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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
Vapaa asiasana:transparency
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.
SCIMA tietueen numero: 272647
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