good":[109],"credit":[110],"quality":[111],"insolvency":[114],"procedures":[115],"afford":[116],"unambiguous":[117],"protection":[118],"secured":[120],"creditors.":[121],"As":[122],"a":[123,206],"result,":[124],"associated":[128],"with":[129,134,144],"long-term":[130],"unsecured":[131],"having":[136],"high":[137],"values":[138],"assets-in-place":[140],"but,":[141],"contrast":[143],"US":[145],"findings,":[146],"unrelated":[148],"gearing.":[150],"Convertibility":[151],"appears":[152],"reduce":[154],"need":[156],"especially":[160],"when":[161],"is":[164],"also":[165],"subordinated.":[166],"The":[167],"relationship":[168],"accounting-":[170],"based":[171],"security":[174,181],"depends":[175],"nature":[178],"(fixed":[182],"or":[183],"floating).":[184],"Longer":[185],"term":[186],"non-convertible":[187],"are,":[190],"therefore,":[191],"particularly":[192],"likely":[193],"that":[197],"could":[198],"behaviour.":[202],"starting":[207],"point":[208],"further":[210],"research":[211],"into":[212],"these":[213],"issues.":[214]},"counts_by_year":[{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":3}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2016-06-24T00:00:00"}