debt covenant meaning in English

债务契约

Accounting choice is determined to influence one or more of the firm ' s contractual arrangements . such contractual arrangements include executive compensation agreements and debt covenants , the primary function of which is to alleviate agency costs by better aligning the incentives of the parties . however , depending on the structure of these contracts , ex post accounting choices may be made to increase compensation or to avoid covenant violation
事实上，企业赖以生存的利益相关者不仅仅包括经理人员和股东，债权人、员工、供应商、消费者、政府等，也与企业的利益紧密相关;显然，科斯企业理论及其以后的发展，对企业的认识存在着一定的局限性， “公司是由持有该公司普通股的个人和机构拥有”的传统观点过于狭隘。