題目：Lenders’ Experience with Major Customers and Borrowers’ Accounting Conservatism
主講人：Luo Shuqing 副教授 （National University of Singapore）
時 間：2016年12月20（周二）下午14：00-15：30
地 點：主樓 418會議室
主講人簡介：
Luo Shuqing graduated from Katz Graduate School of Business, University of Pittsburgh and got her Ph.D. degree. She have published many papers in top journals, such as The Accounting Review, Strategic Management Journal, Academy of Management Journal, Auditing-A Journal of Practice & Theory, Journal of Accounting and Economics.
內容簡介：
We examine the relationship between lenders’ pre-existing lending experience with borrowers’ major customers (labeled as “supply-chain lenders”) and lenders’ demand for borrowers’ accounting conservatism. We hypothesize that supply-chain lenders’ access to private information potentially facilitates more timely and precise evaluation of borrowers’ creditworthiness; this potentially reduces supply-chain lenders’ reliance on accounting conservatism in debt contracting. Consistently, we find that suppliers borrowing from supply-chain lenders have less conservative reporting than suppliers borrowing from non-supply-chain lenders at loan origination. This finding appears to be driven by supply-chain lenders’ superior knowledge regarding customers’ future operations and financial risk, and is stronger when supply-chain lenders enjoy greater information advantage over non-supply-chain lenders. In lending agreements, supply-chain lenders accept fewer accounting-based contractual terms, lower spreads, and longer maturity than non-supply-chain lenders. Overall, our evidence suggests that borrowers’ major customers represent an important information channel that enables lenders to more effectively screen and monitor borrowers.
（承辦：會計系，科研與學術交流中心）
