haku: @author Cheung, J. K. / yhteensä: 5
viite: 2 / 5
| Tekijä: | Cheung, J. K. |
| Otsikko: | The PIP grant accounting controversy in Canada: A study of the economic consequences of accounting standards |
| Lehti: | Journal of Business Finance and Accounting
1988 : SPRING, VOL. 15:1, p.47-66 |
| Asiasana: | INCENTIVES ACCOUNTING STANDARDS SECURITY MARKETS |
| Kieli: | eng |
| Tiivistelmä: | The Petroleum Incentive Program (PIP) grant accounting rule has created a tremendous controversy between the accounting profession and the federal government. It is attempted to access the economic consequences of the accounting rule. A modified market model is used to estimate abnormal security returns during event weeks surrounding the controversy. These abnormal returns are then regressed on financial variables proxying for economic consequences. The results indicate significant associations between abnormal returns and proxies for contracting and monitoring costs and for political visibility, thus lending support to the claim that rule had an adverse impact on financial flexibility. |
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