文章基本信息

标题：Financial Statement Comparability and New Debt Issues
本地全文：下载
作者：Aaron Crabtree ; Bo Ouyang ; Huishan Wan 等
期刊名称：Accounting and Finance Research
印刷版ISSN：1927-5986
电子版ISSN：1927-5994
出版年度：2019
卷号：8
期号：2
页码：143-155
DOI：10.5430/afr.v8n2p143
语种：English
出版社：Sciedu Press
摘要：Using a large sample of firms issuing new debts, this paper investigates how a firm’s financial statements comparability affects its cost of new debt issues. We predict and find that higher comparability is associated with (1) higher bond ratings and (2) lower bond yield spreads when companies issue new debts. Our results are consistent with the view that bond rating analysts and bond investor favor greater comparability when they evaluate new bonds and make investment decisions.
关键词：comparability;new debt issues;bond ratings;bond yield