管理能力和审计报告的可读性是否会影响公司的流动性和债务成本?

IF 2.3 Q2 BUSINESS, FINANCE
Tamanna Dalwai, Ahmed Mohamed Habib, Syeeda Shafiya Mohammadi, K. Hussainey
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引用次数: 8

摘要

目的研究阿曼上市工业公司管理能力和审计报告可读性对债务成本和公司流动性的影响。设计/方法/方法该研究使用了标准普尔资本IQ数据库的数据和马斯喀特证券市场上发布的经审计的年度报告。样本包括2015年至2019年的35家公司(175家公司年度观察)。运用Demerjian等人提出的数据包络分析方法来衡量管理能力。(2012a,b)。审计报告的可读性是以Loughran和McDonald(2014)提出的审计报告数字文件大小的日志来衡量的。研究发现,公司的管理能力降低了对高层和代理理论的债务借贷支持成本。工业公司的高素质经理与公司流动性的增加有关,这与持有现金的预防动机一致。此外,可读性较差的审计报告会导致债务成本上升,并降低公司流动性。原创性/价值据作者所知,很少有研究探讨管理能力和审计师报告可读性对公司财务政策的影响。对于工业部门的公司,本研究表明,审计师可读性的管理能力和可读性是债务成本和公司流动性的重要决定因素,尤其是在不确定时期。因此,研究结果可以推广到该国和中东的其他非金融部门公司。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Does managerial ability and auditor report readability affect corporate liquidity and cost of debt?
PurposeThis study investigates the impact of managerial ability and auditor report readability on the cost of debt and corporate liquidity in Omani-listed industrial companies.Design/methodology/approachThe study uses data from the S&P Capital IQ database and audited annual reports published on Muscat Securities Market. The sample consists of 35 firms (175 firm-year observations) from 2015 to 2019. Managerial ability is measured using the data envelopment analysis proposed by Demerjian et al. (2012a, b). Auditor report readability is measured as a log of the auditor report digital file size proposed by Loughran and McDonald (2014).FindingsThis study finds that a company's managerial ability reduces the cost of debt lending support to upper echelons and agency theory. Highly able managers of industrial companies are associated with increased corporate liquidity consistent with the precautionary motive of holding cash. In addition, less-readable auditor reports contribute to higher debt costs and reduce corporate liquidity.Originality/valueTo the best of the authors’ knowledge, few studies have explored the influence of managerial ability and auditor reporting readability on firms' financial policy. For industrial-sector firms, this study demonstrates the managerial ability and readability of auditor readability as significant determinants of the cost of debt and corporate liquidity, especially during periods of uncertainty. Thus, the findings can be generalized to other non-financial sector firms in the country and the Middle East.
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来源期刊
Asian Review of Accounting
Asian Review of Accounting BUSINESS, FINANCE-
CiteScore
3.20
自引率
25.00%
发文量
32
期刊介绍: Covering various fields of accounting, Asian Review of Accounting publishes research papers, commentary notes, review papers and practitioner oriented articles that address significant international issues as well as those that focus on Asia Pacific in particular.Coverage includes but is not limited to: -Financial accounting -Managerial accounting -Auditing -Taxation -Accounting information systems -Social and environmental accounting -Accounting education Perspectives or viewpoints arising from regional, national or international focus, a private or public sector information need, or a market-perspective or social and environmental perspective are greatly welcomed. Manuscripts that present viewpoints should address issues of wide interest among accounting scholars internationally and those in Asia Pacific in particular.
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