State and local governments are not subject to Securities and Exchange Commission (SEC) regulations requiring compliance with generally accepted accounting principles (GAAP). It was only in 1980 that Standard & Poor's issued a policy statement indicating a failure to conform with GAAP would be...

Available evidence suggests that state and local government pension plans may be substantially underfunded. The capitalization of these unfunded obligations in borrowing costs is an important public policy issue, since noncapitalization may lead to the misallocation of credit and stimulate the...

This research investigates the association between discretionary disaggregation in mandatory risk disclosures, audit conservatism and the implied cost of capital (ICOE). Based on a sample of 141 financial firms from six GCC countries over the 2007-2011 period, we find that the ICOE is...

This research investigates the association between discretionary disaggregation in mandatory risk disclosures, audit conservatism and the implied cost of capital (ICOE). Based on a sample of 141 financial firms from six GCC countries over the 2007-2011 period, we find that the ICOE is...

This paper investigates the impact of the corporate life cycle on the cost of equity capital. Using a sample of Australian firms during the years 1990–2012, we find that the proxies for the cost of equity capital vary across the life cycle of the firm. In particular, we find that the cost of...