Please use this identifier to cite or link to this item: 192.168.6.56/handle/123456789/105191
Title: Accounting Conservatism and theEfficiency of Debt Contracts
Authors: FRANK GIGLER, CHANDRA KANODIA, HARESH SAPRA, AND RAGHU VENUGOPALAN
Keywords: Accounting Conservatism
Issue Date: 2009
Publisher: University of Chicago
Description: In this paper we examine how accounting conservatism affects the efficiency of debt contracting. We develop the statistical and informational properties of accounting reports under varying degrees of conditional and unconditional accounting conservatism, consistent with Basu’s [1997] description of differential verifiability standards. Optimal debt covenants and interest rates on debt are derived from a natural tension between debt holders and equity claimants.
URI: http://196.189.45.87:8080/handle/123456789/105191
Appears in Collections:Accounting and Finance

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