Cook, Douglas O; Easterwood, John C - In: Journal of Finance 49 (1994) 5, pp. 1905-20
This article examines the effect of issuing debt with and without 'poison put' covenants on outstanding debt and equity claims for the period 1988 to 1989. The analysis shows that poison put covenants affect stockholders negatively and outstanding bondholders positively, while debt issued...