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Titolo:
ACCOUNTING CHOICE IN TROUBLED COMPANIES
Autore:
DEANGELO H; DEANGELO L; SKINNER DJ;
Indirizzi:
UNIV SO CALIF,SCH BUSINESS LOS ANGELES CA 90089 UNIV MICHIGAN ANN ARBOR MI 48109
Titolo Testata:
Journal of accounting & economics
fascicolo: 1-2, volume: 17, anno: 1994,
pagine: 113 - 143
SICI:
0165-4101(1994)17:1-2<113:ACITC>2.0.ZU;2-2
Fonte:
ISI
Lingua:
ENG
Soggetto:
INDUSTRY;
Keywords:
FINANCIAL DISTRESS; TROUBLED FIRMS; WRITEOFFS; LOSSES; ACCOUNTING CHOICE;
Tipo documento:
Article
Natura:
Periodico
Settore Disciplinare:
Social Sciences Citation Index
Social Sciences Citation Index
Citazioni:
33
Recensione:
Indirizzi per estratti:
Citazione:
H. Deangelo et al., "ACCOUNTING CHOICE IN TROUBLED COMPANIES", Journal of accounting & economics, 17(1-2), 1994, pp. 113-143

Abstract

This paper studies accounting choice in 76 NYSE firms with persistentlosses and dividend reductions (40% forced by binding covenants). We find that managers' accounting choices primarily reflect their firms' financial difficulties, rather than attempts to inflate income. Firms with and without binding covenants exhibit minor accrual differences in the ten years before the dividend reduction. In the dividend reduction and following three years, the full sample exhibits large negative accruals that likely reflect the fact that 87% of sample firms engage in contractual renegotiations - with lenders, unions, government, and/or management - that provide incentives to reduce earnings.

ASDD Area Sistemi Dipartimentali e Documentali, Università di Bologna, Catalogo delle riviste ed altri periodici
Documento generato il 01/04/20 alle ore 23:56:12