The MFOA Certificate of Conformance and Municipal Borrowing Costs
Advances in Accounting, 1986: 221-232
Posted: 21 Aug 2014
Date Written: 1986
This paper provides an empirical test of the association between the MFOA Certificate of Conformance and creditor decisions in the market for new municipal bond issues. We report that the certificate does have information content for creditor decisions, particularly for medium quality bonds.
Keywords: MFOA Certificate of Conformance, Governmental Borrowing costs
JEL Classification: M41, M42, M48
Suggested Citation: Suggested Citation