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政大機構典藏 > 商學院 > 會計學系 > 期刊論文 > Item 140.119/70599

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/70599

Title:	Re-examining the relationship between PIN and timely loss recognition
Authors:	詹凌菁 Chan, L.-C.;Lee, E.;J. Petaibanlue;Zeng, C.
Contributors:	會計系
Keywords:	timely loss recognition;information asymmetry;lender–shareholder conflict;M41
Date:	2014.06
Issue Date:	2014-10-15 14:43:49 (UTC+8)
Abstract:	We re-examine the positive relationship between the probability of information-based trading (PIN) measure and timely loss recognition, documented by LaFond and Watts (2008). This relationship has been interpreted as evidence that timely loss recognition plays an information role for equity investors in addition to the debt-contracting role widely suggested by the accounting literature. However, we show that this relationship diminishes after we control for lender–shareholder conflict, for which we use as a proxy the price-change asymmetry (PCA) measure suggested by Easton et al. (2011). This finding implies that timely loss recognition still caters mainly to the demands of lenders rather than equity investors. Our study contributes new evidence to the ongoing debate on the underlying cause of timely loss recognition, which is a fundamental issue in accounting literature.
Relation:	Applied Financial Economics, 24(3), 1479-1489
Data Type:	article
DOI 連結:	http://dx.doi.org/10.1080/09603107.2014.925072
DOI:	10.1080/09603107.2014.925072
Appears in Collections:	[會計學系] 期刊論文

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