Abstract
This article introduces new theories of financial contracting, and analyzes critical economic, and public policy issues either not raised or not analyzed fully in current academic and practitioner literature. A series of transactions by Encompass Services Inc. [M. Nwogugu, Corporate Governance, Legal Reasoning And Credit Risk: The Case of Encompass Services Inc., Managerial Auditing Journal 19(9) (2004)], is used to illustrate certain game theory, financial contracting theory and economic policy issues in the context of corporate transactions and financial distress.
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