1、1 1900 单词， 1 万英文字符， 3400 汉字 出处： Schroeder R G, Sevin S K, Schauer D. The Economic Consequences of the Statement of Financial Accounting Standards (SFAS) No. 150J. International Advances in Economic Research, 2006, 12(4):498-504. 原文 ： The Economic Consequences of the Statement of Financial Accounting
2、 Standards (SFAS) No. 150 RG Schroeder， SK Sevin， D Schauer Abstract SFAS No. 150, Accounting For Certain Financial Instruments with Characteristics of Both Liabilities and Equity (SFAS 150), requires companies to report mandatorily redeemable preferred stock (MRPS) as a liability, and the dividends
3、 on these securities as interest expense. The purpose of this study is to examine the economic consequences of SFAS 150_s adoption on a sample of public companies. Our analysis indicates that adoption resulted in both intended and possible unintended economic consequences. Specifically: (1) the impa
4、ct of SFAS 150 on non-public companies caused the FASB to review its position on the disclosures concerning MRPS; (2) some companies redeemed their MRPS prior to the adoption date of the standard; and (3) approximately 4% of sample firms were required to disclose MRPS as a liability. (JEL M41) Keywo
5、rds: economic consequences, Financial Accounting Standards Board, SFAS 150 Introduction The economic consequences of accounting standards have been a topic of interest for over two decades. FEconomic consequences_ refer to the impact of accounting reports on various segments of our economic society
6、Zeff, 1978, p.56. Since the identification of this issue, there have been a number of studies that have investigated the economic consequences of accounting standards Guay et al., 2003; Dechow et al., 1996; Khurana and Loudder, 1994; Wasley and Linsmeier, 1992; Stone and Ingram, 1988. 2 Background The amount of a companys long-term debt relative to its equity is relevant because the debt-to-equity ratio is directly related to the risk assoc
