{"id":"https://openalex.org/W2304667331","doi":"https://doi.org/10.1080/1540496x.2015.1095568","title":"Bond Covenants and the Cost of Debt: Evidence from China","display_name":"Bond Covenants and the Cost of Debt: Evidence from China","publication_year":2015,"publication_date":"2015-11-19","ids":{"openalex":"https://openalex.org/W2304667331","doi":"https://doi.org/10.1080/1540496x.2015.1095568","mag":"2304667331"},"language":"en","primary_location":{"id":"doi:10.1080/1540496x.2015.1095568","doi":"https://doi.org/10.1080/1540496x.2015.1095568","is_oa":false,"landing_page_url":"https://doi.org/10.1080/1540496x.2015.1095568","pdf_url":null,"source":{"id":"https://openalex.org/S166264140","display_name":"Emerging Markets Finance and Trade","issn_l":"1061-2009","issn":["1061-2009","1540-496X","1558-0938"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-40","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":"Emerging Markets Finance and Trade","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/A5102213282","display_name":"Guangming Gong","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I16609230","display_name":"Hunan University","ror":"https://ror.org/05htk5m33","country_code":"CN","type":"education","lineage":["https://openalex.org/I16609230"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Guangming Gong","raw_affiliation_strings":["Business School, Hunan University, Changsha, Hunan Province, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Business School, Hunan University, Changsha, Hunan Province, China","institution_ids":["https://openalex.org/I16609230"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5101242456","display_name":"Si Xu","orcid":"https://orcid.org/0000-0002-6388-9228","observed_orcids":["https://orcid.org/0000-0002-6388-9228"]},"institutions":[{"id":"https://openalex.org/I16609230","display_name":"Hunan University","ror":"https://ror.org/05htk5m33","country_code":"CN","type":"education","lineage":["https://openalex.org/I16609230"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Si Xu","raw_affiliation_strings":["Business School, Hunan University, Changsha, Hunan Province, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Business School, Hunan University, Changsha, Hunan Province, China","institution_ids":["https://openalex.org/I16609230"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5110534531","display_name":"Xun Gong","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I16609230","display_name":"Hunan University","ror":"https://ror.org/05htk5m33","country_code":"CN","type":"education","lineage":["https://openalex.org/I16609230"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Xun Gong","raw_affiliation_strings":["College of Finance and Statistics, Hunan University, Changsha, Hunan Province, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"College of Finance and Statistics, Hunan University, Changsha, Hunan Province, China","institution_ids":["https://openalex.org/I16609230"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5101242456"],"corresponding_institution_ids":["https://openalex.org/I16609230"],"apc_list":null,"apc_paid":null,"fwci":8.8331,"has_fulltext":false,"cited_by_count":21,"citation_normalized_percentile":{"value":0.97382785,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"53","issue":"3","first_page":"587","last_page":"610"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.6772000193595886,"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/T10019","display_name":"Corporate Finance and Governance","score":0.6772000193595886,"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/T11496","display_name":"Credit Risk and Financial Regulations","score":0.30959999561309814,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12509","display_name":"Corporate Insolvency and Governance","score":0.0034000000450760126,"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/bond-covenants","display_name":"bond covenants","score":0.9929999709129333},{"id":"https://openalex.org/keywords/cost-of-debt","display_name":"cost of debt","score":0.9929999709129333},{"id":"https://openalex.org/keywords/principal-agent-problem","display_name":"principal-agent problem","score":0.9309999942779541},{"id":"https://openalex.org/keywords/accounting-quality","display_name":"accounting quality","score":0.9990000128746033},{"id":"https://openalex.org/keywords/state-owned-enterprises","display_name":"state-owned enterprises","score":0.9990000128746033},{"id":"https://openalex.org/keywords/chinese-firms","display_name":"Chinese enterprises","score":0.8519999980926514},{"id":"https://openalex.org/keywords/corporate-debt-financing","display_name":"corporate debt financing","score":0.515999972820282}],"concepts":[{"id":"https://openalex.org/C69738904","wikidata":"https://www.wikidata.org/wiki/Q11693","display_name":"Bond","level":2,"score":0.6572078466415405},{"id":"https://openalex.org/C136800757","wikidata":"https://www.wikidata.org/wiki/Q6335929","display_name":"Covenant","level":2,"score":0.5522682666778564},{"id":"https://openalex.org/C191935318","wikidata":"https://www.wikidata.org/wiki/Q148","display_name":"China","level":2,"score":0.5438092947006226},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5275126099586487},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5023822784423828},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4744506776332855},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.47333887219429016},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.4407598078250885},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2535085678100586},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.13130825757980347},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1080/1540496x.2015.1095568","doi":"https://doi.org/10.1080/1540496x.2015.1095568","is_oa":false,"landing_page_url":"https://doi.org/10.1080/1540496x.2015.1095568","pdf_url":null,"source":{"id":"https://openalex.org/S166264140","display_name":"Emerging Markets Finance and Trade","issn_l":"1061-2009","issn":["1061-2009","1540-496X","1558-0938"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-40","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":"Emerging Markets Finance and Trade","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:mes:emfitr:v:53:y:2017:i:3:p:587-610","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1080/1540496X.2015.1095568","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":48,"referenced_works":["https://openalex.org/W1558603519","https://openalex.org/W1579112106","https://openalex.org/W1592576206","https://openalex.org/W1983105743","https://openalex.org/W1988685596","https://openalex.org/W1989769101","https://openalex.org/W2000578291","https://openalex.org/W2002352750","https://openalex.org/W2003153844","https://openalex.org/W2008362104","https://openalex.org/W2015255255","https://openalex.org/W2062072599","https://openalex.org/W2066365276","https://openalex.org/W2066735350","https://openalex.org/W2076035820","https://openalex.org/W2080061756","https://openalex.org/W2090920573","https://openalex.org/W2098016658","https://openalex.org/W2098910318","https://openalex.org/W2122088748","https://openalex.org/W2132518758","https://openalex.org/W2159906343","https://openalex.org/W2162012454","https://openalex.org/W2164067187","https://openalex.org/W2164426272","https://openalex.org/W2321597487","https://openalex.org/W2527378980","https://openalex.org/W2752617332","https://openalex.org/W3023160244","https://openalex.org/W3121693921","https://openalex.org/W3121771743","https://openalex.org/W3122547505","https://openalex.org/W3122679519","https://openalex.org/W3123033635","https://openalex.org/W3124257397","https://openalex.org/W3124280494","https://openalex.org/W3124599649","https://openalex.org/W3124850003","https://openalex.org/W3125302759","https://openalex.org/W3125688476","https://openalex.org/W3125747951","https://openalex.org/W3125764806","https://openalex.org/W3125916795","https://openalex.org/W3125975775","https://openalex.org/W4241166934","https://openalex.org/W4247459556","https://openalex.org/W4251312355","https://openalex.org/W4256014810"],"related_works":["https://openalex.org/W2062072599","https://openalex.org/W3089052803","https://openalex.org/W2998493659","https://openalex.org/W3125368391","https://openalex.org/W2915855488","https://openalex.org/W1735738254","https://openalex.org/W1574476471","https://openalex.org/W1574884354","https://openalex.org/W3125302759","https://openalex.org/W7098800868"],"abstract_inverted_index":{"We":[0,23],"examine":[1],"how":[2],"the":[3,8,12,27,38,43,52,72,81,89],"use":[4,28],"of":[5,14,20,29,40,54,83],"covenants":[6,33,50,79],"in":[7],"bond":[9],"contract":[10],"affects":[11],"cost":[13,39,53,82],"debt":[15,55,84],"by":[16],"using":[17],"a":[18,60,92],"sample":[19],"Chinese":[21],"firms.":[22],"find":[24],"that":[25],"(1)":[26],"financing-related":[30,47,76],"and":[31,48,51,77,80],"asset-sale":[32,49,78],"is":[34,64,69,91],"negatively":[35],"associated":[36],"with":[37],"debt;":[41],"(2)":[42],"negative":[44,73],"relations":[45,74],"between":[46,75],"are":[56,85],"more":[57],"pronounced":[58],"when":[59],"firm\u2019s":[61],"agency":[62],"conflict":[63],"severe":[65],"or":[66],"accounting":[67],"quality":[68],"high;":[70],"(3)":[71],"significantly":[86],"intensified":[87],"if":[88],"issuer":[90],"state-owned":[93],"enterprise":[94],"(SOE).":[95]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":2}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}
