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حسابداری و مالی::
سهامدار
Kothari, Ramana, and Skinner (2010) argue that conservatism can also alleviate agency conflicts between managers and shareholders.
Watts (2003a) also offers shareholder litigation, taxation, and regulators' incentives as additional explanations for conservatism.
(2009) examine a setting in which the role of the accounting based debt covenant is to allocate control rights between shareholders and lenders over the decision to liquidate or continue a project that has already been financed by the lenders.
For example, while lenders are likely to care more about the firms' cash flows over the life of the loan, shareholders may prefer a performance metric that better predicts cash flows over longer horizons.
In this example, excluding goodwill impairment from the performance covenant earnings would improve its cash flow predictive ability over the horizon relevant for the bank even though the goodwill impairment could still be useful to shareholders who would be interested in cash flows over both short and long horizons.
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