haku: @indexterm accounting principles / yhteensä: 291
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Tekijä: | Khan, M. Watts, R.L. |
Otsikko: | Estimation and empirical properties of a firm-year measure of accounting conservatism |
Lehti: | Journal of Accounting & Economics
2009 : DEC, VOL. 48:2-3, p. 132-150 |
Asiasana: | asymmetric information litigation accounting principles earnings uncertainty investments |
Kieli: | eng |
Tiivistelmä: | This study estimates a firm-year measure of accounting conservatism, investigates its empirical properties as a metric, and illustrates applications by testing new hypotheses shedding further light on the nature and effects of conservatism. The results are consistent with the measure, C_Score, and they capture variation in conservatism, predicting asymmetric earnings timeliness at horizons of up to 3 years ahead. Firms with longer investment cycles, higher idiosyncratic uncertainty and higher information asymmetry are suggested to have higher accounting conservatism by cross-sectional hypotheses. Furthermore, increased conservatism is supposed to be a response to increases in information asymmetry and idiosyncratic uncertainty by event studies. |
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