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Accounting Information in Financial Contracting: The Incomplete Contract Theory Perspective

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  • HANS B. CHRISTENSEN
  • VALERI V. NIKOLAEV
  • REGINA WITTENBERG‐MOERMAN

Abstract

This paper reviews theoretical and empirical work on financial contracting that is relevant to accounting researchers. Its primary objective is to discuss how the use of accounting information in contracts enhances contracting efficiency and to suggest avenues for future research. We argue that incomplete contract theory broadens our understanding of both the role accounting information plays in contracting and the mechanisms through which efficiency gains are achieved. By discussing its rich theoretical implications, we expect incomplete contract theory to prove useful in motivating future research and in offering directions to advance our knowledge of how accounting information affects contract efficiency.

Suggested Citation

  • Hans B. Christensen & Valeri V. Nikolaev & Regina Wittenberg‐Moerman, 2016. "Accounting Information in Financial Contracting: The Incomplete Contract Theory Perspective," Journal of Accounting Research, Wiley Blackwell, vol. 54(2), pages 397-435, May.
  • Handle: RePEc:bla:joares:v:54:y:2016:i:2:p:397-435
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    File URL: https://doi.org/10.1111/1475-679X.12108
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    1. repec:eee:jaecon:v:64:y:2017:i:1:p:78-97 is not listed on IDEAS
    2. repec:eee:corfin:v:44:y:2017:i:c:p:331-352 is not listed on IDEAS
    3. repec:eee:pacfin:v:50:y:2018:i:c:p:144-162 is not listed on IDEAS
    4. repec:eee:jaecon:v:64:y:2017:i:2:p:340-345 is not listed on IDEAS
    5. repec:eee:accoun:v:52:y:2017:i:2:p:178-200 is not listed on IDEAS
    6. repec:spr:reaccs:v:22:y:2017:i:3:d:10.1007_s11142-017-9409-z is not listed on IDEAS
    7. Sutherland, Andrew, 2018. "Does credit reporting lead to a decline in relationship lending? Evidence from information sharing technology," Journal of Accounting and Economics, Elsevier, vol. 66(1), pages 123-141.
    8. repec:eee:corfin:v:49:y:2018:i:c:p:344-378 is not listed on IDEAS

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