Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 4 of 4
Full-Text Articles in Business
Online Learning Tool On External Financing Needs, Yuanto Kusnadi
Online Learning Tool On External Financing Needs, Yuanto Kusnadi
Research Collection School Of Accountancy
In collaboration with colleagues at the Centre ofTeaching Excellence (CTE), I have developed an innovative online learningobject on External Financing Needs. This tool is designed to introduce a noveland refreshing way in teaching accounting and finance concepts to students andto create a more interactive learning experience in the classroom. The online learning tool is used in the two courses:Accounting for Entrepreneurs and Financial Management, to explain the relevantconcepts related to financial forecasting and financial planning. One unique feature about the learning object is that itprovides instantaneousfeedback to students as they can learn whether the numbers theyprovide are correct/wrong (as indicated …
Comments On Discussion Paper "Financial Instruments With Characteristics Of Equity" (Fice), Pearl Hock-Neo Tan
Comments On Discussion Paper "Financial Instruments With Characteristics Of Equity" (Fice), Pearl Hock-Neo Tan
Research Collection School Of Accountancy
Comments are given on the Discussion Paper issued by the International Accounting Standards Board in June 2018 on Financial Instruments with Characteristics of Equity. The comments are given in response to the Board's public invitation for feedback on the Discussion Paper. The comments convey the author's concerns about the Discussion Paper's proposals in the light of the conceptual framework of financial reporting and a fundamental understanding of what equity and liability is. The comments propose approaches that the Board may consider in its subsequent development of its proposals.
Leveling The Playing Field Between Large And Small Institutions: Evidence From The Sec’S Xbrl Mandate, Nilabhra Bhattacharya, Young Jun Cho, Jae B. Kim
Leveling The Playing Field Between Large And Small Institutions: Evidence From The Sec’S Xbrl Mandate, Nilabhra Bhattacharya, Young Jun Cho, Jae B. Kim
Research Collection School Of Accountancy
We investigate how XBRL adoption affects smaller institutions’ access to financial statement information relative to their larger counterparts. We examine three aspects of trading responsiveness: abnormal trading volume, response speed to 10-K information, and decision to trade immediately following the 10-K filing. With regard to all three aspects of trading responsiveness, we find that small institutions’ responsiveness to 10-K news increases significantly more relative to the change experienced by large institutions from the pre- to post-XBRL periods. We further document that small institutions’ stock picking skills in the 10-K filing period increase more compared to those of large institutions following …
Debt Heterogeneity And Covenants, Yun Lou, Clemens A. Otto
Debt Heterogeneity And Covenants, Yun Lou, Clemens A. Otto
Research Collection School Of Accountancy
Coordination failure among owners of heterogeneous debt types increases distress costs. Covenants reduce expected distress costs by lowering the probability of liquidity shortages, increasing liquidation values, and incentivizing creditor monitoring. We predict and find that new debt contracts include more covenants when borrowers' existing debt structures are more heterogeneous. Our findings suggest that covenants are not only used to address creditor-shareholder conflicts but also to reduce the expected costs of coordination failure among creditors. Further, our results indicate a dynamic component missing from static debt structure models: Debt heterogeneity entails additional covenants (i.e., constraints) when raising future debt.