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The crisis of fair value accounting: Making sense of the recent debate
Laux, Christian; Leuz, Christian - 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/10010303740
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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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A Q-theory of banks
Beganau, Juliane; Bigio, Saki; Majerovitz, Jeremy; … - 2021 - Last updated: September 24, 2021
We document five facts about banks: (1) market and book leverage diverged during the 2008 crisis, (2) Tobin's Q predicts future profitability, (3) neither book nor market leverage appears constrained, (4) banks maintain a market-leverage target that is reached slowly, and (5) precrisis, leverage...
Persistent link: https://www.econbiz.de/10012627919
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Did life insurers benefit from TARP or regulatory forbearance during the financial crisis of 2008-2009?
Barnes, Michelle L. - 2016 - This version: October 25, 2016
Life insurers' odds of being placed under regulatory control (for example, conservatorship or receivership) during the financial crisis years of 2008 and 2009 increased with deteriorating fundamentals at a much higher rate than during normal times or during the previous recession. However, no...
Persistent link: https://www.econbiz.de/10011602485
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The real costs of industry contagion
Garcia-Appendini, Emilia - 2014 - This draft: June 2014
This paper analyzes whether the financial distress of a firm affects the investment decisions of non-distressed competitors. On average, firms in distress impose indirect costs to non-distressed competitors by increasing costs of credit in the industry and hence restricting credit access and...
Persistent link: https://www.econbiz.de/10010410806
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Long-term risk class migrations of non-bankrupt and bankrupt enterprises
Korol, Tomasz - In: Journal of business economics and management 21 (2020) 3, pp. 783-804
This paper investigates how the process of going bankrupt can be recognized much earlier by enterprises than by traditional forecasting models. The presented studies focus on the assessment of credit risk classes and on determination of the differences in risk class migrations between...
Persistent link: https://www.econbiz.de/10012270447
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Can asset reconstruction companies (ARCs) be part solution to the Indian debt problem?
Bhagwati, Jaimini; Khan, M. Shuheb; Bogathi, … - 2017
The Indian debt overhang issue is one of the major reasons that fresh investments are currently not being made in the scale required to promote higher growth and boost employment. Among banks the public sector banks (PSBs) are burdened with the bulk of net non-performing loans (NNPAs). These...
Persistent link: https://www.econbiz.de/10011638458
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Home country versus cross-border negative externalities in barge banking organization failures and how to avoid them
Eisenbeis, Robert A. (contributor) - 2006
are more associated with the structure of the applicable bankruptcy laws and methods available to resolve a failed … directed first at closing institutions promptly, reforming bankruptcy statutes to admit special procedures for handling bank … credit. -- Cross-border banking ; financial crises ; bankruptcy ; branching ; banking subsidiaries ; supervision and …
Persistent link: https://www.econbiz.de/10003730539
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In the wake of the crisis : dealing with distressed debt across the transition region
Haas, Ralph de; Knobloch, Stephan - 2010
This article reviews the origin and spread of the distressed debt problem in the transition region. We argue that while the crisis was triggered abroad, the current high level of distressed debt in various transition countries mainly reflects home-grown vulnerabilities. As in the West, the root...
Persistent link: https://www.econbiz.de/10003928000
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Debt recovery in firm liquidations : do liquidation trustees matter?
Cepec, Jaka; Grajzl, Peter; Zajc, Katarina - 2016
Insolvency systems play a crucial role in protection of creditor rights, yet micro-level empirical evidence on the functioning of insolvency regimes worldwide is sparse. We investigate whether creditors' recovery of outstanding claims, a measure of ex-post efficiency of an insolvency regime,...
Persistent link: https://www.econbiz.de/10011518156