德勤－复旦会计论坛系列讲座之一百七十二
时 间：2019年11月19日（周二）下午14：00
地 点：史带楼603室
主持人：周易 博士
主讲人：Joshua Ronen (New York University)
主 题：Anticipatory Effects of Accounting Standards: The Case of Lease Standard
摘 要：We examine whether market perception of firms’ future default risk increases, as manifested in market measures of risk, upon issuance of the 2010 exposure draft (ED) proposing capitalization of most operating leases. Employing a difference-in-differences design, we find a significant increase in loan spread and credit default swap (CDS) premia for firms with high operating leases. Cross-sectional tests show the effect to be more pronounced in firms with lower disclosure reliability and longer lease maturity. This study innovates by considering anticipatory effects of exposure drafts.
会计学系
2019-11-18
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