A Debt Covenant Rationale for a Market Reaction to a Mandated Accounting Change
Author: Thomas J. Linsmeier
Publisher:
Published: 1985
Total Pages: 266
ISBN-13:
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Author: Thomas J. Linsmeier
Publisher:
Published: 1985
Total Pages: 266
ISBN-13:
DOWNLOAD EBOOKAuthor: Na Li
Publisher:
Published: 2014
Total Pages:
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DOWNLOAD EBOOKAuthor: Ping Wang
Publisher:
Published: 2019
Total Pages: 18
ISBN-13:
DOWNLOAD EBOOKThis study examines whether disclosures of the terms of accounting-based debt covenants affect shareholder wealth. Specifically, I focus on market reaction at the time of the announcement of technical default. I find that firms that disclosed the terms of the covenants in prior Securities and Exchange Commission (SEC) filings experience less negative price response during the three-day window surrounding the announcements. I also provide evidence that the market reaction to technical default varies systematically with the size of the debt contract over total liabilities, which I use as a proxy for the materiality of the contract. Further analyses show that through such disclosure, first, there is less shareholder wealth loss, in particular, at firms where the contracts are less material, and, second, the relation between market reaction to technical default and the materiality of the contract is significant only when the contracts are material. These findings have financial reporting implications for standard setters.
Author: Gary Previts
Publisher: Elsevier
Published: 2004-09-17
Total Pages: 347
ISBN-13: 0080545459
DOWNLOAD EBOOKThe scope of service provided by professional accountants is influenced by legislation and case law as well as the dictates of a variety of government and private sector agencies: including State Boards of Accountancy, Academic Accreditation Bodies, the United States Securities and Exchange Commission, the Public Company Accounting Oversight Board, independent standard setting bodies such as the Federal Accounting Standards Advisory Board (US), the Financial Accounting Standards Board (US), the International Accounting Standards Board and self-regulatory organizations such as State Societies of CPA and the American Institute of Certified Public Accountants. There are equivalent and emerging local international bodies that exist in most developed countries. It is important for academics, students, practitioners, regulators and researchers to consider, study and understand the role and relationship of such bodies with the practice and content of our discipline. Research in Accounting Regulation is a refereed annual serial that seeks to publish high quality manuscripts, which address regulatory issues and policy affecting the practice of accountancy, broadly defined. Topics of interest include research based on: 1) Self-regulatory activities. 2) Case law and litigation. 3) Governmental and quasi-governmental regulation. 4) The economics of regulation, including modelling. This research series aims to encourage the submission of original empirical, behavioural or applied research manuscripts that consider strategic and policy implications for regulation, regulatory models and markets. It is intended for individual researchers, practitioners, regulators and students of accountancy who desire to increase their understanding of the regulation of accountancy.
Author: victor l. bernard
Publisher:
Published: 1987
Total Pages: 68
ISBN-13:
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Publisher:
Published: 2003
Total Pages: 580
ISBN-13:
DOWNLOAD EBOOKAuthor: University of Rochester. Graduate School of Management
Publisher:
Published: 1996
Total Pages: 818
ISBN-13:
DOWNLOAD EBOOKAuthor: Harry I. Wolk
Publisher: SAGE Publications
Published: 2016-06-04
Total Pages: 605
ISBN-13: 1483375048
DOWNLOAD EBOOKThis updated Ninth Edition of Accounting Theory: Conceptual Issues in a Political and Economic Environment continues to be one of the most relevant and comprehensive texts on accounting theory. Authors Harry I. Wolk, James L. Dodd, John J. Rozycki provide a critical overview of accounting as a whole as well as touch on the financial issues in economic and political contexts, providing readers with an understanding of how current United States accounting standards were derived and where we might be headed in the future. Readers will find learning tools such as questions, cases, problems and writing assignments to solidify their understanding of accounting theory and gain new insights into this evolving field.
Author:
Publisher:
Published: 1986
Total Pages: 1120
ISBN-13:
DOWNLOAD EBOOKAuthor: Gerald I. White
Publisher: John Wiley & Sons
Published: 2002-12-30
Total Pages: 786
ISBN-13: 0471375942
DOWNLOAD EBOOKAccounting Standards (US and International) have been updated to reflect the latest pronouncements. * An increased international focus with more coverage of IASC and non-US GAAPs and more non-US examples.