Macroeconomic consequences of accounting : the effect of accounting conservatism on macroeconomic indicators and the money supply

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dc.contributor.advisor Clement , Michael B .
dc.contributor.committeeMember Freeman , Robert
dc.contributor.committeeMember Bagnoli , Mark
dc.contributor.committeeMember Jennings , Ross
dc.contributor.committeeMember Kinney , William
dc.creator Crawley , Michael Joseph , 1979 -
dc.date.accessioned 2011 -02 -11T20 :58 :49Z
dc.date.accessioned 2011 -02 -11T20 :58 :58Z
dc.date.accessioned 2014 -02 -19T22 :54 :18Z
dc.date.available 2011 -02 -11T20 :58 :49Z
dc.date.available 2011 -02 -11T20 :58 :58Z
dc.date.available 2014 -02 -19T22 :54 :18Z
dc.date.created 2010 -12
dc.date.issued 2011 -02 -11
dc.date.submitted December 2010
dc.identifier.uri http : / /hdl .handle .net /2152 /ETD -UT -2010 -12 -2148
dc.description.abstract This study investigates the macroeconomic consequences of firm -level accounting conservatism . Consistent with conditional conservatism extending to the aggregate level , I demonstrate that annual estimates of aggregate corporate profits and gross domestic product from 1929 to 2007 compiled by the U .S . Bureau of Economic Analysis are more sensitive to negative aggregate cash flow news than to positive aggregate cash flow news . Next , I estimate the dollar value impact of firm -level accounting conservatism on measurements of macroeconomic fundamentals . Finally , I show that the federal funds rate set by the U .S . Federal Reserve tends to be lower when the dollar value impact of firm -level accounting conservatism on gross domestic product measurements is larger . These results suggest that accounting can impact social welfare by altering the measurement attributes of key macroeconomic indicators and shaping monetary policy decisions which regulate the money supply and alter macroeconomic growth .
dc.format.mimetype application /pdf
dc.language.iso eng
dc.subject Accounting conservatism
dc.subject Asymmetric timeliness
dc.subject Money supply
dc.title Macroeconomic consequences of accounting : the effect of accounting conservatism on macroeconomic indicators and the money supply
dc.description.department Accounting
dc.type.genre thesis *
dc.type.material text *
thesis.degree.name Doctor of Philosophy
thesis.degree.level Doctoral
thesis.degree.discipline Accounting
thesis.degree.grantor University of Texas at Austin
thesis.degree.department Accounting
dc.date.updated 2011 -02 -11T20 :58 :58Z

Citation

Macroeconomic consequences of accounting : the effect of accounting conservatism on macroeconomic indicators and the money supply. Doctoral dissertation, University of Texas at Austin. Available electronically from http : / /hdl .handle .net /2152 /ETD -UT -2010 -12 -2148 .

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