Auditor choice and the cost of debt capital for newly public firms

Article Abstract:

A study examines whether engaging a Big Six auditor, which has a brand name reputation for supplying a higher-quality audit that enhances the credibility of financial statements, enables young firms to reduce their borrowing costs. It is found that economic value of auditor reputation to the cost of credit declines over time as borrowers gradually shift toward relying on their own reputations to moderate information asymmetry.

Other General Government Support, Capital funds & cash flow, Government Enterprises-Total Govt, Accounting and auditing, Government business enterprises, Public enterprises, Revolving funds

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Testing the relative power of accounting standards versus incentives and other institutional features to influence the outcome of financial reporting in an international setting

Article Abstract:

The relationship between accounting standards and the structure of other institutions on the attributes of financial reporting system is investigated. Evidence found is consistent with the hypothesis that beyond accounting standards, the structure of other institutions, such as incentives of prepares and auditors; enforcement mechanism and ownership structure affects the outcome of financial reporting system.

Product standards, safety, & recalls, Financial Services, Finance and Insurance, DEPOSITORY INSTITUTIONS, Standards, Financial services industry

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Determinants of market reactions to restatement announcements

Article Abstract:

The market reactions to a sample of 403 restatements of annual and quarterly financial statements announced from 1995 to 1999 is analyzed. The study investigates the relation between restatement and company characteristics and the cross-sectional variation in stock market reactions to announcements.

Forecasts, trends, outlooks, Forecasts and trends, Market trend/market analysis, Stock markets, Stock market

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