• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文OA文献 >The impact of tax and financial reporting concerns on lessee firms' lease-type decision: Capital, operating, and synthetic leases
【2h】

The impact of tax and financial reporting concerns on lessee firms' lease-type decision: Capital, operating, and synthetic leases

机译：税收和财务报告问题对承租人租赁类型决定的影响：资本租赁，经营租赁和综合租赁

页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

This project clarifies previous ambiguity about the role of tax and financial reporting concerns in lessee firms' lease-type decisions. A private data set provided by anonymous lessor firms is used to accurately identify for the first time the lessee's lease-type and its use of related tax deductions. This project also considers for the first time the role of hybrid lease products such as the synthetic lease in managers' ability to balance firms' tax versus financial reporting concerns. Prior research even in the period after synthetic leases were introduced to the market relied on noisy public data that was unable to parse out lease-types and tax deduction use with unambiguous tax versus financial incentives. Contrary to prior studies, consistent strong evidence is provided indicating that lease choice varies with proxies for lessee firms' marginal tax rates (MTR's). Also contrary to previous research, only weak evidence is found for the role of financial reporting concerns as proxied by leverage measures. The strong results on the MTR variable, taken with the weak results on the leverage variable suggest that tax costs are a stronger influence on leasing choice than financial incentives. This general conclusion about the stronger role of tax incentives in comparison to financial reporting incentives is not consistent with the summary findings of previous research. However, these results support widely held expectations by leasing industry experts. This evidence is also consistent with beliefs about the relative efficiency of the financial market to appropriately value disclosed accounting information.
机译：该项目澄清了以前关于税收和财务报告问题在承租人公司的租赁类型决策中的作用的含糊之处。匿名出租人公司提供的私人数据集可用于首次准确识别承租人的租赁类型及其使用的相关税收减免。该项目还首次考虑了混合租赁产品（例如合成租赁）在管理人员平衡公司税与财务报告方面的能力方面的作用。甚至在将合成租赁引入市场后的这段时间里，以前的研究都依赖于嘈杂的公共数据，而这些数据无法解析租赁类型和税收抵免以及明确的税收优惠和财务激励措施。与先前的研究相反，提供了一致的有力证据，表明租赁选择随承租人公司边际税率（MTR）的代理而异。同样与先前的研究相反，只有杠杆作用所替代的财务报告关注作用的证据很少。 MTR变量的强结果和杠杆变量的弱结果表明，与财务激励措施相比，税收成本对租赁选择的影响更大。关于税收激励措施比财务报告激励措施更强大的一般结论与以前的研究结果不一致。但是，这些结果支持了租赁行业专家的广泛期望。该证据也与关于金融市场适当地对所披露的会计信息进行估值的相对效率的信念相一致。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号