If management agrees to restrict its ability to wealth away from debtholders perhaps through agreeing not to
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If management agrees to restrict its ability to wealth away from debtholders perhaps through agreeing not to pay dividends; not to take on excessive levels of debt; or not to participate in excessively risky ventures what effect should this have on the cost of debt capital of the firm?
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By agreeing to restrict their ability to transfer wealth away from debtholders this should reduce ...View the full answer
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