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The role of financial reporting in debt contracting and in stewardship created by Lakshmanan Shivakumar

By: Material type: TextTextSeries: Accounting and Business Research ; Volume 43, number 4Abingdon: Routledge, 2013Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 00014788
Subject(s): LOC classification:
  • HD30.4 ACC
Online resources: Abstract: In this paper, I review the role that financial accounting plays in contracts aimed at mitigating agency problems between shareholders and managers and between shareholders and debtholders. The paper discusses the reasons why and how financial accounting numbers are used in debt and stewardship contracting. It further considers the effects of conservatism and fair-value accounting on the relevance of financial reports for contracting. The paper provides some key takeaways from academic literature for accounting practice and regulation.
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Holdings
Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HD30.4 ACC (Browse shelf(Opens below)) Vol. 43, no. 4 (pages 362-383) SP17769 Not for loan For in house use

In this paper, I review the role that financial accounting plays in contracts aimed at mitigating agency problems between shareholders and managers and between shareholders and debtholders. The paper discusses the reasons why and how financial accounting numbers are used in debt and stewardship contracting. It further considers the effects of conservatism and fair-value accounting on the relevance of financial reports for contracting. The paper provides some key takeaways from academic literature for accounting practice and regulation.

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