不利结果在市政债务成本中的作用

IF 1.2 Q3 BUSINESS, FINANCE Advances in Accounting Pub Date : 2023-01-01 DOI:10.1016/j.adiac.2023.100671
Christopher T. Edmonds , Ryan D. Leece , Beth Y. Vermeer , Thomas E. Vermeer
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引用次数: 0

摘要

本研究调查了市政债券价格是否反映了不利结果(即严重不遵守法律法规和质疑成本),以及不利结果和内部控制弱点的互动影响。使用从866份官方注册声明中手工收集的数据,我们的结果表明,不利结果是初始债券收益率的重要决定因素,并有助于解释内部控制薄弱环节与初始债券收益之间的潜在关系。具体而言,市政债券市场会惩罚有不利结果的政府,如果不利结果伴随着内部控制的实质性弱点,则会受到更大的惩罚。
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来源期刊
Advances in Accounting
Advances in Accounting BUSINESS, FINANCE-
CiteScore
2.50
自引率
6.20%
发文量
29
期刊介绍: Advances in Accounting, incorporating Advances in International Accounting continues to provide an important international forum for discourse among and between academic and practicing accountants on the issues of significance. Emphasis continues to be placed on original commentary, critical analysis and creative research.
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