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德勤－复旦会计论坛系列讲座之八十

时间：2015年4月21日（周二）下午13：30

地点：史带楼302室

主持人：陈超 教授

演讲嘉宾：Gerald J. Lobo  (University of Houston)

Title：Does Accounting Conservatism Vary Over the Credit Cycle?

Abstract：We examine the effect of credit booms on lenders’ demand for accounting conservatism. Using data from 1999 – 2009, we document a significant reduction in firms’ reporting conservatism as well as a reduction in the use of debt covenants during the 2004 – 2007 credit boom, and this reduction is mainly concentrated in bank-dependent firms. We also find that for bank-dependent firms, the reduction in accounting conservatism is more pronounced for firms with higher default risk, whereas for non-bank-dependent firms, the reduction is concentrated in firms with a B rating. Our results are robust to using alternative measures of credit cycles and accounting conservatism. We conclude that credit booms have a significant impact on lenders’ demand for conservative reporting by borrowers.

会计学系

20105-4-9