|Appears in Collections:||Accounting and Finance Journal Articles|
|Peer Review Status:||Refereed|
|Title:||Recognition versus disclosure: An investigation of the impact on equity risk using UK operating lease disclosures|
Smith, Sarah Jane
off-balance sheet finance
recognition vs. disclosure
|Citation:||Beattie V, Goodacre A & Smith SJ (2000) Recognition versus disclosure: An investigation of the impact on equity risk using UK operating lease disclosures. Journal of Business Finance and Accounting, 27 (9-10), pp. 1185-1224. https://doi.org/10.1111/1468-5957.00352|
|Abstract:||This study contributes to the debate regarding the equivalency of accounting recognition versus disclosure by investigating the relationship between the market’s assessment of equity risk and off-balance sheet lease disclosures. OLS regression analysis is used to determine whether there is an association between equity risk and an adjustment to financial risk for operating leases, based both on constructive capitalisation and a simple factor method. The observation of a reliably positive association suggests that UK investors/analysts view operating leases from a property rights perspective rather than an ownership perspective. This 'property rights' perspective supports the argument for recognition of all lease rights and obligations 'on-balance sheet', as proposed in the recent G4+1 discussion paper (ASB, 1999).|
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