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| Tekijä: | Armstrong, C.S. Guay, W.R. Weber, J.P. |
| Otsikko: | The role of information and financial reporting in corporate governance and debt contracting |
| Lehti: | Journal of Accounting & Economics
2010 : DEC, VOL. 50:2-3, p. 179-234 |
| Asiasana: | financial accounting corporate governance board of directors executive remuneration management pay debt contracts reporting |
| Vapaa asiasana: | transparency |
| Kieli: | eng |
| Tiivistelmä: | This article reviews recent literature role of financial reporting transparency in reducing governance-related agency conflicts among managers, directors and shareholders, as well as in reducing agency conflicts between shareholders and creditors. Key themes include the endogenous nature of debt contracts and governance mechanisms with respect to information asymmetry between contracting parties, the heterogeneous nature of the resulting governance and debt contracts. The writers also emphasize the role of a commitment to financial reporting transparency in facilitating informal multiperiod contracts among managers, directors, shareholders, and creditors. |
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