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Supply and Demand of Accounting Information: The Case of Bank Financing in RussiaIgor GoncharovWHU - Otto Beisheim School of Management Jochen ZimmermannUniversity of Bremen - Faculty of Business Studies and Economics; University of Bremen - Chair of Accounting and Control July 2006 Abstract: The article analyzes uses of accounting information in Russia. We assess the reporting behavior in the lending process for a sample of Russian companies in the years 1999 to 2004. We predict that Russian companies manage earnings to avoid losses before a credit was granted to obtain bank financing. Once the credit was granted companies are predicted to manage earnings because of the bank's monitoring activities. By means of univariate and multivariate analysis we are able to attribute the discontinuity around a zero target in the earnings distribution with firms' response to the banks' assessment of accounting performance. This implies that financing considerations affect reporting incentives of Russian companies.
Number of Pages in PDF File: 35 Keywords: earnings management, reporting incentives, bank financing, transition economies JEL Classification: G21, M41, P21 working papers seriesDate posted: July 27, 2006Suggested CitationContact Information
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