| Project/Area Number |
24730384
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Accounting
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| Research Institution | Niigata University |
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Principal Investigator |
YUMI Inamura 新潟大学, 人文社会・教育科学系, 講師 (80583757)
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| Project Period (FY) |
2012-04-01 – 2014-03-31
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| Project Status |
Completed (Fiscal Year 2013)
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| Budget Amount *help |
¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2013: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2012: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
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| Keywords | 財務会計 / 実証会計学 / 負債契約 / 実証会計 / 利益調整 / 利害調整 / 会計情報 |
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| Research Abstract |
This study examines debt contracts between firms and debt holders to find the extent that accounting information was used in debt contracts, the process of setting debt contracts, and the relationship between debt contracts and earnings management.
The sample consisted of debt contracts data from public firms' financial statements between 2004 and 2008. The findings indicate that debt holders often used accounting information in their debt contracts, such as restricted-earnings covenants; with the extent of accounting information used increasing remarkably after 2007. An empirical analysis of the determinants setting the rigidity of restricted-earnings covenants showed that debt holders use accounting information to analyze firms' past performance and forecasts of firms' future performance to set debt contracts. This result shows the importance of the relationship between debt contracts and earnings management.
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