Dynamic internal control performance over financial reporting and external financing
نویسندگان
چکیده
منابع مشابه
Financial Reporting Regulation and Financing Decisions
We study the influence of a major reform in financial reporting regulation on financing decisions. Across a battery of tests, we document an increase in the issuance of external financing around the new regime. Further, firms make different financing decisions around the new regulation depending on their ex-ante debt capacity, allowing them to adjust their capital structure. Our results are acc...
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High-quality internal audit is expected to lead to high-quality financial reporting. High-quality financial reporting expresses itself in earning quality. Earning quality has been playing a key role in capital market for a long time. Finance users pay special attention to earning quality because they make their decision based on it. On the other hand, the market economy will experience awful, i...
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We investigate whether ineffective internal control over financial reporting has implications for firm operations by examining the association between inventoryrelated material weaknesses in internal control over financial reporting and firms’ inventory management. We find that firms with inventory-related material weaknesses have systematically lower inventory turnover ratios and are more like...
متن کاملFinancial Development , Endogenous Dependence on External Financing , and Trade ∗
The influential papers on the effect of credit constraints on growth and international trade (Rajan and Zingales, 1998; Manova, 2013) tend to assume that asset tangibility and the share of external borrowing are exogenous industry characteristics, which are timeand country-invariant. In the finance literature, however, the share of external borrowing is viewed as endogenous and dependent on the...
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We propose a dynamic structural corporate model in which firms face imperfect capital markets and frictional product markets. We highlight the importance of the endogeneity of firms’ short-term cash flows and the endogeneity of the marginal value of liquidity in determining the interactions between investment, financing and product price setting decisions. Our primary goal is to develop a finan...
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ژورنال
عنوان ژورنال: Journal of Contemporary Accounting & Economics
سال: 2012
ISSN: 1815-5669
DOI: 10.1016/j.jcae.2012.05.001