Abstract

Timeliness and conservatism are central to financial reporting, yet what are the economic factors that determine them? In the international arena, are financial reporting properties associated with debt markets more than equity markets? The authors provide a simple test of "costly contracting" and "value relevance" theories of accounting, using data on the importance of debt and equity markets in 22 countries.

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Citation

Sadka, Gil. "Are Timeliness and Conservatism Due to Debt or Equity Markets? An International Test of 'Contracting' and 'Value Relevance' Theories of Accounting." Chazen Web Journal of International Business (2005). www.gsb.columbia.edu/chazen/journal.

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