政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/64034
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  全文笔数/总笔数 : 110198/141124 (78%)
造访人次 : 46826820      在线人数 : 1103
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
搜寻范围 查询小技巧:
  • 您可在西文检索词汇前后加上"双引号",以获取较精准的检索结果
  • 若欲以作者姓名搜寻,建议至进阶搜寻限定作者字段,可获得较完整数据
  • 进阶搜寻
    政大機構典藏 > 商學院 > 會計學系 > 期刊論文 >  Item 140.119/64034


    请使用永久网址来引用或连结此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/64034


    题名: Accounting conservatism and the cost of equity capital: UK evidence
    作者: Chan, Ann L.-C.;Lin, Stephen W.J.;Strong, Norman
    詹凌菁;Stephen W.J. Lin;Norman Strong
    贡献者: 會計系
    关键词: Equity capital;Accounting;Accounting information;United Kingdom
    日期: 2009
    上传时间: 2014-02-19 17:08:53 (UTC+8)
    摘要: The purpose of this paper is to investigate the economic consequences of different dimensions of accounting conservatism: ex ante (balance sheet or unconditional) conservatism and ex post (earnings or conditional) conservatism. It is argued that the two dimensions of conservatism convey different information to the market about the quality of accounting numbers and have different associations with equity investors` required rates of return. The cost of equity capital estimates are based on the Ohlson and Juettner-Nauroth model. The paper applies a regression model to examine the relationship between the cost of equity capital and accounting conservatism controlling for other risk factors. The findings indicate that ex ante conservatism is associated with higher quality of accounting information and lower costs of equity capital and that ex post conservatism is associated with lower quality of accounting information and higher costs of equity capital. The firm-level conservatism measures may suffer from measurement error. Future studies can be more specific in determining proxies for ex ante and ex post conservatism. The results imply that conservative accounting signals information to investors about the quality of a firm`s current and future earnings. Investors` required rates of returns may be higher for conservative reporting firms that are more susceptible to opportunistic management discretion. The paper provides the first UK evidence on the effect of different dimensions of conservatism on equity investors` required rates of return.
    關聯: Managerial Finance, 35(4), 325-345
    数据类型: article
    显示于类别:[會計學系] 期刊論文

    文件中的档案:

    档案 描述 大小格式浏览次数
    325345.pdf176KbAdobe PDF21578检视/开启


    在政大典藏中所有的数据项都受到原著作权保护.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏,無償提供學術研究與公眾教育等公益性使用,惟仍請適度,合理使用本網站之內容,以尊重著作權人之權益。商業上之利用,則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作,已盡力防止侵害著作權人之權益,如仍發現本網站之數位內容有侵害著作權人權益情事者,請權利人通知本網站維護人員(nccur@nccu.edu.tw),維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - 回馈