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Descripción

Prior research on conservative accounting and the bondholder-shareholder conflict show that firms with higher degree of conservatism experience less austere conflict and lower cost of debt. However, since the implementation of IFRS in 2005, conservatism has been widely reduced in favor of fair value principles. This study sets out to examine if accounting conservatism still mitigates the conflict and reduces cost of debt. We regress two measures of conservatism on three conflict proxies and debt cost, respectively, for firms on the Norwegian market. Our results support the conclusion that conservative accounting mitigates the bondholder-shareholder conflict even after the introduction of IFRS, but we find no significant evidence that bondholders reward higher level of conservatism with lower cost of debt.

Contribuyente

Autor Felix Nordlind

Autor Samuel Racana

Información

DUIN 1QRBG8D9HET

GTIN 9783659423529

Fecha de aparición 24.05.2018

Idioma Inglés

Número de páginas 60

Product type Libro de bolsillo

Dimensión 220 x 150  mm

The Effect of Conservatism on Corporate Bonds and Cost of Debt

Felix Nordlind

41,47 €

Vendedor: Dodax EU

Fecha de entrega: entre miércoles, 19. agosto y viernes, 21. agosto

Condición: Nuevo

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41,47 €
IVA incluído - Envío GRATIS