Cross-border regulatory cooperation and debt choice

Adelaide Dak-Adzaklo and Daniel Kaiser

Economics Letters, 2024, vol. 242, issue C

Abstract: The objective of this study is to examine the role of regulatory oversight in firms’ choice of debt. Using the signing of the Multilateral Memorandum of Understanding (MMoU) as a quasi-natural experiment, we find that enhanced SEC oversight facilitates public debt contracting, especially for firms with severe agency problems. Our study has important implications for both research and practice.

Keywords: SEC oversight; MMoU; Debt choice (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:242:y:2024:i:c:s0165176524003422

DOI: 10.1016/j.econlet.2024.111858

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