The economic determinants of conditional conservatism

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dc.contributor.author García Lara, Juan Manuel
dc.contributor.author García Osma, Beatriz
dc.contributor.author Penalva, Fernando
dc.date.accessioned 2011-11-03T16:21:35Z
dc.date.available 2011-11-03T16:21:35Z
dc.date.issued 2009-04
dc.identifier.bibliographicCitation Journal of Business Finance and Accounting, 2009, v. 36, n. 3-4, pp. 336-372
dc.identifier.issn 0306-686X
dc.identifier.uri http://hdl.handle.net/10016/7423
dc.description.abstract We study the economic determinants of conditional conservatism. Consistent with prior literature, we find that contracting induces only conditional conservatism and litigation induces both conditional and unconditional conservatism. We extend prior evidence by Qiang (2007) by showing that taxation and regulation induce not only unconditional conservatism, but conditional conservatism as well. We show that in certain scenarios taxation and regulation create incentives to shift income from periods with high taxation pressure and high public scrutiny to periods with lower taxation pressure and lower public scrutiny. These income shifting strategies are implemented by recognising current economic losses that, given managerial incentives to report aggressively, would not have been recognized otherwise, or by delaying the recognition of current economic gains that would have been recognized had circumstances been different.
dc.description.sponsorship The authors would also like to thank John Graham, who kindly provided estimates for the marginal tax rate. They acknowledge financial assistance from IESE Research Division, the Spanish Ministry of Science and Innovation (ECO2008-06238-C02-01/ECON and SEJ2007-67582-C02-02/ECON), and the European Commission INTACCT Research Training Network (MRTN-CT-2006-035850)
dc.format.mimetype text/plain
dc.format.mimetype application/pdf
dc.language.iso eng
dc.publisher Blackwell Publishing
dc.relation.isversionof http://hdl.handle.net/10016/12447
dc.rights ©Blackwell Publishing
dc.subject.other Conservatism
dc.subject.other Contracting
dc.subject.other Taxation
dc.subject.other Political costs
dc.subject.other Litigation risk
dc.title The economic determinants of conditional conservatism
dc.type article
dc.type.review PeerReviewed
dc.description.status Publicado
dc.relation.publisherversion http://dx.doi.org/10.1111/j.1468-5957.2008.02122.x
dc.subject.eciencia Empresa
dc.identifier.doi 10.1111/j.1468-5957.2008.02122.x
dc.rights.accessRights openAccess
dc.identifier.publicationfirstpage 336
dc.identifier.publicationissue 3-4
dc.identifier.publicationlastpage 372
dc.identifier.publicationtitle Journal of Business Finance and Accounting
dc.identifier.publicationvolume 36
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