... of Hong Kong, Department of Accountancy, Hong Kong, China. All authors contributed equally. Editor's note: Accepted by Jagan Krishnan, under the Senior Editorship of Teri Lombardi Yohn. 1 1 2018 1 1 2021 2021 individual auditors financial statement comparability industry...

...Hyejin Ahn; Sunhwa Choi; Sunho Chris Yun SYNOPSIS We examine how financial statement comparability affects the market value of cash holdings. Using a sample of U.S. firms from 1991 through 2013, we find that the marginal value of cash holdings is higher for firms with financial statements...

... that comparability is a key tenet of accounting because it allows users of financial statements to benchmark a firm against similar firms when distinguishing between alternative investment opportunities. We provide evidence that greater financial statement comparability is associated with lower cost of equity...

...Xiaohua Fang; Yutao Li; Baohua Xin; Wenjun Zhang SYNOPSIS In this study, we examine whether and how borrowing firms' financial statement comparability affects the contracting features of syndicated loans. Using a sample of loans issued by U.S. public firms in the syndicated loan market over...