Abstract

http://ssrn.com/abstract=1995124
 
 

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Financial Reporting Quality of U.S. Private and Public Firms


Ole-Kristian Hope


University of Toronto - Rotman School of Management

Wayne B. Thomas


University of Oklahoma - Michael F. Price College of Business

Dushyantkumar Vyas


University of Toronto - Rotman School of Management; University of Toronto at Mississauga

December 14, 2012

The Accounting Review, September 2013
Rotman School of Management Working Paper No. 1995124

Abstract:     
Using a new database that contains accounting data for a large sample of U.S. private firms, we provide an investigation of financial reporting quality (FRQ) of U.S. private versus public firms. We find that in general public firms have higher accrual quality and are more conservative. The results are consistent with public firms’ reporting reflecting greater demand for financial information. However, these reporting qualities of public firms are mitigated or eliminated in settings where public firms are more likely to manage earnings or face reduced demand for their financial information. Our study contributes not only to the current debate on private versus public financial accounting but also to the broader literature attempting to understand the determinants of FRQ.

Number of Pages in PDF File: 49

Keywords: Private firms, financial reporting quality, public versus private, demand, opportunism, mitigating factors

JEL Classification: M41, G30, M10

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Date posted: January 30, 2012 ; Last revised: March 6, 2013

Suggested Citation

Hope, Ole-Kristian and Thomas, Wayne B. and Vyas, Dushyantkumar, Financial Reporting Quality of U.S. Private and Public Firms (December 14, 2012). The Accounting Review, September 2013; Rotman School of Management Working Paper No. 1995124. Available at SSRN: http://ssrn.com/abstract=1995124 or http://dx.doi.org/10.2139/ssrn.1995124

Contact Information

Ole-Kristian Hope (Contact Author)
University of Toronto - Rotman School of Management ( email )
105 St. George Street
Toronto, Ontario M5S 3E6
Canada
HOME PAGE: http://www.rotman.utoronto.ca/FacultyAndResearch/Faculty/FacultyBios/Hope.aspx
Wayne B. Thomas
University of Oklahoma - Michael F. Price College of Business ( email )
Michael F. Price College of Business,
307 W Brooks, Rm 212B
Norman, OK 73019
United States
405-325-5789 (Phone)
405-325-7348 (Fax)
Dushyantkumar Vyas
University of Toronto - Rotman School of Management ( email )
105 St. George Street
Toronto, Ontario M5S 3E6
Canada
University of Toronto at Mississauga ( email )
3359 Mississauga Rd N.
Mississauga, Ontario L5L 1C6
Canada
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