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Debt Covenants and Investment: Response to Gulen, Jens, and Page (2020)

SSRN Electronic Journal, 2020
In a recent working paper, "An application of causal forest in corporate finance: How does financing affect investment?" Gulen, Jens, and Page, April 23 2020, (GJP) challenge the analysis and several conclusions of our paper, "How Does Financing Impact Investment? The Role of Debt Covenants," 2008, (CR).
Sudheer Chava, Michael R. Roberts
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Gulen will likely leave a lasting mark on Turkey

Emerald Expert Briefings
Significance Gulen was once an ally of President Recep Tayyip Erdogan but turned into a bitter foe. Their rivalry shaped Turkish politics from the early 2010s, culminating in the 2016 coup attempt, which Erdogan blamed on Gulen’s followers.
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