Accounting and contracting choices around a change in fiduciary duties

• المؤلفون الرئيسيون: BENS, Daniel, HUANG, Sterling, TAN, Liang, WONGSUNWAI, Wan
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2017
• الموضوعات: accounting choice; debt contracting; fiduciary duties; corporate governance; Accounting; Corporate Finance
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soa_research/1298; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=2297&context=soa_research

We exploit an influential 1991 Delaware court ruling to examine the impact of changes in managerial fiduciary duties on firms’ accounting and contracting choices. The ruling expanded directors’ fiduciary duties in favor of creditors and away from shareholders for a specific group of firms. Using a h...