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Value Relevance Of Banks Fair Value Disclosures Under Sfas No 107
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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 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 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 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 Value-Relevance of Banks' Derivatives Disclosures by : Mohan Venkatachalam
Download or read book Value-Relevance of Banks' Derivatives Disclosures written by Mohan Venkatachalam and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the value-relevance of derivatives disclosures provided by banks under the Statement of Financial Accounting Standards No. 119 (SFAS 119). The findings suggest that the fair value estimates of derivatives help explain cross-sectional variation in bank share prices after controlling for fair values and book values of on-balance sheet assets and liabilities. Preliminary findings also suggest that fair value estimates of derivatives are useful in evaluating banks' hedging effectiveness. These results are in contrast to prior research that provide inconclusive evidence on the value-relevance of disclosed fair value estimates of off-balance sheet derivative instruments.
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 Value-Relevance of Fair Value Disclosures for Investments in Securities Accounted for Under the Equity Method by : Roger C. Graham
Download or read book Value-Relevance of Fair Value Disclosures for Investments in Securities Accounted for Under the Equity Method written by Roger C. Graham and published by . This book was released on 1998 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this study is to test the value-relevance of disclosed fair values of investments in publicly-traded equity securities accounted for under the equity method. We test for an association between alternative stock price metrics and fair value disclosures after controlling for recognized book values for a sample of non-financial firms during 1993-1997. The results indicate that stock prices are consistently positively associated with the difference between disclosed fair values and recognized book values. The results suggest that standard setters' concerns that there are unique valuation implications for investments in common stock that involve significant influence may not be warranted.
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:
Book Synopsis Elimination of Certain Disclosures about Financial Instruments by Small Nonpublic Entities by : Financial Accounting Standards Board
Download or read book Elimination of Certain Disclosures about Financial Instruments by Small Nonpublic Entities written by Financial Accounting Standards Board and published by . This book was released on 1996 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fair Value Measurements by : International Accounting Standards Board
Download or read book Fair Value Measurements written by International Accounting Standards Board and published by . This book was released on 2006 with total page 104 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 Report and Recommendations Pursuant to Section 133 of the Emergency Economic Stabilization Act Of 2008 by : Barry Leonard
Download or read book Report and Recommendations Pursuant to Section 133 of the Emergency Economic Stabilization Act Of 2008 written by Barry Leonard and published by DIANE Publishing. This book was released on 2010-11 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2008, the Emerg. Econ. Stabilization Act was signed into law. It mandates a study on mark-to-market accounting standards as provided by Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measure. (SFAS 157). SFAS 157 does not itself require mark-to-market or fair value (FV) accounting. Rather, other accounting standards require what is more broadly known as FV, of which mark-to-market accounting is a subset. SFAS 157 defines FV, estab. a framework for measuring FV in generally accepted accounting principles, and requires expanded disclosures about FV measurements. This report considered the issue of FV accounting, incl. both mark-to-market accounting and SFAS 157.
