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Essays on accounting conservatism.

Kim, Bong Hwan.

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Essays on accounting conservatism.

紀錄類型:	書目-語言資料,印刷品 : Monograph/item
正題名/作者:	Essays on accounting conservatism./
作者:	Kim, Bong Hwan.
面頁冊數:	165 p.
附註:	Source: Dissertation Abstracts International, Volume: 71-07, Section: A, page: 2532.
Contained By:	Dissertation Abstracts International71-07A.
標題:	Business Administration, Accounting. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3409389
ISBN:	9781124068558

Essays on accounting conservatism.
Kim, Bong Hwan.

Essays on accounting conservatism. - 165 p.

Source: Dissertation Abstracts International, Volume: 71-07, Section: A, page: 2532.

Thesis (Ph.D.)--Washington University in St. Louis, 2010.

I examine the role of accounting conservatism in the debt market and equity market. In the first essay I examine whether post-borrowing accounting conservatism is related to initial debt-covenant slack. I find firms with low debt-covenant slack display a smaller increase in conservatism after borrowing compared to firms with high debt-covenant slack. I further find that this relation is more pronounced when the cost of debt-covenant breach is greater and is less pronounced when lenders have stronger monitoring incentives. This study supports the debt covenant hypothesis. The second essay investigates the impact of financial market competition on a firm's choice regarding accounting quality (co-authored). The estimates indicate that foreign bank entry is associated with improved accounting quality among firms, and this improvement is positively related to a firm's subsequent debt level. The increase in accounting quality is also greatest among private firms, smaller firms, less profitable firms, and firms more dependent on external financing. The third essay investigates whether conditional accounting conservatism has informational benefits to shareholders (co-authored). We find some evidence that higher current conditional conservatism is associated with lower probability of future bad news. We also find weak evidence that the stock market reacts stronger (weaker) to good (bad) earnings news of more conditionally conservative firms. Thus, we provide additional evidence that conditional conservatism affects stock prices.

ISBN: 9781124068558Subjects--Topical Terms:

1020666
Business Administration, Accounting.

Essays on accounting conservatism.
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520 $a I examine the role of accounting conservatism in the debt market and equity market. In the first essay I examine whether post-borrowing accounting conservatism is related to initial debt-covenant slack. I find firms with low debt-covenant slack display a smaller increase in conservatism after borrowing compared to firms with high debt-covenant slack. I further find that this relation is more pronounced when the cost of debt-covenant breach is greater and is less pronounced when lenders have stronger monitoring incentives. This study supports the debt covenant hypothesis. The second essay investigates the impact of financial market competition on a firm's choice regarding accounting quality (co-authored). The estimates indicate that foreign bank entry is associated with improved accounting quality among firms, and this improvement is positively related to a firm's subsequent debt level. The increase in accounting quality is also greatest among private firms, smaller firms, less profitable firms, and firms more dependent on external financing. The third essay investigates whether conditional accounting conservatism has informational benefits to shareholders (co-authored). We find some evidence that higher current conditional conservatism is associated with lower probability of future bad news. We also find weak evidence that the stock market reacts stronger (weaker) to good (bad) earnings news of more conditionally conservative firms. Thus, we provide additional evidence that conditional conservatism affects stock prices.
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