Analiza kowenantów w obligacjach korporacyjnych emitowanych przez niebankowe spółki z branży finansowej

The increasing importance of the long term corporate bonds as a source of financing of Polish enterprises contributes to the growing importance of the issue terms in determining the risk of investing in bonds. The aim of this study was to assess the quality of covenants used in the bond contracts by identifying the factors that determine the number of covenants contained in the issue terms, the determination of the grounds of the conflict between shareholders and bondholders, which are usually covered by covenants and to conduct analysis of the characteristics of financial ratios, which are used as financial covenants.Artykuł nie zawiera abstraktu w języku polski