An Empirical Research on the Effects of Debt Maturity Structure on Conditional Conservatism Evidence from Private Listed Companies’ Data in 2011
With the development of Chinas capital market,more and more companies recognize the advantages of debt financing.As private listed companies are taking more and more important roles in economical development,it is essential to analyze the debt financing.Data show that the financial leverage of private listed company has increased steadily in recent years.Based on Chinas Private Listed Companies’ data in 2011,we use Basu model to study the effect of debt maturity structure on conditional conservatism.The results show that long-term debt has a significant positive reaction on and conditional conservatism.We suggest private listed companies should make debt maturity structure reasonable and keep accounting conservatism within an acceptable range,and regulators should strengthen the monitoring on debt financing and accounting information quality of private listed companies to protect the benefit of creditors.
private listed company debt maturity structure accounting conservatism Basu Model
DU Xiaorong WU Xiaojie
Business School,Hohai University,Nanjing,China,211100
国际会议
大连
英文
94-97
2013-06-29（万方平台首次上网日期，不代表论文的发表时间）