The role and rights of debtholders in corporate governance

Caio de Oliveira, Carl Magnus Magnusson and Tugba Mulazimoglu
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Caio de Oliveira: OECD
Carl Magnus Magnusson: OECD
Tugba Mulazimoglu: OECD

No 23, OECD Corporate Governance Working Papers from OECD Publishing

Abstract: This paper provides an overview of developments in non-financial corporate bond markets over the past two decades with respect to their size and credit quality, as well as trends related to insolvency and restructuring. It then explores the role of bondholders in corporate governance, both in normal times and in times of financial distress, and the governance implications of longstanding increases in bond financing by the non-financial sector. In particular, challenges related to bondholder rights, corporate disclosure, the responsibilities of corporate boards, institutional investors and insolvency are discussed.

Date: 2022-09-15
New Economics Papers: this item is included in nep-cfn and nep-law
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Persistent link: https://EconPapers.repec.org/RePEc:oec:dafaae:23-en

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