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Article: Accounting quality and firm-level capital investment

TitleAccounting quality and firm-level capital investment
Authors
KeywordsAccounting quality
Capital investment
Corporate governance
Issue Date2006
PublisherAmerican Accounting Association. The Journal's web site is located at http://aaapubs.aip.org/accr/
Citation
Accounting Review, 2006, v. 81 n. 5, p. 963-982 How to Cite?
AbstractThis study examines how accounting quality relates to firm-level capital investment efficiency. Our first hypothesis is that higher quality accounting enhances investment efficiency by reducing information asymmetry between managers and outside suppliers of capital. Our second hypothesis is that this effect should be stronger in economies where financing is largely provided through arm's-length transactions compared with countries where creditors supply more capital. Our results are consistent with these hypotheses both across and within countries. They are robust to alternative econometric specifications, different measures of accounting quality and investment-cash flow sensitivity, and numerous control variables.
Persistent Identifierhttp://hdl.handle.net/10722/129001
ISSN
2015 Impact Factor: 1.953
2015 SCImago Journal Rankings: 4.478
SSRN
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorBiddle, GCen_HK
dc.contributor.authorHilary, Gen_HK
dc.date.accessioned2010-12-09T03:05:31Z-
dc.date.available2010-12-09T03:05:31Z-
dc.date.issued2006en_HK
dc.identifier.citationAccounting Review, 2006, v. 81 n. 5, p. 963-982en_HK
dc.identifier.issn0001-4826en_HK
dc.identifier.urihttp://hdl.handle.net/10722/129001-
dc.description.abstractThis study examines how accounting quality relates to firm-level capital investment efficiency. Our first hypothesis is that higher quality accounting enhances investment efficiency by reducing information asymmetry between managers and outside suppliers of capital. Our second hypothesis is that this effect should be stronger in economies where financing is largely provided through arm's-length transactions compared with countries where creditors supply more capital. Our results are consistent with these hypotheses both across and within countries. They are robust to alternative econometric specifications, different measures of accounting quality and investment-cash flow sensitivity, and numerous control variables.en_HK
dc.languageengen_US
dc.publisherAmerican Accounting Association. The Journal's web site is located at http://aaapubs.aip.org/accr/en_HK
dc.relation.ispartofAccounting Reviewen_HK
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectAccounting qualityen_HK
dc.subjectCapital investmenten_HK
dc.subjectCorporate governanceen_HK
dc.titleAccounting quality and firm-level capital investmenten_HK
dc.typeArticleen_HK
dc.identifier.emailBiddle, GC: biddle@hku.hken_HK
dc.identifier.authorityBiddle, GC=rp00230en_HK
dc.description.naturepostprinten_US
dc.identifier.doi10.2308/accr.2006.81.5.963en_HK
dc.identifier.scopuseid_2-s2.0-37049011584en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-37049011584&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume81en_HK
dc.identifier.issue5en_HK
dc.identifier.spage963en_HK
dc.identifier.epage982en_HK
dc.identifier.eissn1558-7967-
dc.identifier.isiWOS:000241981000001en_US
dc.publisher.placeUnited Statesen_HK
dc.identifier.ssrn910806-
dc.identifier.scopusauthoridBiddle, GC=6701761934en_HK
dc.identifier.scopusauthoridHilary, G=6505892271en_HK

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