Impact of Comprehensive Income Disclosure on Debt Holder Pricing in the Context of De-Realization
From the research perspective of the usefulness of accounting information for decision-making,this study examines the impact of comprehensive income disclosure on the debt holder pri-cing.Using the Chinese A-share listed companies from 2014 to 2020 as samples,this study empirically examines the relationship between other comprehensive income levels and debt financing costs in the context of de-realization.The empirical study finds that the proportion of other comprehensive income in total comprehensive income has a risk disclosure effect,which can alleviate information asymmetry in debt financing,leading to a significant positive correlation between the levels of other comprehen-sive income and the costs of debt financing.The financialization of enterprises can provide a reference for this pricing effect,with the positive correlation mainly occurring in non-financial enterprises with a higher degree of de-realization.The levels of other comprehensive income mainly increase the costs of debt financing by reducing accounting conservatism and increasing the risk premium demanded by debt holders.
other comprehensive incomede-realizationdebt holder pricingaccounting conser-vatism
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