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    Accounting-policy choice and firm characteristics in the Asia pacific region: an international empirical test of costly contracting theory

    Access Status
    Fulltext not available
    Authors
    Astami, E.
    Tower, Greg
    Date
    2006
    Type
    Journal Article
    
    Metadata
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    Citation
    Astami, Emita and Tower, Greg. 2006. Accounting-policy choice and firm characteristics in the Asia pacific region: an international empirical test of costly contracting theory. The International Journal of Accounting. 41 (1): pp. 1-21.
    Source Title
    The International Journal of Accounting
    DOI
    10.1016/j.intacc.2005.12.004
    ISSN
    00207063
    Faculty
    Curtin Business School
    School of Accounting
    Remarks

    The link to the journal’s home page is: http://www.elsevier.com/wps/find/journaldescription.cws_home/620179/description#description

    Copyright © 2006 Elsevier Ltd. All rights reserved

    URI
    http://hdl.handle.net/20.500.11937/46725
    Collection
    • Curtin Research Publications
    Abstract

    This study provides evidence on the cross-sectional relationship between firm-specific variables and management's choice of accounting policies by examining four key accounting-policy disclosures in the 2000/2001 annual reports of 442 listed companies in the Asia Pacific region. The dependent variable is the composite measure for the income increasing (decreasing) accounting-policy choice tendency. The results show that firm-specific variables linked to Costly Contracting Theory partially explain management's choice of accounting policies. Companies that pursue income-increasing accounting techniques are characterized by lower financial leverage, lower level of ownership concentration, and higher investment opportunity sets. This finding holds true when country and industry control variables are not considered. When the control variables are included, the CCT variables are less a factor and instead country of reporting provides the strongest explanation for company managers' choice of accounting policies. Indonesian companies utilize the most income-decreasing accounting technique.

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