THE ROLE OF COVENANTS IN THE FINANCING OF INNOVATIVE COMPANIES

Abstract

Purpose: the article examines the use of covenants to improve the investment attractiveness of innovative companies and at the same time enhance reliability of investments of investors. Discussion: a complex conjuncture of the Russian economy in recent years has provoked an increase in applications by creditors to the judiciary to determine the size of their claims; in these conditions, it is necessary to implement the financial mechanism of protection of the rights of economic agents. Results: in article the author's definition of covenants, the advantages and disadvantages of the considered category and studied Russian and foreign experience of using of covenants.