search query: @indexterm LEASING / total: 316
reference: 74 / 316
| Author: | El-Gazzar, S. |
| Title: | Stock market effects of the closeness to debt covenant restrictions resulting from capitalization of leases |
| Journal: | Accounting Review
1993 : APR, VOL. 68:2, p. 258-272 |
| Index terms: | LEASING ACCOUNTING DEBT |
| Language: | eng |
| Abstract: | This article examines the association between lessees' market returns and their changes in the tightness of the debt covenant constraints resulting from compliance with SFAS No. 13 (1976). This paper differs from previous research in that it uses covenant-based measures. Similar to Hughes and Ricks (1984) and Schipper and Tompson (1983), it examines cross-sectional stick return dependencies that exist when industry effects cannot be randomized over time. Actual debt contracts of sample firms are analyzed in the paper to identify accounting-based restrictions, the default value of each restriction, and the definition of the accounting variables used in the covenant. |
SCIMA