Deferred Taxes and Bond Ratings: A Canadian Case

S. Chattopadhyay, F.J. Arcelus and G. Srinivasan

Journal of Business Finance & Accounting, 1997, vol. 24, issue 3, 541-557

Abstract: This paper explores the usefulness of the current Canadian Institute of Chartered Accountants standard on accounting for income taxes in bond rating decisions by credit analysts. Bond rating prediction models using accounting variables generated with alternate treatment of income taxes, have been developed. The analysis indicates that additional information presented by the above standard has not contributed significantly to the bond raters' decision making process.

Date: 1997
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