No excuses, BDCs need to buy back shares, says top analyst

Business development companies can't invest in any assets that provide a better yield than their own shares

TAGS: PennantPark

Comment by: Anonymous. Posted 9 years ago [2015-02-11 00:26:02]

Bock's argument seems qualitatively right to me. But I'd guess that one "excuse" for buying assets rather than the BDC's stock is the incentive scheme. Are senior executives' performances measured by AUM or ROE?