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The crisis of fair value accounting: Making sense of the recent debate
Laux, Christian; Leuz, Christian - Center for Financial Studies - 2009
The recent financial crisis has led to a vigorous debate about the pros and cons of fair-value accounting (FVA). This debate presents a major challenge for FVA going forward and standard setters' push to extend FVA into other areas. In this article, we highlight four important issues as an...
Persistent link: https://www.econbiz.de/10010958757
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The Effect of Fair vs. Book Value Accounting on the Behavior of Banks
Strausz, Roland; Burkhardt, Katrin
asymmetric information, it shows that fair value accounting increases liquidity. Consequently, it intensifies risk shifting and …
Persistent link: https://www.econbiz.de/10005626249
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The Value of Accounting
Peek, Peek, E. - Erasmus Research Institute of Management (ERIM), … - 2011
Fair value estimates of debt and equity securities play an increasingly important role in the economy. For example, International Financial Reporting Standards require companies to report many of their investments at fair value on the balance sheet or to use fair values in goodwill impairment...
Persistent link: https://www.econbiz.de/10011149186
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Firms as liquidity providers: Evidence from the 2007–2008 financial crisis
Garcia-Appendini, Emilia; Montoriol-Garriga, Judit - In: Journal of Financial Economics 109 (2013) 1, pp. 272-291
Using a supplier–client matched sample, we study the effect of the 2007–2008 financial crisis on between-firm liquidity … provision. Consistent with a causal effect of a negative shock to bank credit, we find that firms with high precrisis liquidity … consistent with firms providing liquidity insurance to their clients when bank credit is scarce and offer an important …
Persistent link: https://www.econbiz.de/10010665557
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What drives firm growth? Evidence from the Greek industry
Makris, Ilias A. - In: International Journal of Economics and Business Research 7 (2014) 1, pp. 17-27
interpret firm performance. Findings indicate financial 'health' (leverage and liquidity) as a critical interpreter of sales …
Persistent link: https://www.econbiz.de/10010732428
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Does Firm Size Affect the Firm Profitability? Empirical Evidence from Romania
VINTILA, Georgeta; DUCA, Florinita - In: Romanian Statistical Review Supplement 61 (2013) 4, pp. 87-92
, while liquidity didn’t prove to be an important explanatory variable of firms’ profitability. …
Persistent link: https://www.econbiz.de/10010859949
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The Net Stable Funding Ratio: Impact and Issues for Consideration
Gobat, Jeanne; Yanase, Mamoru; Maloney, Joseph - International Monetary Fund (IMF) - 2014
As part of Basel III reforms, the NSFR is a new prudential liquidity rule aimed at limiting excess maturity …
Persistent link: https://www.econbiz.de/10011142026
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Bank Risk Within and Across Equilibria
Agur, Itai - International Monetary Fund (IMF) - 2014
The global financial crisis highlighted that the financial system can be most vulnerable when it seems most stable. This paper models non-linear dynamics in banking. Small shocks can lead from an equilibrium with few bank defaults straight to a full freeze. The mechanism is based on...
Persistent link: https://www.econbiz.de/10010800971
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Liquidity and dirty hedging in the Nordic electricity market
Frestad, Dennis - In: Energy Economics 34 (2012) 5, pp. 1341-1355
. This study finds systematic variations in liquidity in different segments of the Nordic electricity swap market and … analyzes the potential for replacing low-liquidity, delivery-period-matched hedging instruments with more liquid, delivery …
Persistent link: https://www.econbiz.de/10010593879
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Unconditional IMF Financial Support and Investor Moral Hazard
Kim, Jun Il - International Monetary Fund (IMF) - 2007
and long term; market (coordination) failure triggers a liquidity run and inefficient default; and the IMF lends … unconditionally under a preferred creditor status. The model shows that IMF financial support can help prevent a liquidity crisis …
Persistent link: https://www.econbiz.de/10005769261