作者：Chy, Mahfuz; Khurana, Inder K.; Kyung, Hoyoun
作者单位：University of Missouri System; University of Missouri Columbia
摘要：We examine the effect of the Securities and Exchange Commission's (SEC) regulatory oversight on private debt contracting outcomes, using the signing of the multilateral memorandum of understanding (MMoU) as a natural experiment. The MMoU enables the SEC to take stricter punitive actions against wealth expropriation by cross-listed firms' insiders and enforce better compliance with applicable rules and regulations. We find that enhanced SEC oversight in the post-MMoU regime lowers loan spreads ...
