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Managerial investment and changes in...

Shroff, Nemit Omprakash.

Managerial investment and changes in GAAP: An internal consequence of external reporting.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Managerial investment and changes in GAAP: An internal consequence of external reporting.
Author:	Shroff, Nemit Omprakash.
Description:	91 p.
Notes:	Source: Dissertation Abstracts International, Volume: 72-08, Section: A, page: .
Notes:	Advisers: Michelle L. Hanlon; Russell J. Lundholm.
Contained By:	Dissertation Abstracts International72-08A.
Subject:	Business Administration, Accounting.
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3459067
ISBN:	9781124687537

Managerial investment and changes in GAAP: An internal consequence of external reporting.
Shroff, Nemit Omprakash.

Managerial investment and changes in GAAP: An internal consequence of external reporting. - 91 p.

Source: Dissertation Abstracts International, Volume: 72-08, Section: A, page: .

Thesis (Ph.D.)--University of Michigan, 2011.

This paper investigates whether mandatory changes in Generally Accepted Accounting Principles (GAAP) affect investment in physical capital and research and development. Using a sample containing forty-nine changes in GAAP, I find evidence that changes in accounting rules affect investment decisions. I then examine two mechanisms through which changes in GAAP affect investment. First, I show that the process of complying with certain mandatory changes in financial reporting alters managers' information sets and consequently changes the quality of their investment decisions. Second, I show that firms with financial covenants likely to be affected by changes in GAAP invest more (less) when the change in GAAP increases (decreases) covenant slack. This paper contributes to the literature on the real effects of accounting by showing that accounting rules affect investment decisions and by documenting specific mechanisms through which the relation manifests.

ISBN: 9781124687537Subjects--Topical Terms:

227519
Business Administration, Accounting.

Managerial investment and changes in GAAP: An internal consequence of external reporting.
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245 1 0 $a Managerial investment and changes in GAAP: An internal consequence of external reporting.
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500 $a Source: Dissertation Abstracts International, Volume: 72-08, Section: A, page: .
500 $a Advisers: Michelle L. Hanlon; Russell J. Lundholm.
502 $a Thesis (Ph.D.)--University of Michigan, 2011.
520 $a This paper investigates whether mandatory changes in Generally Accepted Accounting Principles (GAAP) affect investment in physical capital and research and development. Using a sample containing forty-nine changes in GAAP, I find evidence that changes in accounting rules affect investment decisions. I then examine two mechanisms through which changes in GAAP affect investment. First, I show that the process of complying with certain mandatory changes in financial reporting alters managers' information sets and consequently changes the quality of their investment decisions. Second, I show that firms with financial covenants likely to be affected by changes in GAAP invest more (less) when the change in GAAP increases (decreases) covenant slack. This paper contributes to the literature on the real effects of accounting by showing that accounting rules affect investment decisions and by documenting specific mechanisms through which the relation manifests.
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