This study examines the relation between conditional accounting conservatism and nonfinancial stakeholder orientation. Using the staggered passage of constituency statutes to identify increases in nonfinancial stakeholder orientation, we document that firms report more conservatively after statute adoption. Cross-sectional analyses indicate the increase in conditional conservatism after statute enactment is more pronounced for firms with higher agency costs between shareholders and managers, and less pronounced for firms with customers that have greater bargaining strength. Collectively, our study sheds light on how the increasing trend of nonfinancial stakeholder orientation plays a role in shaping financial reporting practices.

中文翻译：

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非金融利益相关者导向和条件会计保守主义

本研究考察了有条件的会计保守主义与非金融利益相关者导向之间的关系。使用选区法规的交错通过来确定非金融利益相关者导向的增加，我们记录了公司在法规通过后更保守地报告。横断面分析表明，在股东和经理之间的代理成本较高的公司中，法规颁布后有条件的保守主义的增加更为明显，而对于拥有更大议价能力的客户的公司而言，则不那么明显。总的来说，我们的研究揭示了非财务利益相关者导向的增长趋势如何在塑造财务报告实践中发挥作用。