We also document a direct relation between creditor wealth loss and the frequency of issue downgrade by professional rating agencies. Since ratings reflect an issue's covenant structure, this suggests that financial markets respond both to the presence of specific covenants as well as the evaluation of these covenants by external monitors. Since the popularity of collaborative alliances in business appears to be on the rise, the potential for failed alliances may also be increasing. This paper explores patterns of failure in global collaborative alliances from a macro perspective. As a result, workplace drug testing programs have become a serious option for many companies.
Federal guidelines regarding testing and laboratories are in place.
The feasibility of designing a corporate drug testing program that is in compliance with these guidelines is the subject of this paper. Essential features of a corporate workplace drug testing program, viz., the policy, the testing process, and the laboratory contracted to test employees, are detailed from designs suggested in the current literature, and in compliance with federal guidelines. Developing a cost-effective corporate program that meets federal guidelines, stands up to court scrutiny, and is universally accepted by all employees is the objective of a drug testing program.