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generally receive fixed payments regardless of how well the firm does, while nvestments in select

ventures, that have great payoffs to stockholders if successful but threaten bar dditional - Select-

increases stockholder/debtholder conflicts. Consequently, bondholders atteren bankruptcy if they fail, create conflicts. In addition, the use of greements that limit firms' use of additional and constrain ] actions. in bond

generally receive fixed payments regardless of how well the firm does, while ivestments in ventures, that have great payoffs to stockholders if successful but dditional threaten bankruptcy if they fail, create conflicts. In addition, the use of greements that limit firms' use of additional and constrain actions. in bond