政府财务报表和信用风险

IF 0.9 Q4 PUBLIC ADMINISTRATION

Public Budgeting and Finance Pub Date : 2012-03-01 DOI:10.1111/J.1540-5850.2011.01003.X

CRAIG L. Johnson, Sharon N. Kioko, W. Hildreth

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引用次数: 69

摘要

既然州政府根据政府会计准则委员会第34号声明发布全面的年度财务报告，就有可能产生一套一致和全面的政府范围内的财务信息。我们利用这些信息从传统普通基金以外的信息中制定财务比率，以基准政府财务绩效，并检验将这些信息纳入信用风险评估的假设。本文对政府财务信息纳入州政府信用评级的实证分析，为认证理论提供了实证检验，并展示了政府财务报表信息如何注入金融市场。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Government-wide Financial Statements and Credit Risk

Now that state governments issue comprehensive annual financial reports in accordance with Statement No. 34 of the Governmental Accounting Standards Board, it is possible to generate a consistent and comprehensive set of government-wide financial information. We use the information to develop financial ratios to benchmark government financial performance from information beyond the traditional general fund, and test the hypothesis that such information is incorporated into the assessment of credit risk. We provide an empirical analysis of the incorporation of government-wide financial information into state government credit ratings, which provides a positive empirical test of the theory of certification and demonstrates how information from the government-wide financial statements is infused into financial markets.

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来源期刊

Public Budgeting and Finance PUBLIC ADMINISTRATION-

CiteScore

2.10

自引率

14.30%

发文量

期刊介绍： Public Budgeting & Finance serves as a forum for the communication of research and experiences on all facets of government finance and provides meaningful exchange between research from universities, private and nonprofit research institutes, practitioners in public financial markets, government agencies, and the experience of those who practice government budgeting and finance. Researchers, practitioners, and teachers of applied government finance turn to Public Budgeting & Finance to find understandable, reliable, and thoughtful analysis of issues important in the field. The content of the journal spans the spectrum of budget process and policy and financial management, is never limited to one level of government or even to one country, and always even-handedly crosses disciplines and approaches in applied government finance.