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Value Relevance Of Banks Fair Disclosures Under Sfas 107
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Book Synopsis Value-relevance of Banks' Fair Disclosures Under SFAS 107 by : Mary E. Barth
Download or read book Value-relevance of Banks' Fair Disclosures Under SFAS 107 written by Mary E. Barth and published by . This book was released on 1994 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the relation between fair value disclosures under Statement of Financial Accounting Standards No. 107 (SFAS 107) and bank share prices. As predicted, we find that fair values of securities and loans possess significant incremental explanatory power and are reflected positively in bank share prices. Contrary to predictions, fair values of deposits and off-balance sheet items provide no incremental explanatory power. We also find an interaction effect between the fair value of loans and nonperforming loans in specifications that permit cross-sectional differences in the loans' fair value coefficient. Finally, we find that core deposits are reflected positively in bank share prices.
Book Synopsis Value-Relevance of Banks' Fair Value Disclosures Under SFAS No. 107 by : Mary E. Barth
Download or read book Value-Relevance of Banks' Fair Value Disclosures Under SFAS No. 107 written by Mary E. Barth and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the relation between fair value disclosures under Statement of Financial Accounting Standards No. 107 (SFAS 107) and bank share prices. Our goal is to determine whether fair value disclosures explain cross-sectional variation in bank common share prices beyond that provided by the reported book value of common equity and other potentially informative disclosures in a way consistent with our predictions. As predicted, we find that fair values of securities and loans possess significant incremental explanatory power and are reflected positively in bank share prices. However, contrary to our predictions, the fair values of deposits, long-term debt, and off-balance sheet items provide no incremental explanatory power. One specification that includes a proxy for quot;core depositquot; intangibles -- a variables not covered by SFAS 107 -- indicates that core deposits are reflected positively in bank share prices.
Book Synopsis Value-relevance of Banks' Fair Value Disclosures Under SFAS 107 by : Mary E. Barth
Download or read book Value-relevance of Banks' Fair Value Disclosures Under SFAS 107 written by Mary E. Barth and published by . This book was released on 1995 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of SFAS 107 Fair Value Footnote Disclosures on Bank Valuation and Analysts' Earnings Forecasts by : Dawn Marie Hukai
Download or read book The Impact of SFAS 107 Fair Value Footnote Disclosures on Bank Valuation and Analysts' Earnings Forecasts written by Dawn Marie Hukai and published by . This book was released on 1998 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fair Value Disclosures by Bank Holding Companies by : Elizabeth A. Eccher
Download or read book Fair Value Disclosures by Bank Holding Companies written by Elizabeth A. Eccher and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the fair value data disclosed by bank holding companies under SFAS 107 and addresses some of the issues raised in the debate on the relevance of fair value accounting. The paper finds that most banks reported fair value estimates that exceeded their book values as of December 31 1992. Although the book value of securities and loans combined is similar in magnitude to deposits the effect of these two assets on the fair value of equity is five times greater than that of deposits. In addition to any real economic reasons that may apply the larger effect on the asset side of the balance sheet could be due to ignoring the core deposit intangible in valuing deposit obligations. In addition the paper provides evidence on the value-relevance of fair disclosures over and above the information already disclosed in banks' financial statements. The historical cost financial signals that represent profitability loan quality growth capital size etc. explain about 48% of the cross-sectional variation in the market-to-book ratio whereas the fair value disclosures add another 13% to the regression R- squared. With respect to off-balance sheet hedging behavior the excess of fair value of book value of on- balance sheet items is found to be significantly negatively associated with the unrealized gains/losses on off-balance sheet instruments only when the fair value of net loans are excluded. This suggests that it is difficult to make inferences about effect hedging based on fair value disclosures.
Book Synopsis The Information Content of Commercial Banks' Fair Value Disclosures of Loans Under SFAS 107 by : Seungmin Chee
Download or read book The Information Content of Commercial Banks' Fair Value Disclosures of Loans Under SFAS 107 written by Seungmin Chee and published by . This book was released on 2011 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation utilizes empirical methods to shed light on the current debate over whether to adopt fair value accounting for loans held for long term. Proponents of fair valuing loans argue that reporting loans at their fair values enhances the overall transparency of financial reporting. In contrast, opponents are against applying fair value accounting to loans because fair values cannot be measured reliably in the case of loans held for long term. Therefore, the key question here is whether loan fair values are sufficiently reliable to provide more relevant and transparent information compared to traditional measurements of loans. To explore this, I compare fair value disclosures of loans under Statement of Financial Accounting Standards No. 107 (SFAS 107), Disclosures about Fair Value of Financial Instruments, with traditional measurements of loans reported on balance sheets. More specifically, this study asks two research questions; (i) whether loan fair values provide more relevant information about future loan losses compared to traditional measurements of loans and (ii) whether banks intentionally manage their fair value estimates of loans when they are financially distressed. SFAS 107 mandates the disclosure of fair values for financial instruments with the objective of providing investors with more relevant information about firms' future cash flows. However, the results show that fair value measurements of loans explained variation in future loan losses, which capture cash flows from loans, less than traditional cost-based measurements of loans. In addition, I find evidence suggesting that financially distressed banks overstated the fair values of their loan portfolios and that fair values of loans in the aggregate lagged considerably behind the market values of loans during the recent credit crisis. Overall, my results suggest that fair value disclosures in bank loan portfolios contain relatively less information about future cash flows because they are measured unreliably and they suffer from a similar lack of timeliness as reported carrying values.
Book Synopsis Illustrations of Disclosures about Fair Value of Financial Instruments by : Leonard Lorensen
Download or read book Illustrations of Disclosures about Fair Value of Financial Instruments written by Leonard Lorensen and published by . This book was released on 1994 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Accounting discretion of banks during a financial crisis by : Mr.Luc Laeven
Download or read book Accounting discretion of banks during a financial crisis written by Mr.Luc Laeven and published by International Monetary Fund. This book was released on 2009-09-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper shows that banks use accounting discretion to overstate the value of distressed assets. Banks' balance sheets overvalue real estate-related assets compared to the market value of these assets, especially during the U.S. mortgage crisis. Share prices of banks with large exposure to mortgage-backed securities also react favorably to recent changes in accounting rules that relax fair-value accounting, and these banks provision less for bad loans. Furthermore, distressed banks use discretion in the classification of mortgage-backed securities to inflate their books. Our results indicate that banks' balance sheets offer a distorted view of the financial health of the banks.
Book Synopsis An Analysis of the Factors Impacting the Relevance of SFAS No. 107 Fair Value Disclosures by : Daniel R. Brickner
Download or read book An Analysis of the Factors Impacting the Relevance of SFAS No. 107 Fair Value Disclosures written by Daniel R. Brickner and published by . This book was released on 2002 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Modernizing the Financial System by : United States. Department of the Treasury
Download or read book Modernizing the Financial System written by United States. Department of the Treasury and published by . This book was released on 1991 with total page 780 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis SFAS 107 Disclosure about Fair Value of Financial Instruments by : David M. Morris
Download or read book SFAS 107 Disclosure about Fair Value of Financial Instruments written by David M. Morris and published by . This book was released on 1992 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Research, Standard Setting, and Global Financial Reporting by : Mary E. Barth
Download or read book Research, Standard Setting, and Global Financial Reporting written by Mary E. Barth and published by Now Publishers Inc. This book was released on 2007 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research, Standard Setting, and Global Financial Reporting aids researchers in conducting research relevant to global financial reporting issues, particularly those of interest to financial reporting standard setters. Research, Standard Setting, and Global Financial Reporting describes the relation between research and standard-setting issues; explains how a variety of research designs can be used to address questions motivated by standard-setting issues, including valuation research and event studies; offers examples of research addressing a specific global standard-setting issue - use of fair value in measuring accounting amounts; offers further opportunities for future research on specific standard-setting topics by providing motivating questions relating to the major topics on the agendas of the FASB and IASB; explains how the IASB aims to achieve its mission of developing a single set of high quality accounting standards that are accepted worldwide; summarizes extant evidence on the relative quality of accounting amounts across global standard-setting regimes and whether global financial reporting is achievable or even desirable. Research, Standard Setting, and Global Financial Reporting examines opportunities for future research on issues related to globalization of financial reporting by identifying motivating questions that are potentially avenues for future research.
Book Synopsis Bovernance and Bank Valuation by : Gerard Caprio
Download or read book Bovernance and Bank Valuation written by Gerard Caprio and published by World Bank Publications. This book was released on 2003 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Which public policies and ownership structures enhance the governance of banks? This paper constructs a new database on the ownership of banks internationally and then assesses the ramifications of ownership, shareholder protection laws, and supervisory/regulatory policies on bank valuations. Except in a few countries with very strong shareholder protection laws, banks are not widely held, but rather families or the State tend to control banks. We find that (i) larger cash flow rights by the controlling owner boosts valuations, (ii) stronger shareholder protection laws increase valuations, and (iii) greater cash flow rights mitigate the adverse effects of weak shareholder protection laws on bank valuations. These results are consistent with the views that expropriation of minority shareholders is important internationally, that laws can restrain this expropriation, and concentrated cash flow rights represent an important mechanism for governing banks. Finally, the evidence does not support the view that empowering official supervisory and regulatory agencies will increase the market valuation of banks"--NBER website
Book Synopsis The Impact of SFAS 107, Disclosure about Fair Value of Financial Instruments, on Financial Institutions by : Weng Cheong Pang
Download or read book The Impact of SFAS 107, Disclosure about Fair Value of Financial Instruments, on Financial Institutions written by Weng Cheong Pang and published by . This book was released on 1994 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Value and Capital Management by : Thomas C. Wilson
Download or read book Value and Capital Management written by Thomas C. Wilson and published by John Wiley & Sons. This book was released on 2015-08-31 with total page 724 pages. Available in PDF, EPUB and Kindle. Book excerpt: A value management framework designed specifically for banking and insurance The Value Management Handbook is a comprehensive, practical reference written specifically for bank and insurance valuation and value management. Spelling out how the finance and risk functions add value in their respective spheres, this book presents a framework for measuring – and more importantly, influencing – the value of the firm from the position of the CFO and CRO. Case studies illustrating value-enhancing initiatives are designed to help Heads of Strategy offer CEOs concrete ideas toward creating more value, and discussion of "hard" and "soft" skills put CFOs and CROs in a position to better influence strategy and operations. The challenge of financial services valuation is addressed in terms of the roles of risk and capital, and business-specific "value trees" demonstrate the source of successful value enhancement initiatives. While most value management resources fail to adequately address the unique role of risk and capital in banks, insurance, and asset management, this book fills the gap by providing concrete, business-specific information that connects management actions and value creation, helping readers to: Measure value accurately for more productive value-based management initiatives and evaluation of growth opportunities Apply a quantitative, risk-adjusted value management framework reconciled with the way financial services shares are valued by the market Develop a value set specific to the industry to inspire initiatives that increase the firm's value Study the quantitative and qualitative management frameworks that move CFOs and CROs from measurement to management The roles of CFO and CRO in financial firms have changed dramatically over the past decade, requiring business savvy and the ability to challenge the CEO. The Value Management Handbook provides the expert guidance that leads CFOs and CROs toward better information, better insight, and better decisions.
Book Synopsis The Routledge Companion to Fair Value and Financial Reporting by : Peter Walton
Download or read book The Routledge Companion to Fair Value and Financial Reporting written by Peter Walton and published by Routledge. This book was released on 2012-08-21 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprising contributions from a unique mixture of academics, standard setters and practitioners, and edited by an internationally recognized expert, this book, on a controversial and intensely debated topic, is the only definitive reference source available on the topics of fair value and financial reporting. Drawing chapters from a diverse range of contributors on different aspects of the subject together into one volume, it: examines the use of fair value in international financial reporting standards and the US standard SFAS 157 Fair Value Measurement, setting out the case for and against looks at fair value from a number of different theoretical perspectives, including possible future uses, alternative measurement paradigms and how it compares with other valuation models explores fair value accounting in practice, including audit, financial instruments, impairments, an investment banking perspective, approaches to fair value in Japan and the USA, and Enron’s use of fair value An outstanding resource, this volume is an indispensable reference that is deserving of a place on the bookshelves of both libraries and all those working in, studying, or researching the areas of international accounting, financial accounting and reporting.
Book Synopsis Fair Value Disclosures about Financial Instruments by : Ernst & Young
Download or read book Fair Value Disclosures about Financial Instruments written by Ernst & Young and published by . This book was released on 1992 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt:
