The MFOA Certificate of Conformance and Municipal Borrowing Costs

Advances in Accounting, 1986: 221-232

Posted: 21 Aug 2014

See all articles by Earl D. Benson

Earl D. Benson

Western Washington University - Finance and Marketing Department

Barry R. Marks

University of Houston, Clear Lake - School of Business and Public Administration

K. K. Raman

The University of Texas at San Antonio

Date Written: 1986

Abstract

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

Benson, Earl D. and Marks, Barry R. and Raman, K. K., The MFOA Certificate of Conformance and Municipal Borrowing Costs (1986). Advances in Accounting, 1986: 221-232. Available at SSRN: https://ssrn.com/abstract=2483124

Earl D. Benson

Western Washington University - Finance and Marketing Department ( email )

FMDS Department MS 9077
Bellingham, WA 98225-9077
United States
360-650-3375 (Phone)
360-650-4844 (Fax)

Barry R. Marks

University of Houston, Clear Lake - School of Business and Public Administration ( email )

Houston, TX 77058
United States

K. K. Raman (Contact Author)

The University of Texas at San Antonio ( email )

One UTSA Circle
San Antonio, TX 78249
United States
210-458-8749 (Phone)

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