财务会计理论(司可脱)PPT文件Principal-Agent Theory PAT (for students).pptVIP

Positive Accounting Theory (PAT) Agency Theory Ch. 8 9 – Scott, Accounting Theory Recall From Efficient Securities Market Theory Beaver (1973) argued that accounting policy choices do not affect firms’ security prices, if no cash flow effects and if chosen policies are fully disclosed This argument implies that accounting policies do not matter Positive accounting theory Economic Consequences What does this term mean? “The impact of accounting reports on the decision-making behavior of business, government, and creditors.” Best way to understand the concept is through examples Economic Cons