This article examines the association between state regulation of accounting practices and municipal borrowing costs. The results demonstrate that stringent accounting regulations do have an effect on borrowing costs after abstracting the effect of other explanatory variables. The direction of...

Available evidence suggests that state and local government pension plans may be substantially underfunded. The capitalization of these unfunded obligations in borrowing costs is an important public policy issue, since noncapitalization may lead to the misallocation of credit and stimulate the...

In this paper, we examine the importance of the Bureau of Census' pension information for both municipal (city) and state borrowing costs in the new issue (primary) market using a variable (computed from the Bureau of Census data) which has been found to be correlated with the amount of unfunded...

Purpose – The purpose of this paper is to describe a study which examined the effects of underwriter reputation market segments on the value relevance of firm specific risk measures in the pricing of initial public offerings (IPOs). Design/methodology/approach – The study abandons the notion...