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Type: Journal article
Title: Corporate responses to the introduction of the Australian consolidation standard: a test of disclosure cost explanations
Author: Canil, J.
Rosser, B.
Citation: Journal of the Academy of Business and Economics, 2003; 1(2):146-154
Publisher: International Academy of Business and Economics
Issue Date: 2003
ISSN: 1542-8710
Abstract: AASB 1024 was introduced to mandate consolidation of controlled associates, and hence disclosure of debt issued by these associates. Firms with debt-laden controlled associates faced significant disclosure costs, so therefore had an incentive to avoid consolidation. Disclosure cost arguments are used to generate hypotheses in relation to pre- and post-adoption investment structures. Corporate sell-offs and straight non-disclosure of controlled associates are found to have been significant mechanisms for reducing the impact of the disclosure provisions of AASB 1024.
Rights: Copyright 2003 Gale, Cengage Learning. All rights reserved.
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