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主 题：Credit Risk and Off-balance- sheet Contractual Obligations: Disclosures under Rule FR-67
主讲人：Oakland University商学院会计与金融系赵莎助理教授
主持人：西南财经大学会计学院副院长 唐雪松教授
时 间：2015年5月21日上午10：00-11：30
地 点：通博楼D207
主 办：西南财经大学会计学院、科研处
主讲人简介：
赵莎，美国纽约城市大学巴鲁克学院会计学博士，西南财经大学会计学博士，美国Oakland University商学院会计与金融系助理教授．
研究方向：财务会计信息披露，债务成本与信用风险，公司兼并与收购，高管薪酬，审计。相关成果发表于：《中国会计评论》，《审计研究》等。
论文摘要：
Credit Risk and Off-balance-sheet Contractual Obligations: Disclosures under Rule FR-67
To increase transparency in financial reporting and to promote a better understanding of companies’ offbalance sheet obligations, the Securities and Exchange Commission issued Final Rule No. 67 (FR-67) to mandate a tabular disclosure of all known on- and off-balance sheet contractual obligations in a single location within the Management’s Discussion and Analysis (MD&A) from 2003. Using a sample of S&P 1500 companies, I examine whether the disclosures under Rule FR67 influence the assessment of credit risk by credit rating agencies, public bond holders, and private loan lenders. I find that credit risk increases with off-balance sheet obligations when firms report the tabular disclosures for the first time. My results also suggest that purchase obligations have incremental explanatory power in addition to operating leases and other off-balance sheet obligations in explaining credit risk. The tabular disclosure under Rule FR-67 is more effective and efficient in conveying information than textual footnote disclosure.