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Croatian Operational Research Review, Vol. 3 No. 1, 2012.

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CONDITIONAL CONSERVATISM AND THE COST OF DEBT: EVIDENCE FROM CENTRAL AND EASTERN EUROPE

Slavko Šodan   ORCID icon orcid.org/0000-0002-5043-6801 ; Faculty of Economics, University of Split, Split, Croatia

Puni tekst: engleski, pdf (132 KB) str. 245-255 preuzimanja: 909* citiraj
APA 6th Edition
Šodan, S. (2012). CONDITIONAL CONSERVATISM AND THE COST OF DEBT: EVIDENCE FROM CENTRAL AND EASTERN EUROPE. Croatian Operational Research Review, 3 (1), 245-255. Preuzeto s https://hrcak.srce.hr/96825
MLA 8th Edition
Šodan, Slavko. "CONDITIONAL CONSERVATISM AND THE COST OF DEBT: EVIDENCE FROM CENTRAL AND EASTERN EUROPE." Croatian Operational Research Review, vol. 3, br. 1, 2012, str. 245-255. https://hrcak.srce.hr/96825. Citirano 19.05.2019.
Chicago 17th Edition
Šodan, Slavko. "CONDITIONAL CONSERVATISM AND THE COST OF DEBT: EVIDENCE FROM CENTRAL AND EASTERN EUROPE." Croatian Operational Research Review 3, br. 1 (2012): 245-255. https://hrcak.srce.hr/96825
Harvard
Šodan, S. (2012). 'CONDITIONAL CONSERVATISM AND THE COST OF DEBT: EVIDENCE FROM CENTRAL AND EASTERN EUROPE', Croatian Operational Research Review, 3(1), str. 245-255. Preuzeto s: https://hrcak.srce.hr/96825 (Datum pristupa: 19.05.2019.)
Vancouver
Šodan S. CONDITIONAL CONSERVATISM AND THE COST OF DEBT: EVIDENCE FROM CENTRAL AND EASTERN EUROPE. Croatian Operational Research Review [Internet]. 2012 [pristupljeno 19.05.2019.];3(1):245-255. Dostupno na: https://hrcak.srce.hr/96825
IEEE
S. Šodan, "CONDITIONAL CONSERVATISM AND THE COST OF DEBT: EVIDENCE FROM CENTRAL AND EASTERN EUROPE", Croatian Operational Research Review, vol.3, br. 1, str. 245-255, 2012. [Online]. Dostupno na: https://hrcak.srce.hr/96825. [Citirano: 19.05.2019.]

Sažetak
This study attempts to link the cost of debt to observed levels of accounting conservatism. Namely, conservative earnings reflect bad news more quickly than good news. Therefore, conservatism causes
more timely recognition of losses than gains and improves quality of accounting information in context of corporate governance and loan agreements. Timely loss recognition increases efficiency of debt contracting and provides useful information to creditors. Further, conservative accounting limits the likelihood of inappropriate dividend payments and enables debt holders to use their control rights more quickly. Accordingly, lenders should reward companies that choose more conservative accounting with lower cost of debt. Level of conservatism is measured by asymmetric persistence of
positive and negative earnings changes. Empirical evidence of the relation between conditional conservatism and debt cost is provided through the sample of listed companies from 17 Central and Eastern European countries in succession from 2003 to 2010, using panel data analysis.

Ključne riječi
conditional conservatism; earnings quality; cost of debt; financial reporting

Hrčak ID: 96825

URI
https://hrcak.srce.hr/96825

Posjeta: 1.099 *