کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5086656 | 1478185 | 2015 | 56 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Alternative information sources and information asymmetry reduction: Evidence from small business debt
ترجمه فارسی عنوان
منابع اطلاعات جایگزین و کاهش تقارن اطلاعات: شواهد از بدهی های شرکت های کوچک
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
حسابداری
چکیده انگلیسی
We examine whether more sophisticated accounting methods (in the form of accrual accounting) interact with other information sources to reduce information asymmetries between small business borrowers and lenders, thereby lowering borrowers׳ probability of loan denial and cost of debt. We find that higher third party credit scores, but not the use of accrual accounting, decrease the likelihood of loan denial. However, firms using accrual accounting exhibit statistically lower interest rates after controlling for many factors associated with the cost of debt. Further, the interest rate benefits from accrual accounting are greatest when the borrower׳s credit score is low and/or the length of its banking relationship with the lender is short. This evidence indicates that accrual accounting can benefit small business borrowers, but that the information contained in third-party credit scores and obtained through ongoing banking relationships can substitute for the incremental information provided by accrual accounting.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Accounting and Economics - Volume 59, Issues 2â3, AprilâMay 2015, Pages 242-263
Journal: Journal of Accounting and Economics - Volume 59, Issues 2â3, AprilâMay 2015, Pages 242-263
نویسندگان
Gavin Cassar, Christopher D. Ittner, Ken S. Cavalluzzo,