Debt covenant disclosures and the impact of SEC Rule 144A
Article Abstract:
The effects of SEC Rule 144A that lifts Rule 144 restrictions on the resale of privately owned securities on disclosure of restrictive covenants in private and public debt instruments is studied. Results show that under the old Rule 144, availability of information decreased. Rule 144A is unlikely to negatively affect disclosure of accounting constraint data to stock market participants. The costs of getting information will increase, however, if brokers choose not to obtain data contained in private debt agreements. An increase in information expenditures is predicted.
Publication Name: Journal of Accounting and Public Policy
Subject: Business
ISSN: 0278-4254
Year: 1992
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The impact of SEC scrutiny on financial statement of reporting of in - process research and development expense
Article Abstract:
The impact of United States Securities and Exchange Commission (SEC) guidance on Intellectual Property Research & Development (IPRD) write-offs is analyzed. The findings show that companies re-stated their IPRD expenses, with the average initial IPRD declining from 66% to 25%, pushing up median percentage increase in pre-tax income of 32%, and an average change of 142%. The average portion of purchase price expensed to IPRD declined from 63% to 18%. The impact of SEC guidance is more marked by income growth, higher earnings and lower expenses for the companies.
Publication Name: Journal of Accounting and Public Policy
Subject: Business
ISSN: 0278-4254
Year: 2004
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Dutch accounting legislation and changes of organizational form: an efficient contracting perspective
Article Abstract:
Accounting laws in the Netherlands are examined to determined their role in changing the organization of stock companies in said country. Data on the number of companies in various types of organizational forms and the number of firms that transfer from one organizational form to another are used for the study. Statistical analysis reveal that the 1970 accounting law had a stronger impact compared to the 1983 law due to switching cost differences.
Publication Name: Journal of Accounting and Public Policy
Subject: Business
ISSN: 0278-4254
Year: 1996
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