الفهرس 
Objectives and StructureOnly 14 pages are availabe for public view
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Abstract
The purpose of this study is to examine the impact of conservative accounting practices on the cost of debt in the Egyptian bond market and provide further insights on the effect of shareholders and bondholders conflict over dividend payout policy on the level of accounting conservatism. This paper follows the accruals basedmeasure of Givoly and Hayn (2000)to measure accounting conservatism. This study employs correlation coefficient, simple and multiple regressions using the available data for a sample of 105 views of the Egyptian companies listed on the stock exchange during the period from 2012 to 2016. The results suggest that (i) accounting conservatism reduces the cost of debt, and (ii)companies that face more severe bondholders-shareholders conflict over dividend payout policy adopt more conservatism.The findings of this study are not only important for current and potential investors but will also provide Egypt’s regulators and policymakers with comprehensive evidence that is expected to enhance the bond market because of its importance and positive impact on the Egyptian economy.