Do financial market developments influence accounting practices? Credit default swaps and borrowers׳ reporting conservatism

This paper investigates whether the initiation of trading in credit default swaps (CDSs) on a borrowing firm׳s outstanding debt is associated with a decline in that firm׳s reporting conservatism. CDS investments can modify lenders׳ payoffs on their loan portfolios by providing insurance on negative...

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Veröffentlicht in:Journal of accounting & economics 2015-02, Vol.59 (1), p.80-104
Hauptverfasser: Martin, Xiumin, Roychowdhury, Sugata
Format: Artikel
Sprache:eng
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