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dc.contributor.authorGoodacre, Alan-
dc.description.abstractAccounting standard-setters have proposed that the right to use assets (including land and buildings) acquired under operating lease contracts should be recognized on the balance sheet of lessee companies. In recent years, several empirical research studies have investigated the potential impact of the proposed changes in accounting for leases. The current paper reviews this work and presents some new evidence, for a property audience. It summarizes evidence that operating leases represent a major source of finance for many companies generally, and more specifically for companies in the retail sector. Recognition of operating leases on the lessee's balance sheet would have a significant impact on performance measures, especially gearing. If markets are informationally 'efficient' such changes should have little impact. However, research evidence on efficiency with respect to lease accounting information is mixed. What's more, company managers do not believe that the market is efficient so are likely to behave as if the markets are 'inefficient'.  Possible reactions include reduced use of leasing, shorter lease contract terms, more break clauses, or increased use of contingent rental agreements. It seems likely that lessors will be under pressure to bear greater risks.en_UK
dc.publisherTaylor & Francis (Routledge)-
dc.relationGoodacre A (2003) Assessing the potential impact of lease accounting reform: A review of the empirical evidence, Journal of Property Research, 20 (1), pp. 49-66.-
dc.rightsThis is an Author's Accepted Manuscript of an article published in Journal of Property Research, Volume 20, Issue 1, 2003, pp. 49-66, copyright Taylor & Francis, available online at:
dc.subjectoff-balance sheet finance retailen_UK
dc.titleAssessing the potential impact of lease accounting reform: A review of the empirical evidenceen_UK
dc.typeJournal Articleen_UK
dc.citation.jtitleJournal of Property Research-
dc.type.statusPost-print (author final draft post-refereeing)-
dc.description.notesThis paper was presented at the RICS Cutting Edge 2001 Conference, Oxford.en_UK
dc.contributor.affiliationAccounting and Finance-
Appears in Collections:Accounting and Finance Journal Articles

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