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Discussion of “Financial statement comparability and credit risk”

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  • Navneet Arora

    (Citadel LLC)

Abstract

Comparability of financial statements has been a subject that is often referred to by academics and practitioners alike. In recent years, researchers have attempted to develop a quantifiable framework to study the benefits of comparability from the perspective of equity markets. Kim et al. (2013) approach this issue from the perspective of credit markets. This discussion of their paper has three objectives. First, it critiques their proxy for comparability and offers suggestions on how to validate their assumptions. Second, it recommends improvements to their research design, keeping in mind nuances of credit as an asset class. Finally, to help the authors with their future research, it offers proxies for comparability and information asymmetry that can be developed through some new datasets that have become available to researchers.

Suggested Citation

  • Navneet Arora, 2013. "Discussion of “Financial statement comparability and credit risk”," Review of Accounting Studies, Springer, vol. 18(3), pages 824-832, September.
    • Handle: RePEc:spr:reaccs:v:18:y:2013:i:3:d:10.1007_s11142-013-9239-6
    DOI: 10.1007/s11142-013-9239-6
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    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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