Would managers who have negotiated debt contracts with accounting-based covenants based around rolling GAAP be relatively more

Question:

Would managers who have negotiated debt contracts with accounting-based covenants based around ‘rolling GAAP’ be relatively more likely to lobby an accounting standard-setter about a proposed accounting standard than would a manager from a firm who has negotiated accounting-based debt covenants that use

‘frozen GAAP’? Why?

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