Proceedings of The 7th International Conference on Applied Research in Management, Economics and Accounting
The Association between State Reporting Requirements and Municipal Bond Interest Costs
Yunshil Cha,Linda Ragland, Catherine Plante
For information to be relevant it must be timely information is one of the important principles of accounting. In the large U.S. municipal bond market, timely information is always an issue. The state of Illinois mandated that municipalities in the state must provide financial information to a central repository where the information is made available to the public. The purpose of this study is to see if requiring information provides useful information to the municipal bond market.
keywords: municipal bond market, timeliness of information, financial reporting