Bond covenants and changes in accounting policy: Canadian evidence*
利用加拿大财务数据，发现债券契约与公司是否变更会计政策有关，但政治成本假说除监管因素外不成立。
Abstract. This paper examines accounting change decisions in Canada. Evidence gathered from financial statements suggests that there is a relation between bond covenants and the decision to make an accounting policy change. Except for the effect of regulation, the political visibility hypothesis did not hold.