Creditor structures

Introduction: This page is the main page for information about creditor structures. These structures are of major importance in corporate governance because they affect the incentives of managers and thereby the efficiency of the firm. The creditor structure is defined by the distribution of debt and by the identity of the creditors. Two references on creditor structures are Berle [1926], and Stiglitz [1985].

Content

• Table: Effects of creditor structures on corporate performance and other other kinds of institutions of relevance for corporate governance.
• Table: International corporate governance - Tentative characterizations of legal and empirical state of large firm creditor structures as of 1980-95: 1) Developing countries. 2) Germany. 3) Japan. 4) Anglo-American countries. 5) Denmark.
• Table: The corporate property rights.