메뉴 건너뛰기




Volumn 27, Issue 9-10, 2000, Pages 1185-1224

Recognition versus disclosure: An investigation of the impact on equity risk using UK operating lease disclosures

Author keywords

[No Author keywords available]

Indexed keywords


EID: 0038201382     PISSN: 0306686X     EISSN: 14685957     Source Type: Journal    
DOI: 10.1111/1468-5957.00352     Document Type: Conference Paper
Times cited : (34)

References (49)
  • 1
    • 0031094165 scopus 로고    scopus 로고
    • Recognition, disclosure or delay: Timing the adoption of SFAS no. 106
    • Amir, E. and A. Ziv (1997), 'Recognition, Disclosure or Delay: Timing the Adoption of SFAS No. 106', Journal of Accounting Research, Vol. 35, No. 1 (Spring), pp. 61-81.
    • (1997) Journal of Accounting Research , vol.35 , Issue.1 SPRING , pp. 61-81
    • Amir, E.1    Ziv, A.2
  • 3
    • 0010952275 scopus 로고
    • Investment appraisal methods of financial analysts: A comparative study of U.S. and U.K. practices
    • Arnold, J., P. Moizer and E. Noreen (1984), 'Investment Appraisal Methods of Financial Analysts: A Comparative Study of U.S. and U.K. Practices', International Journal of Accounting, Vol. 19, No. 2, pp. 1-18.
    • (1984) International Journal of Accounting , vol.19 , Issue.2 , pp. 1-18
    • Arnold, J.1    Moizer, P.2    Noreen, E.3
  • 4
    • 0037940316 scopus 로고    scopus 로고
    • ASB, Discussion Paper (Accounting Standards Board, London)
    • ASB (1999), Leases: Implementation of a New Approach, Discussion Paper (Accounting Standards Board, London).
    • (1999) Leases: Implementation of A New Approach
  • 5
    • 0347004444 scopus 로고
    • ASC, Statement of Standard Accounting Practice No. 21 (Accounting Standards Committee, London)
    • ASC (1984), Accounting for Leases and Hire Purchase Contracts, Statement of Standard Accounting Practice No. 21 (Accounting Standards Committee, London).
    • (1984) Accounting for Leases and Hire Purchase Contracts
  • 6
    • 77951604725 scopus 로고
    • Needed: A generally accepted method for measuring lease commitments
    • July
    • Axelson, K.S. (1971), 'Needed: A Generally Accepted Method for Measuring Lease Commitments', Financial Executive (July), pp. 40-52.
    • (1971) Financial Executive , pp. 40-52
    • Axelson, K.S.1
  • 7
    • 0038201376 scopus 로고    scopus 로고
    • The impact of constructive operating lease capitalisation on key accounting ratios
    • Beattie, V.A., K. Edwards and A. Goodacre (1998), 'The Impact of Constructive Operating Lease Capitalisation on Key Accounting Ratios', Accounting and Business Research, Vol. 28, No. 4, pp. 233-54.
    • (1998) Accounting and Business Research , vol.28 , Issue.4 , pp. 233-254
    • Beattie, V.A.1    Edwards, K.2    Goodacre, A.3
  • 8
    • 0038540031 scopus 로고    scopus 로고
    • Operating leases and the assessment of lease-debt substitutability
    • Beattie, V.A., A. Goodacre and S. Thomson (2000), 'Operating Leases and the Assessment of Lease-debt Substitutability', Journal of Banking and Finance, Vol. 24, No. 3, pp. 427-70.
    • (2000) Journal of Banking and Finance , vol.24 , Issue.3 , pp. 427-470
    • Beattie, V.A.1    Goodacre, A.2    Thomson, S.3
  • 9
    • 0001632191 scopus 로고
    • The association between market determined and accounting determined risk measures
    • Beaver, W., P. Kettler and M. Scholes (1970), 'The Association Between Market Determined and Accounting Determined Risk Measures', The Accounting Review, Vol. 45, No. 4 (October), pp. 654-82.
    • (1970) The Accounting Review , vol.45 , Issue.4 OCTOBER , pp. 654-682
    • Beaver, W.1    Kettler, P.2    Scholes, M.3
  • 11
    • 84977423732 scopus 로고
    • The theoretical relationship between systematic risk and financial accounting variables
    • Bowman, R.G. (1979), 'The Theoretical Relationship between Systematic Risk and Financial Accounting Variables', Journal of Finance, Vol. 34, No. 3 (June), pp. 617-30.
    • (1979) Journal of Finance , vol.34 , Issue.3 JUNE , pp. 617-630
    • Bowman, R.G.1
  • 12
    • 0001280732 scopus 로고
    • The debt equivalence of leases: An empirical investigation
    • - (1980a), 'The Debt Equivalence of Leases: An Empirical Investigation', The Accounting Review, Vol. 55, No. 2 (April), pp. 237-53.
    • (1980) The Accounting Review , vol.55 , Issue.2 APRIL , pp. 237-253
  • 13
    • 0000124022 scopus 로고
    • The importance of a market-value measurement of debt in assessing leverage
    • - (1980b), 'The Importance of a Market-Value Measurement of Debt in Assessing Leverage, ' Journal of Accounting Research, Vol. 18, No. 1 (Spring), pp. 242-54.
    • (1980) Journal of Accounting Research , vol.18 , Issue.1 SPRING , pp. 242-254
  • 14
    • 0011022585 scopus 로고
    • Creative accounting and investment analyst response
    • Breton, G. and R.J. Taffler (1995), 'Creative Accounting and Investment Analyst Response', Accounting and Business Research, Vol. 25, No. 98, pp. 81-92.
    • (1995) Accounting and Business Research , vol.25 , Issue.98 , pp. 81-92
    • Breton, G.1    Taffler, R.J.2
  • 15
    • 0031287365 scopus 로고    scopus 로고
    • Valuation implications of reliability differences: The case of nonpension postretirement obligations
    • Choi, B., D.W. Collins and W.B. Johnson (1997), 'Valuation Implications of Reliability Differences: The Case of Nonpension Postretirement Obligations', The Accounting Review, Vol. 72, No. 3 (July), pp. 351-83.
    • (1997) The Accounting Review , vol.72 , Issue.3 JULY , pp. 351-383
    • Choi, B.1    Collins, D.W.2    Johnson, W.B.3
  • 16
    • 0033236337 scopus 로고    scopus 로고
    • The value relevance of financial statement recognition vs. disclosure: Evidence from SFAS 106
    • Davis-Friday, P.Y., L.B. Folami, C-S. Liu and H.F. Mittelstaedt (1999), 'The Value Relevance of Financial Statement Recognition vs. Disclosure: Evidence from SFAS 106', The Accounting Review, Vol. 74, No. 4 (October), pp. 403-23.
    • (1999) The Accounting Review , vol.74 , Issue.4 OCTOBER , pp. 403-423
    • Davis-Friday, P.Y.1    Folami, L.B.2    Liu, C.-S.3    Mittelstaedt, H.F.4
  • 17
    • 0002362477 scopus 로고
    • The use of annual reports by UK investment analysts
    • Day, J.F.S. (1986), 'The Use of Annual Reports by UK Investment Analysts', Accounting and Business Research, Vol. 16, No. 64 (Autumn), pp. 295-307.
    • (1986) Accounting and Business Research , vol.16 , Issue.64 AUTUMN , pp. 295-307
    • Day, J.F.S.1
  • 18
    • 0009428662 scopus 로고
    • Measurement of financial leverage in the presence of unfunded pension obligations
    • Dhaliwal, D.S. (1986), 'Measurement of Financial Leverage in the Presence of Unfunded Pension Obligations', The Accounting Review, Vol. 61, No. 4 (October), pp. 651-61.
    • (1986) The Accounting Review , vol.61 , Issue.4 OCTOBER , pp. 651-661
    • Dhaliwal, D.S.1
  • 19
    • 0038201380 scopus 로고    scopus 로고
    • Dresdner Kleinwort Benson, (Dresdner Kleinwort Benson Research, London
    • Dresdner Kleinwort Benson (1998), Operating Leases: The Retail House of Cards (Dresdner Kleinwort Benson Research, London).
    • (1998) Operating Leases: The Retail House of Cards
  • 21
    • 21844494527 scopus 로고
    • Operating lease accounting and the market's assessment of equity risk
    • Ely, K.M. (1995a), 'Operating Lease Accounting and the Market's Assessment of Equity Risk', Journal of Accounting Research, Vol. 33, No. 2 (Autumn), pp. 397-415.
    • (1995) Journal of Accounting Research , vol.33 , Issue.2 AUTUMN , pp. 397-415
    • Ely, K.M.1
  • 22
    • 84965751735 scopus 로고
    • Cross-sectional differences in the relation between the accounting return on assets and equity risk
    • - (1995b), 'Cross-Sectional Differences in the Relation between the Accounting Return on Assets and Equity Risk', Journal of Accounting, Auditing and Finance, Vol. 10, No. 3 (Summer), pp. 437-58.
    • (1995) Journal of Accounting, Auditing and Finance , vol.10 , Issue.3 SUMMER , pp. 437-458
  • 23
    • 0002067750 scopus 로고
    • Impact on equity prices of pronouncements related to non-pension post retirement benefits
    • Espahbodi, H., E. Strock and H. Tehranian (1991), 'Impact on Equity Prices of Pronouncements Related to Non-Pension Post Retirement Benefits', Journal of Accounting and Economics, Vol. 14, No. 4 (December), pp. 323-46.
    • (1991) Journal of Accounting and Economics , vol.14 , Issue.4 DECEMBER , pp. 323-346
    • Espahbodi, H.1    Strock, E.2    Tehranian, H.3
  • 27
    • 0038540037 scopus 로고    scopus 로고
    • The debt-equivalency of recognized vs. disclosed obligations: An examination of borrower and lender perceptions
    • Gopalakrishnan, V. and M. Parkash (1996), 'The Debt-equivalency of Recognized vs. Disclosed Obligations: An Examination of Borrower and Lender Perceptions', Research in Accounting Regulation, Vol. 10, pp. 63-77.
    • (1996) Research in Accounting Regulation , vol.10 , pp. 63-77
    • Gopalakrishnan, V.1    Parkash, M.2
  • 28
    • 0001685353 scopus 로고
    • The effect of the firm's capital structure on the systematic risk of common stocks
    • Hamada, R.S. (1972), 'The Effect of the Firm's Capital Structure on the Systematic Risk of Common Stocks', Journal of Finance, Vol. 27, No. 2 (May), pp. 435-52.
    • (1972) Journal of Finance , vol.27 , Issue.2 MAY , pp. 435-452
    • Hamada, R.S.1
  • 29
    • 0003314129 scopus 로고
    • The impact of new pension disclosure rules on perceptions of debt
    • Harper, R.M., W.G. Mister and J.R. Strawser (1987), 'The Impact of New Pension Disclosure Rules on Perceptions of Debt', Journal of Accounting Research, Vol. 25, No. 2 (Autumn), pp. 327-30.
    • (1987) Journal of Accounting Research , vol.25 , Issue.2 AUTUMN , pp. 327-330
    • Harper, R.M.1    Mister, W.G.2    Strawser, J.R.3
  • 30
    • 0003184446 scopus 로고
    • The effect of recognition versus disclosure of unfunded postretirement benefits on lenders' perceptions of debt
    • - - (1991), 'The Effect of Recognition Versus Disclosure of Unfunded Postretirement Benefits on Lenders' Perceptions of Debt', Accounting Horizons, Vol. 5, No. 3 (September), pp. 50-56.
    • (1991) Accounting Horizons , vol.5 , Issue.3 SEPTEMBER , pp. 50-56
  • 31
    • 0001882194 scopus 로고
    • The effect of firm's financial disclosure strategies on stock prices
    • Healy, P.M. and K.G. Palepu (1993), 'The Effect of Firm's Financial Disclosure Strategies on Stock Prices', Accounting Horizons, Vol. 7, No. 1 (March), pp. 1-11.
    • (1993) Accounting Horizons , vol.7 , Issue.1 MARCH , pp. 1-11
    • Healy, P.M.1    Palepu, K.G.2
  • 32
    • 34250764767 scopus 로고
    • De facto capitalization of operating leases: The effect on debt capacity
    • Houlihan, W.A. and A.C. Sondhi (1984), 'De Facto Capitalization of Operating Leases: The Effect on Debt Capacity', Corporate Accounting, Vol. 2, No. 3, pp. 3-13.
    • (1984) Corporate Accounting , vol.2 , Issue.3 , pp. 3-13
    • Houlihan, W.A.1    Sondhi, A.C.2
  • 33
    • 0038540039 scopus 로고
    • Operating leases: Impact of constructive capitalization
    • Imhoff, E.A., R.C. Lipe and D.W. Wright (1991), 'Operating Leases: Impact of Constructive Capitalization', Accounting Horizons, Vol. 5, No. 1, pp. 51-63.
    • (1991) Accounting Horizons , vol.5 , Issue.1 , pp. 51-63
    • Imhoff, E.A.1    Lipe, R.C.2    Wright, D.W.3
  • 34
    • 84965537985 scopus 로고
    • The effects of recognition versus disclosure on shareholder risk and executive compensation
    • - - (1993), 'The Effects of Recognition Versus Disclosure on Shareholder Risk and Executive Compensation', Journal of Accounting, Auditing and Finance, Vol. 8, No. 4 (Fall), pp. 335-68.
    • (1993) Journal of Accounting, Auditing and Finance , vol.8 , Issue.4 FALL , pp. 335-368
  • 35
    • 0011546056 scopus 로고
    • Is footnote disclosure an adequate alternative to financial statement recognition?
    • - - (1995), 'Is Footnote Disclosure an Adequate Alternative to Financial Statement Recognition?' Journal of Financial Statement Analysis, Vol. 1, No. 1 (Fall), pp. 70-81.
    • (1995) Journal of Financial Statement Analysis , vol.1 , Issue.1 FALL , pp. 70-81
  • 36
    • 3042924751 scopus 로고
    • Research on disclosure
    • Johnson, L.T. (1992), 'Research on Disclosure', Accounting Horizons, Vol. 6, No 1 (March), pp. 101-3.
    • (1992) Accounting Horizons , vol.6 , Issue.1 MARCH , pp. 101-103
    • Johnson, L.T.1
  • 38
    • 0000294096 scopus 로고
    • The cost of capital, corporation finance and the theory of investment
    • Modigliani, F. and M. Miller (1958), 'The Cost of Capital, Corporation Finance and the Theory of Investment', American Economic Review, Vol. 48 (June), pp. 261-97.
    • (1958) American Economic Review , vol.48 , Issue.JUNE , pp. 261-297
    • Modigliani, F.1    Miller, M.2
  • 39
    • 0000687546 scopus 로고
    • Corporate income taxes and the cost of capital: A correction
    • - (1963), 'Corporate Income Taxes and the Cost of Capital: A Correction', American Economic Review, Vol. 53, No. 3 (June), pp. 433-43.
    • (1963) American Economic Review , vol.53 , Issue.3 JUNE , pp. 433-443
  • 40
    • 0037525996 scopus 로고
    • An assessment of user reactions to lease accounting disclosure
    • Munter, P. and T.A. Ratcliffe (1983), 'An Assessment of User Reactions to Lease Accounting Disclosure', Journal of Accounting, Auditing and Finance, Vol. 6, No. 2, pp. 108-14.
    • (1983) Journal of Accounting, Auditing and Finance , vol.6 , Issue.2 , pp. 108-114
    • Munter, P.1    Ratcliffe, T.A.2
  • 41
    • 43949157077 scopus 로고
    • The debt equivalence of leases in the UK: An empirical investigation
    • Narayanaswamy, R. (1994), 'The Debt Equivalence of Leases in the UK: An Empirical Investigation', British Accounting Review, Vol. 26, No.4 (December), pp. 337-51.
    • (1994) British Accounting Review , vol.26 , Issue.4 DECEMBER , pp. 337-351
    • Narayanaswamy, R.1
  • 42
    • 77951534417 scopus 로고    scopus 로고
    • PricewaterhouseCoopers Leasing Team, (Tolley Publishing, Croydon)
    • PricewaterhouseCoopers Leasing Team (1998), Tolley's Leasing in the UK (Tolley Publishing, Croydon).
    • (1998) Tolley's Leasing in the UK
  • 43
    • 84993839747 scopus 로고
    • What do we know about capital structure? Some evidence from international data
    • Rajan, R.G. and L. Zingales (1995), 'What Do We Know About Capital Structure? Some Evidence from International Data', Journal of Finance, Vol. 50, No. 5 (December), pp. 1421-60.
    • (1995) Journal of Finance , vol.50 , Issue.5 DECEMBER , pp. 1421-1460
    • Rajan, R.G.1    Zingales, L.2
  • 44
    • 0003377139 scopus 로고
    • Academic accounting research and the standard setting process
    • Schipper, K. (1994), 'Academic Accounting Research and the Standard Setting Process'. Accounting Horizons, Vol. 8, No. 4 (December), pp. 61-73.
    • (1994) Accounting Horizons , vol.8 , Issue.4 DECEMBER , pp. 61-73
    • Schipper, K.1
  • 46
    • 0000095552 scopus 로고
    • A heteroskedasticity-covariance matrix estimator and a direct test for heteroskedasticity
    • White, H. (1980), 'A Heteroskedasticity-covariance Matrix Estimator and a Direct Test for Heteroskedasticity', Econometrica, Vol. 48, pp. 817-38.
    • (1980) Econometrica , vol.48 , pp. 817-838
    • White, H.1
  • 47
    • 0038201383 scopus 로고
    • A behavioural investigation of alternative methods of financing capital acquisitions and lease capitalization
    • Wilkins, T. (1984), 'A Behavioural Investigation of Alternative Methods of Financing Capital Acquisitions and Lease Capitalization', Accounting and Business Research, Vol. 14, No. 56 (Autumn), pp. 359-66.
    • (1984) Accounting and Business Research , vol.14 , Issue.56 AUTUMN , pp. 359-366
    • Wilkins, T.1
  • 48
    • 0010952494 scopus 로고
    • The effect of leasing and different methods of accounting for leases on credit evaluations
    • - and I. Zimmer (1983a), 'The Effect of Leasing and Different Methods of Accounting for Leases on Credit Evaluations', The Accounting Review, Vol. 58, No. 4, pp. 749-64.
    • (1983) The Accounting Review , vol.58 , Issue.4 , pp. 749-764
    • Zimmer, I.1
  • 49
    • 84984127134 scopus 로고
    • The effect of alternative methods of accounting for leases- An experimental study
    • - (1983b), 'The Effect of Alternative Methods of Accounting for Leases - An Experimental Study', Abacus, Vol. 19, No. 1, pp. 64-75.
    • (1983) Abacus , vol.19 , Issue.1 , pp. 64-75


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.