Creditor structure

Introduction: The creditor structure is here defined by the distribution of debt and by the identity of the creditors. These structures are also of importance in corporate governance because they can determine the incentives of managers and thereby the economic efficiency of the corporations they manage. Two references on creditor structures are Berle [1926], and Stiglitz [1985].

Contents

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