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- Blomkvist, Marita, 1959-, et al.
(författare)
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The cost of debt implications of financial reporting quality among privately owned Swedish SMEs
- 2012
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Konferensbidrag (refereegranskat)abstract
- Using a unique database and manually collected data we analyse and document accounting choices made by Swedish SMEs between 2005 and 2008. We find that given an option to report under Swedish GAAP or a translation of IFRS (SFASC/IFRS), only 5 firms out of 1,500 opted to do so. Further analysis of choices of picking individual standards of SFASC/IFRS shows no significant difference across Gazelles and Non-Gazelles. Among firms that select individual SFASC/IFRS standards most opt to use the percentage-of-completion method for long-term contracts. We also investigate differences in quality of financial reporting across Gazelles and Non-Gazelles and find that the financial reporting quality is consistently higher among Gazelles compared to Non-Gazelles. Test of cost of debt implications show that creditors find Gazelles’ financial reporting more useful to assess the credit risk resulting in lower cost of debt for this group of firms. Thus, SMEs seem to have little incentive to switch to SFASC/IFRS, which may be an indication of their attitude to future adoption of IFRS for SMEs as well. Furthermore, the results suggest that SMEs with an incentive to produce high quality financial reporting to raise capital, Gazelles, are able to do so using Swedish GAAP. These findings raise the question whether the IFRS for SMEs project is worthwhile.
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| 4. |
- Elliot, Viktor, et al.
(författare)
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Artificial Intelligence for Decision Makers
- 2020
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Ingår i: Journal of Emerging Technologies in Accounting. - : American Accounting Association. - 1554-1908 .- 1558-7940. ; 17:1, s. 51-55
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Tidskriftsartikel (refereegranskat)abstract
- We propose an exercise with the purpose of providing a basic understanding of key concepts within AI and extending the understanding of AI beyond mathematics. The exercise allows participants to carry out analysis based on accounting data using visualization tools as well as to develop their own machine learning algorithms that can mimic their decisions. Finally, we also problematize the use of AI in decision-making, with such aspects as biases in data and/or ethical concerns.
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| 7. |
- Impink, J., et al.
(författare)
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Regulation-induced Disclosures: Evidence of Information Overload?
- 2022
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Ingår i: Abacus-a Journal of Accounting Finance and Business Studies. - : Wiley. - 0001-3072. ; 58:3, s. 432-478
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Tidskriftsartikel (refereegranskat)abstract
- Researchers, regulators, and practitioners have expressed concerns that the increase in disclosures in annual reports of firms over the past decades has resulted in unintended consequences for financial statement users. We investigate whether increases in disclosure requirements are associated with increased difficulty to use financial statements. We create an index measuring firms' increasing exposure to regulation-induced disclosures in their 10-K filings and show that a higher index is on average associated with longer analyst delay, lower analyst accuracy, and higher dispersion. Consistent with information overload theory, we also find evidence consistent with an inverted-U curve: As regulation-induced disclosures increase, the decision quality of analysts initially increases. However, above a certain level of disclosures, increases in disclosures are associated with a decrease in the decision quality of analysts, as evidenced by an increase in analyst delay and dispersion and a decrease in accuracy. In addition, these adverse effects are more pronounced when analysts are less experienced, follow more firms, and have access to fewer resources. Overall, the findings suggest that increases in regulation-induced disclosures, above a certain level, are associated with information overload.
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| 10. |
- Paananen, Mari, 1963, et al.
(författare)
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Causes and Consequences of Improvements in the Information Environment for Swedish Small and Mid-Sized Firms.
- 2016
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Ingår i: Accounting in Europe. - : Informa UK Limited. - 1744-9499 .- 1744-9480. ; 13:1, s. 21-42
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Tidskriftsartikel (refereegranskat)abstract
- We investigate improvements in the information environment and financing decisions for Swedish small and mid-sized firms. These firms are required to file audited annual reports. We create an index capturing accounting standards choices, auditor quality, and board size reflecting information environment improvements. We find an association between increased short-term financing and information environment improvements: The most common actions are to switch to a Big 4 auditor or a chartered accountant and to add independent board members as opposed to changing the accounting standards used. These improvements are associated with a switch to long-term debt and a reduction of cost of debt. Our findings are relevant for the ongoing discussion on accounting regulation for private firms both in the USA and Europe since they show that (Swedish) private firms use other ways to improve the information environment in order to access to less costly long-term bank debt besides adopting International Financial Reporting Standards.
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