We provide evidence concerning the use of historical cost (HCA) versus mark-to-market (MTM) accounting in regulating … financial institutions. Accounting rules, through their interactions with capital regulations, alter financial institutions …' trading behavior. The insurance industry provides a laboratory to explore these interactions: life insurers have greater …

We provide evidence concerning the use of historical cost (HCA) versus mark-to-market (MTM) accounting in regulating … financial institutions. Accounting rules, through their interactions with capital regulations, alter financial institutions …' trading behavior. The insurance industry provides a laboratory to explore these interactions: life insurers have greater …

We outline the basic principles underlying accounting standards aimed at marking-to-market of insurers' balance sheets …. Some issues specific to insurance liabilities are examined …

informational roles of FCF payout in a perfect capital market and apply this framework to the well-known accounting valuation models … relevance. We conclude that, while research on accounting valuation models based on the assumption of payout valuation …

This technical note outlines the differences between financial accounting standards and tax law that affect the … valuation of potential targets depending on the deal structure employed. Valuation models typically rely on financial accounting … information to estimate the value of the deal; but tax laws, not financial accounting standards, affect the after-tax cash flows …