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作者：Balachandran, Sudhakar; Mohanram, Partha
作者单位：University of Toronto; Columbia University
摘要：This paper examines the association between conservatism and the value relevance of accounting information over the 1975 through 2004 period. We measure conservatism using approaches developed in Penman and Zhang, The Accounting Review 77:237-264, (2002) and Beaver and Ryan, Journal of Accounting Research 38:127-148, (2000) and value relevance using (1) adjusted R (2) from regressions of price on earnings and book values, (2) adjusted R (2) from regressions of returns on earnings and changes i...
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作者：Pfeiffer, Thomas; Schiller, Ulf; Wagner, Joachim
作者单位：University of Vienna; University of Bern
摘要：This paper compares the performance of alternative cost-based transfer pricing methods. We adopt an incomplete contracting framework with asymmetric information at the trading stage. Transfer pricing guides intra-company trade and provides incentives for value-enhancing specific investments. We compare actual-cost transfer prices that include a markup over marginal costs with standard-cost transfer prices that are determined either by the central office ex ante (centralized standard-cost trans...
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作者：Moser, William; Newberry, Kaye; Puckett, Andy
作者单位：University of Missouri System; University of Missouri Columbia; University of Houston System; University of Houston; University of Tennessee System; University of Tennessee Knoxville
摘要：We examine the relation between accounting-based debt contracts and the economic response of firms with trust preferred stock (TPS) to mandated liability recognition under Financial Accounting Standard (FAS) 150. Our results show that firms' financial covenants significantly affect their choice to redeem versus reclassify their outstanding TPS. Specifically, firms with bank debt covenants that would be adversely impacted by recognizing TPS as a debt liability are 26.88% more likely to redeem t...
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作者：Garcia Lara, Juan Manuel; Garcia Osma, Beatriz; Penalva, Fernando
作者单位：University of Navarra; IESE Business School; Universidad Carlos III de Madrid; Autonomous University of Madrid
摘要：We empirically test the association between conditional conservatism and cost of equity capital. Conditional conservatism imposes stronger verification requirements for the recognition of economic gains than economic losses, resulting in earnings that reflect losses faster than gains. This asymmetric reporting of gains and losses is predicted to lower firm cost of equity capital by increasing bad news reporting precision, thereby reducing information uncertainty (Guay and Verrecchia 2007) and ...
