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RESEARCH IN GOVERNMENTAL AND NONPROFIT ACCOUNTING VOLUME 11
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We present a review of the governmental capital markets research that has been conducted since Ingram et al. (1987). The review indicates that much of the research conducted in the last fifteen years involves the new issue bond market. Increased attention is also given to research in the secondary market. However, much of the secondary market research fails to examine the specific relationship between secondary market returns and accounting information. To that end, we provide evidence of the relationship between secondary market bond yields and two accounting variables used in prior studies. Our results indicate that accounting information is significantly associated with the yields of infrequent bond issuers, supporting research conducted in the new issues market.
Given the many policy developments related to financial reporting and disclosures that have occurred over the past 10–15 years, additional
PAUL A. COPLEY - Personal Name
Second Edition
0884-0741
NONE
RESEARCH IN GOVERNMENTAL AND NONPROFIT ACCOUNTING VOLUME 11
Accounting
English
2004
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