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主题：Does ASC842 increase the usefulness of Balance Sheet—Evidence from private debt markets (ASC842是否增加了资产负债表的有用性——来自债券市场的证据)

主讲人：李佳音 助理教授

主持人：赵珂意 副教授

时间：2024年5月31日 14:00-15:30

会议地点：澳门bet356体育在线官网柳林校区诚正楼650会议室

主办单位：新时代中国特色财务与会计理论创新与方法体系研究团队 数字经济重大基础理论与实践创新研究团队 澳门bet356体育在线官网 科研处

主讲人简介：李佳音，对外经济贸易大学助理教授，2021年博士毕业于美国罗格斯大学，主要研究方向为信贷市场和会计信息质量。其论文在AAA年会、EAA年会、Diversity conference (University of Chicago)等重要经济学和会计学会议中进行展示。担任美国会计学年会、审计研究等期刊匿名审稿人。

内容简介：

The implementation of ASC842 on operating leases boosts considerable debates among standards setters, managers and stakeholders. In this study, we answer the call for research made jointly by the FASB, IASB, and AAA by examining the impact of ASC 842 on loan contracting, especially for the change in the use of different types of covenants. Our results find that after the adoption of the new operating lease standards, lessee firms have more leverage related covenants comparing to performance-related covenants. The shift from performance-related covenants to capital-related covenants is more pronounced for firms with higher level of financial constraints, with greater reporting incentives to use operating leases, and with higher quality of accounting information prior to the adoption. We also find evidence that the loan price has increased after the adoption of ASC842. However, we find no evidence that the adoption of ASC842 leads to changes in covenants amendments, accounting quality, or sales growth. Our study adds to the literature on the real impacts of accounting standards on lessee firms and creditors.

在这项研究中，我们响应了FASB、IASB和AAA联合提出的研究呼吁，研究了ASC 842对贷款合同的影响，特别是对不同类型契约使用的变化。研究结果发现，在采用新的经营租赁准则后，与利润表相关条款相比，承租人公司拥有更多的资产负债表相关条款。这一现象对于会计信息质量较高、长期经营租赁合同较多的公司来说更为明显。我们还发现在采用ASC842后，借贷的价格有所上涨。然而，我们没有发现任何证据表明ASC842的采用会影响契约的修正、企业会计信息质量的变化、或销售额的变化。我们的研究补充了会计准则对债务人和债权人实际影响的研究。