Access the full text.
Sign up today, get DeepDyve free for 14 days.
Loading next page...
/lp/springer-journals/is-financial-reporting-shaped-by-equity-markets-or-by-debt-markets-an-4eeA0G0e0Q
References (87)
-
M. C. Jensen (1976)
10.1016/0304-405X(76)90026-XJournal of Financial Economics, 3
-
C. Leuz (2003)
10.1016/S0304-405X(03)00121-1Journal of Financial Economics, 69
-
S. Gray (1980)
10.2307/2490392Journal of Accounting Research, 18
-
R. Ball (2000)
10.1016/S0165-4101(00)00012-4Journal of Accounting & Economics, 29
-
R. M. Bushman (2006)
10.1016/j.jacceco.2005.10.005Journal of Accounting & Economics, 42
-
S. Basu (1997)
10.1016/S0165-4101(97)00014-1Journal of Accounting & Economics, 24
-
R. La Porta, F. Lopez-de-Silanes, A. Shleifer, R. Vishny (1997)
Legal determinants of external financeJournal of Finance, 52
-
P. E. Easton (1989)
10.1016/0165-4101(89)90003-7Journal of Accounting and Economics, 11
-
J. Pae, D. B. Thornton, M. Welker (2005)
The link between earnings conservatism and the price-to-book ratioContemporary Accounting Research, 22
-
J. Pae (2005)
10.1506/9FDN-N6ED-LJE9-A1HLContemporary Accounting Research, 22
-
D. Alexander (2003)
10.1080/0963818031000087934European Accounting Review, 12
-
R. Leftwich (1983)
Accounting information in private markets: Evidence from private lending agreementsThe Accounting Review, 58
-
10.2139/ssrn.438662
-
S. Gray (1980)
International accounting differences from a security analysis perspectiveJournal of Accounting Research, 18
-
R. W. Holthausen, R. L. Watts (2001)
The relevance of the value-relevance literature for financial accounting standard settingJournal of Accounting & Economics, 31
-
A. Ali, L. Hwang (2000)
Country specific factors related to financial reporting and the relevance of accounting dataJournal of Accounting Research, 38
-
R. L. Watts (2003)
Conservatism in accounting part I: Explanations and implicationsAccounting Horizons, 17
-
D. Dhaliwal (1999)
10.1016/S0165-4101(98)00033-0Journal of Accounting and Economics, 26
-
R. Ball (1968)
10.2307/2490232Journal of Accounting Research, 6
-
R. L. Watts (1977)
10.1177/031289627700200104Australian Journal of Management, 2
-
R. Ball, S. P. Kothari, A. Robin (2000)
The effect of international institutional factors on properties of accounting earningsJournal of Accounting & Economics, 29
-
D. Givoly, C. Hayn, A. Natarajan (2007)
Measuring reporting conservatismThe Accounting Review, 82
-
R. La Porta (1998)
10.1086/250042Journal of Political Economy, 106
-
T. Vuolteenaho (2002)
What drives firm-level stock returns?Journal of Finance,, 57
-
R. G. Rajan, L. Zingales (2003)
The great reversals: The politics of financial development in the 20th CenturyJournal of Financial Economics, 69
-
C. Smith, J. Warner (1979)
On financial contracting: An analysis of bond covenantsJournal of Financial Economics, 7
-
J. B. Canning (1929)
The economics of accountancy -
S. Gilman (1939)
Accounting concepts of profit -
R. Ball (1969)
10.2307/2489972Journal of Accounting Research, 7
-
D. Alexander, H. R. Schwencke (2003)
Accounting change in NorwayEuropean Accounting Review, 12
-
R. M. Bushman, J. Piotroski (2006)
Financial reporting incentives for conservative accounting: The influence of legal and political institutionsJournal of Accounting & Economics, 42
-
R. Ball, L. Shivakumar (2006)
The role of accruals in asymmetrically timely gain and loss recognitionJournal of Accounting Research, 42
-
R. M. Bushman (2004)
10.1111/j.1475-679X.2004.00136.xJournal of Accounting Research, 42
-
R. Ball, L. Shivakumar (2005)
Earnings quality in U.K. private firmsJournal of Accounting and Economics, 39
-
R. Ball, A. Robin, J. S. Wu (2003)
Incentives versus standards: Properties of accounting income in four East Asian countries and implications for acceptance of IASJournal of Accounting & Economics, 36
-
A. Shleifer, R. Vishny (1997)
A survey of corporate governanceJournal of Finance, 52
-
M. C. Jensen, W. H. Meckling (1976)
Theory of the Firm: Managerial behavior, agency costs and ownership structureJournal of Financial Economics, 3
-
10.1093/0199260621.003.0005
-
R. L. Watts (2003)
10.2308/acch.2003.17.3.207Accounting Horizons, 17
-
10.1080/00014788.2006.9730040
-
S. P. Kothari, R. G. Sloan (1992)
Information in prices about future earnings: Implications for earnings response coefficientsJournal of Accounting & Economics, 15
-
W. H. Beaver, S. Ryan (2005)
Conditional and unconditional conservatism: Concepts and modelingReview of Accounting Studies, 10
-
R. L. Watts, J. L. Zimmerman (1986)
Positive accounting theory -
D. Schneider (1995)
European financial reporting: A history. -
R. L. Watts (1977)
Corporate financial statements: A product of the market and political processesAustralian Journal of Management, 2
-
D. Givoly (2000)
10.1016/S0165-4101(00)00024-0Journal of Accounting & Economics, 29
-
B. Lev (1989)
On the usefulness of earnings and earnings research: Lessons and directions from two decades of empirical researchJournal of Accounting Research, 27
-
D. Givoly, C. Hayn (2000)
The changing time-series properties of earnings, cash flows and accruals: Has financial reporting become more conservative?Journal of Accounting & Economics, 29
-
M. E. Barth, W. H. Beaver, W. R. Landsman (2001)
The relevance of the value relevance literature for financial accounting standard setting: Another viewJournal of Accounting and Economics, 31
-
R. Ball, P. Brown (1968)
An empirical evaluation of accounting income numbersJournal of Accounting Research, 6
-
R. W. Holthausen (2001)
10.1016/S0165-4101(01)00029-5Journal of Accounting & Economics, 31
-
R. M. Bushman, J. Piotroski, A. J. Smith (2004)
What determines corporate transparencyJournal of Accounting Research, 42
-
A. Shleifer (1997)
10.1111/j.1540-6261.1997.tb04820.xJournal of Finance, 52
-
R. G. Rajan (2003)
10.1016/S0304-405X(03)00125-9Journal of Financial Economics, 69
-
10.2139/ssrn.161911
-
F. Gigler (1998)
10.2307/2491310Journal of Accounting Research, 36
-
S. Basu (1997)
The conservatism principle and asymmetric timeliness of earningsJournal of Accounting & Economics, 24
-
D. W. Collins, S. P. Kothari (1989)
An analysis of intertemporal and cross-sectional determinants of earnings response coefficientsJournal of Accounting and Economics, 11
-
D. W. Collins (1989)
10.1016/0165-4101(89)90004-9Journal of Accounting and Economics, 11
-
C. Leuz, D. Nanda, P. D. Wysocki (2003)
Earnings management and investor protection: An international comparisonJournal of Financial Economics, 69
-
B. Lev (1989)
10.2307/2491070Journal of Accounting Research, 27
-
R. Ball, A. Robin, J. S. Wu (2000)
Accounting standards, the institutional environment and issuer incentives: Effect on accounting conservatism in ChinaAsia Pacific Journal of Accounting and Economics, 7
-
R. Ball, P. Brown (1969)
Portfolio theory and accountingJournal of Accounting Research, 7
-
P. E. Easton, M. E. Zmijewski (1989)
Cross-sectional variation in the stock market response to accounting earnings announcementsJournal of Accounting and Economics, 11
-
R. Ball (2006)
10.1111/j.1475-679X.2006.00198.xJournal of Accounting Research, 42
-
C. Smith (1979)
10.1016/0304-405X(79)90011-4Journal of Financial Economics, 7
-
R. La Porta, F. Lopez-de-Silanes, A. Shleifer, R. Vishny (1998)
Law and financeJournal of Political Economy, 106
-
R. Ball (2000)
10.1080/16081625.2000.10510579Asia Pacific Journal of Accounting and Economics, 7
-
S. Roychowdhury, R. L. Watts (2007)
Asymmetric timeliness of earnings, market-to-book and conservatism in financial reportingJournal of Accounting & Economics, 44
-
M. E. Barth (2001)
10.1016/S0165-4101(01)00019-2Journal of Accounting and Economics, 31
-
10.1353/pfs.2001.0002
-
F. Gigler, T. Hemmer (1998)
On the frequency, quality, and informational role of mandatory financial reportsJournal of Accounting Research, 36
-
S. P. Kothari (1992)
10.1016/0165-4101(92)90016-UJournal of Accounting & Economics, 15
-
A. Ali (2000)
10.2307/2672920Journal of Accounting Research, 38
-
R. Ball (2005)
10.1016/j.jacceco.2004.04.001Journal of Accounting and Economics, 39
-
R. Ball (2003)
10.1016/j.jacceco.2003.10.003Journal of Accounting & Economics, 36
-
V. L. Bernard (1989)
10.2307/2491062Journal of Accounting Research, 27
-
T. Vuolteenaho (2002)
10.1111/1540-6261.00421Journal of Finance,, 57
-
P. Asquith, A. Beatty, J. Weber (2005)
Performance pricing in bank debt contractsJournal of Accounting and Economics, 40
-
D. Dhaliwal, R. Subramanyam, R. Trezevant (1999)
Is comprehensive income superior to net income as a measure of firm performance?Journal of Accounting and Economics, 26
-
S. Roychowdhury (2007)
10.1016/j.jacceco.2006.12.003Journal of Accounting & Economics, 44
-
V. L. Bernard, J. K. Thomas (1989)
Post-earnings-announcement drift: Delayed price response or risk premiumJournal of Accounting Research, 27
-
D. Givoly (2007)
10.2308/accr.2007.82.1.65The Accounting Review, 82
-
R. La Porta (1997)
10.1111/j.1540-6261.1997.tb02727.xJournal of Finance, 52
-
R. J. Chambers (1966)
Accounting, evaluation, and economic behavior -
W. H. Beaver (2005)
10.1007/s11142-005-1532-6Review of Accounting Studies, 10
-
P. Asquith (2005)
10.1016/j.jacceco.2004.09.005Journal of Accounting and Economics, 40
- Publisher
- Springer Journals
- Copyright
- Copyright © 2008 by Springer Science+Business Media, LLC
- Subject
- Business and Management; Accounting/Auditing; Corporate Finance; Public Finance
- ISSN
- 1380-6653
- eISSN
- 1573-7136
- DOI
- 10.1007/s11142-007-9064-x
- Publisher site
- See Article on Publisher Site
Abstract
We hypothesize debt markets—not equity markets—are the primary influence on “association” metrics studied since Ball and Brown (1968 J Account Res 6:159–178). Debt markets demand high scores on timeliness, conservatism and Lev’s (1989 J Account Res 27(supplement):153–192) R 2, because debt covenants utilize reported numbers. Equity markets do not rate financial reporting consistently with these metrics, because (among other things) they control for the total information incorporated in prices. Single-country studies shed little light on debt versus equity influences, in part because within-country firms operate under a homogeneous reporting regime. International data are consistent with our hypothesis. This is a fundamental issue in accounting.
Journal
Review of Accounting Studies – Springer Journals
Published: Jan 4, 2008