The Effect of the Disclosures about Level 3 Fair Values on Cost of Debt Capital
碩士 === 輔仁大學 === 會計學系碩士班 === 107 === The purpose of this study is to examine the effect of the disclosures about Level 3 fair values on cost of debt capital. Using the yield spread between government bonds and corporate bonds is used to measure the debt capital cost. The disclosures of valuation tech...
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ndltd-TW-107FJU003850032019-08-23T03:45:54Z http://ndltd.ncl.edu.tw/handle/7jt9e9 The Effect of the Disclosures about Level 3 Fair Values on Cost of Debt Capital 第三等級公允價值資訊揭露品質對債務資金成本之影響 HSU, XING-FANG 許馨方 碩士 輔仁大學 會計學系碩士班 107 The purpose of this study is to examine the effect of the disclosures about Level 3 fair values on cost of debt capital. Using the yield spread between government bonds and corporate bonds is used to measure the debt capital cost. The disclosures of valuation techniques, quantitative information about the significant unobservable inputs, and the sensitivity analysis of the changes in unobservable inputs of Level 3 fair values are used to measure the disclosure quality of Level 3 fair values. The empirical results show that the disclosures about the quantitative information of unobservable inputs and the sensitivity analysis of the changes in unobservable inputs significantly reduce the cost of debt capital. Moreover, the cost of debt capital of the firms which disclose the three items simultaneously is significantly lower than that of other firms, suggesting that the completeness of the disclosures about Level 3 fair values helps to decrease the cost of debt capital. LIN, YAN-TING 林彥廷 2019 學位論文 ; thesis 36 zh-TW |
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碩士 === 輔仁大學 === 會計學系碩士班 === 107 === The purpose of this study is to examine the effect of the disclosures about Level 3 fair values on cost of debt capital. Using the yield spread between government bonds and corporate bonds is used to measure the debt capital cost. The disclosures of valuation techniques, quantitative information about the significant unobservable inputs, and the sensitivity analysis of the changes in unobservable inputs of Level 3 fair values are used to measure the disclosure quality of Level 3 fair values. The empirical results show that the disclosures about the quantitative information of unobservable inputs and the sensitivity analysis of the changes in unobservable inputs significantly reduce the cost of debt capital. Moreover, the cost of debt capital of the firms which disclose the three items simultaneously is significantly lower than that of other firms, suggesting that the completeness of the disclosures about Level 3 fair values helps to decrease the cost of debt capital.
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author2 |
LIN, YAN-TING |
author_facet |
LIN, YAN-TING HSU, XING-FANG 許馨方 |
author |
HSU, XING-FANG 許馨方 |
spellingShingle |
HSU, XING-FANG 許馨方 The Effect of the Disclosures about Level 3 Fair Values on Cost of Debt Capital |
author_sort |
HSU, XING-FANG |
title |
The Effect of the Disclosures about Level 3 Fair Values on Cost of Debt Capital |
title_short |
The Effect of the Disclosures about Level 3 Fair Values on Cost of Debt Capital |
title_full |
The Effect of the Disclosures about Level 3 Fair Values on Cost of Debt Capital |
title_fullStr |
The Effect of the Disclosures about Level 3 Fair Values on Cost of Debt Capital |
title_full_unstemmed |
The Effect of the Disclosures about Level 3 Fair Values on Cost of Debt Capital |
title_sort |
effect of the disclosures about level 3 fair values on cost of debt capital |
publishDate |
2019 |
url |
http://ndltd.ncl.edu.tw/handle/7jt9e9 |
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