Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/114624
Authors: 
Constand, Richard L.
Osteryoung, Jerome S.
Nast, Donald A.
Year of Publication: 
1991
Citation: 
[Journal:] Journal of Small Business Finance [ISSN:] 1057-2287 [Volume:] 1 [Year:] 1991 [Issue:] 1 [Pages:] 15-28
Abstract: 
Small firms that do not have access to organized financial markets must often rely on secured commercial loans for their debt financing. In large firms, debt-related agency problems are often resolved through the bond pricing process in the formal debt markets. When these same debt-related agency problems arise in small, private firms, the structure of the secured lending agreement must resolve these problems. This study identifies debt-related agency problems as they exist in private firms and examines howf the lending agreement resolves these problems.
Subjects: 
Asset Based Lending
ABL
Agency Problem
JEL: 
L25
G32
Document Type: 
Article

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