Title
Financial distress costs and bankruptcy: Tax incentive theory,Used
Delivery time: 8-12 business days (International)
The implementation of Statement of Financial Accounting Standard (SFAS)133 had raised concerns about the potential impact the standard could have on firm hedging activities. Chief among these concerns has been an increase in earnings volatility and a reduction in the use of derivatives. Therefore, the purpose of this study was to investigate the effects of SFAS 133 on the use of derivatives, cash flow volatility, earnings volatility, and income smoothing oneyear before and after the implementation of the standard. Data from 20002001 for a sample of 305 nonfinancial, nonregulated Fortune 500 was used to determine if the implementation of SFAS 133 had any significant effect on firm hedging activities, volatility of earnings and cash flows, and income smoothing. Using dummy variables and interaction terms to proxy for SFAS 133, the differences in the coefficients after implementation of SFAS 133 are compared to the coefficients in the period before implementation for derivative users and a control group of nonusers and also within groups of derivative users. The results of this study showed no significant differences in earnings volatility, cash flow volatility.
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⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.
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Shipping & Returns
Shipping
We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
Returns
To facilitate a smooth return process, a Return Authorization (RA) Number is required for all returns. Returns without a valid RA number will be declined and may incur additional fees. You can request an RA number within 15 days of the original delivery date. For more details, please refer to our Return & Refund Policy page.
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Warranty
We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.
We accept payments with :
Visa, MasterCard, American Express, Paypal, Shopify Payments, Shop Pay and more.