Publication:
Debt pressure and interactive use of control systems: effects on cost of debt

Simple item page
dc.affiliation.dptoUC3M. Departamento de EconomĂ­a de la Empresaes
dc.contributor.authorGarcĂ­a Osma, Beatriz
dc.contributor.authorGomez Conde, Jacobo
dc.contributor.authorHeras Cristobal, Elena de las
dc.contributor.funderMinisterio de Economía y Competitividad (España)es
dc.date.accessioned2022-06-30T15:57:06Z
dc.date.available2022-06-30T15:57:06Z
dc.date.issued2018-09-01
dc.description.abstractWe study if debt pressure drives the use of interactive management accounting and control systems (MACS) and its consequences. We build on Simons (1990) and argue that financing pressures can threaten strategic investment. To alleviate debt pressures and reduce information asymmetries with lenders, managers are predicted to increase the interactive use of MACS. However, because individual MACS have different features, not all interactive use of individual MACS equally serves to assuage debt pressures. We predict that firms facing high debt pressure interactively use traditional MACS and that when individual MACS use befits the level of debt pressure, firms benefit by experiencing future decreases in their cost of debt. Our findings confirm these predictions. We contribute to the literature by showing that pressures from external stakeholders influence interactive use. We also suggest a new relevant firm outcome affected by MACS use: the future cost of debt. Finally, in additional analyses, we show that concerns over innovation may lead managers to choose apparently non-optimal MACS for interactive use, consistent with managers often juggling conflicting pressures.en
dc.description.sponsorshipWe acknowledge financial assistance from the Spanish Ministry of Education and Science (ECO2013-48328, ECO2016-77579), CAM (H2015/HUM-3353), FEDER (UNC315-EE-3636), the Catedra UAM- Auditores Madrid and 6th ed. AECA Research Grants (2015-2016).en
dc.identifier.bibliographicCitationGarcia Osma, B., Gomez-Conde, J., & de las Heras, E. (2018). Debt pressure and interactive use of control systems: effects on cost of debt. Management Accounting Research, 40, pp. 27-46.es
dc.identifier.doihttps://doi.org/10.1016/j.mar.2017.10.001
dc.identifier.issn1044-5005
dc.identifier.publicationfirstpage3544es
dc.identifier.publicationlastpage3558es
dc.identifier.publicationtitleManagement Accounting Researches
dc.identifier.publicationvolume42es
dc.identifier.urihttps://hdl.handle.net/10016/35365
dc.identifier.uxxiAR/0000022147
dc.language.isoenges
dc.publisherElsevieres
dc.relation.projectIDGobierno de España. ECO2013-48328-C3-2-Pes
dc.relation.projectIDGobierno de España. UNC315-EE-3636es
dc.relation.projectIDGobierno de España. ECO2016-77579-C3-3-Pes
dc.rights© Elsevieres
dc.rightsAtribución-NoComercial-SinDerivadas 3.0 España*
dc.rights.accessRightsopen accessen
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/es/*
dc.subject.ecienciaEconomĂ­aes
dc.subject.ecienciaEmpresaes
dc.subject.otherDebt pressureen
dc.subject.otherInteractive useen
dc.subject.otherManagement accounting and control systemsen
dc.subject.otherCost of debten
dc.subject.otherInnovationen
dc.subject.otherLevers of controlen
dc.titleDebt pressure and interactive use of control systems: effects on cost of debten
dc.typeresearch article*
dc.type.hasVersionAM*
dspace.entity.typePublication
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
debt_MAR_2018_ps.pdf
Size:
1 MB
Format:
Adobe Portable Document Format
Download
Collections
DEE - ArtĂ­culos de Revistas