The Economics of Accounting for Property Leases
研究了企业选择拥有还是租赁建筑物的决策及其经济原因，发现需要高度专用化建筑的企业更倾向于拥有而非租赁，且此决策主要基于效率而非机会主义动机。
SYNOPSIS This paper explores firms' decisions to own or lease buildings, the economics underlying those decisions, and the accounting ramifications. We provide a theoretical argument and empirical evidence to suggest that firms that require highly specific buildings in their operations are more likely to own, rather than to lease, their buildings, and that this decision is primarily a function of efficiency concerns rather than opportunistic motives. Our findings raise the question of whether certain types of leases (i.e., property or real estate leases in particular) warrant the added complexity and costly compliance from standards overhaul.