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Toward More Adequate Measures of Lender Protection

M. Chapman Findlay, III, Edward E. Williams and Lawrence A. Gordon
Financial Management
Vol. 4, No. 3 (Autumn, 1975), pp. 54-61
Published by: Wiley on behalf of the Financial Management Association International
Stable URL: http://www.jstor.org/stable/3665190
Page Count: 8
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Toward More Adequate Measures of Lender Protection
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Abstract

The authors review the origins of popularly employed measures of lender security, pointing out their weaknesses. In response to demonstrated need for improved measures of security they devise several formulations reflecting variability of the borrower's debt service capacity.

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