Investor Protection Under Unregulated Financial Reporting

Barton, Jan; Waymire, Gregory B.

doi:10.2139/ssrn.386140

Cited by 57 publications

(58 citation statements)

References 115 publications

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“…Firms that are more leveraged (LEVERAGE) are significantly more likely to provide high-quality financial information. This is consistent with debt contracting and monitoring influencing the quality of financial information (Watts [1977]) and the empirical evidence in Barton and Waymire [2004]. The significant results for OWNER and LEVERAGE appear not to depend on a particular quality measure.…”

Section: Multivariate Analysis -Determinants Of Financial Reporting Qsupporting

confidence: 83%

“…In addition to these specific factors affecting firms' financial reporting quality decisions, I rely on cross-sectional determinants of firms' disclosure policies used by prior literature (e.g., Lundholm [1993, 1996], Bushee et al [2003], Butler et al [2003], and Barton and Waymire [2004]). The above studies, among others, have provided evidence that disclosure decisions are associated with financing needs, the firm's information environment, incentive costs, firm performance, litigation costs, and ownership dispersion.…”

Section: Determinants Of Financial Reporting Qualitymentioning

confidence: 99%

“…15 Therefore, I predict reporting quality to vary with a firm's capital structure (Watts [1977], Smith and Warner [1979], Leftwich et al [1981], Butler et al [2003], and Barton and Waymire [2004]). In a recent study, Barton and Waymire [2004] provide evidence that managers' incentives to supply high quality financial statements increase with the level of shareholder-debtholder agency conflicts as proxied by the amount of leverage in the firm's capital structure.…”

mentioning

confidence: 99%

“…In a recent study, Barton and Waymire [2004] provide evidence that managers' incentives to supply high quality financial statements increase with the level of shareholder-debtholder agency conflicts as proxied by the amount of leverage in the firm's capital structure. They show a significant positive association between firms' leverage and the quality of public accounting information and interpret this finding as consistent with debt contracting influencing financial reporting.…”

mentioning

confidence: 99%

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Does Information Risk Really Matter? An Analysis of the Determinants and Economic Consequences of Financial Reporting Quality

Cohen

2006

SSRN Journal

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I investigate the determinants and economic consequences associated with financial reporting quality. I find evidence of a positive association between investors' demands for firm-specific information and financial reporting quality. In addition, the evidence suggests that higher proprietary costs (proxied by capital intensity, product market competition, and growth opportunities) are associated with a lower quality of financial information. Controlling for the firm-specific characteristics determining financial reporting quality, I find evidence of a negative association between firms' total risk and financial reporting quality. Decomposing total risk into a systematic component and an idiosyncratic one, the results imply that firms providing financial information of higher quality do not necessarily enjoy a lower cost of equity capital. However, a significant negative relation is documented between reporting quality and idiosyncratic risk. This suggests that the quality of accounting information cannot be characterized as an additional systematic priced risk factor, but rather as an idiosyncratic one, once the firmspecific characteristics determining information quality are controlled for. These results demonstrate the importance of explicitly controlling for the determinants of financial reporting quality when investigating the associated economic consequences and question recent empirical evidence on the association between reporting quality and the cost of equity capital.

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Section: Multivariate Analysis -Determinants Of Financial Reporting Qsupporting

confidence: 83%

Section: Determinants Of Financial Reporting Qualitymentioning

confidence: 99%

mentioning

confidence: 99%

mentioning

confidence: 99%

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Does Information Risk Really Matter? An Analysis of the Determinants and Economic Consequences of Financial Reporting Quality

Cohen

2006

SSRN Journal

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“…ME Barth et al (2001) and PM Dechow and ID Dichev (2002) to measure the degree of accuracy by predicting future cash flows, the quality of accounting information [5]. Barton and Waymire (2004) consider the trustworthiness and transparency of financial reporting is evaluation criteria, through the profit and loss account and balance sheet transparency to evaluate the financial statements, and presented the quantitative evaluation ideas [6].…”

Section: Literature Reviewmentioning

confidence: 99%

A Fuzzy Approach for the Evaluation of Accounting Information Quality under Big Data Environmental——Case Study from China

Wang¹,

Yinghong²,

Dong³

et al. 2014

Advances in Economics, Business and Management Research

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Abstract. The evaluation of accounting information quality is very important to the development of enterprise, especially, under the large data environmental. This paper based on the previous studies, combination the characteristics of big data to build an accounting information quality evaluation index system under big data environment. The evaluation system of accounting information quality includes fourteen indicators of four aspects that are reliability, correlation, timeliness and integrity. Then, we constructed five examples come from China to test and verify the accounting information quality evaluation index system by fuzzy approach, and the examples demonstrates the rationality and feasibility of the evaluation index system. Research findings have a certain theoretical and practical significance to the evaluation of accounting information quality under big data environment.

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Bibliography

2012

More Than a Numbers Game

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Investor Protection Under Unregulated Financial Reporting

Cited by 57 publications

References 115 publications

Does Information Risk Really Matter? An Analysis of the Determinants and Economic Consequences of Financial Reporting Quality

Does Information Risk Really Matter? An Analysis of the Determinants and Economic Consequences of Financial Reporting Quality

A Fuzzy Approach for the Evaluation of Accounting Information Quality under Big Data Environmental——Case Study from China

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