أثر جودة الأرباح المحاسبية على تكلفة الاقتراض طبقًا لمعايير الإبلاغ المالي الدولية : دراسة تطبيقية على الشركات المساهمة العامة الصناعية و الخدمية المدرجة في بورصة عمان

Abstract EN

The study is an extetion of (Abu Ali, Al-Debi'e and Abu Nassar, 2011) study, aiming at examining the effect of earnings quality on the cost of borrowing using qualitative characteristics of accounting information specified in the International Financial Reporting Standards (IFRS).

We used the same sample and period used in (Abu Ali, Al-Debi'e and Abu Nassar, 2011) study.

The sample consists of (78) companies listed at Amman Stock Exchange, of which (51) belong to the industrial sector and (27) belong to the service sector during the period (1993-2007).

The current study differs from (Abu Ali, Al-Debi'e and Abu Nassar, 2011) in that it examines the effect of earnings attributes on cost of borrowing instead of cost of capital.

Furtheremore, the current study differentiates between the discretionary and non-discretionary part of the earnings attributes when examining their effect on the cost of borrowing.

The results of the study showed that, in general, earnings quality affects the cost of borrowing.

Earnings attributes have individually an effect on the cost of borrowing except for smoothness.

The effect of earnings reliability dimension is higher than the effect of earnings relevance dimension on the cost of borrowing.

The effect of earnings conservatism is very low on the cost of borrowing.

The effect of the accounting-based earnings attributes is higher than the effect of market-based earnings attributes on the cost of borrowing.

The discretionary part of earnings attributes has individually an effect on the cost of borrowing except for timeliness which becomes not significant after controlling for the earnings attributes innate factors.