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Accounting for financial instruments in the banking industry : conclusions from a simulation model
Gebhardt, Günther; Reichardt, Rolf; Wittenbrink, Carsten - 2003 - Revised: November 2003
The paper analyses the effects of three sets of accounting rules for financial instruments - Old IAS before IAS 39 became effective, Current IAS or US GAAP, and the Full Fair Value (FFV) model proposed by the Joint Working Group (JWG) - on the financial statements of banks. We develop a...
Persistent link: https://www.econbiz.de/10009765358
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Fair Value Accounting, Fragile Bank Balance Sheets and Crisis : A Model
de Jager, Phillip - 2014
A topic of recent interest in accounting research has been the investigation of the role of fair value accounting (FVA) in the global financial crisis. This research focused on finding a link during the crisis time-period and often states that “accounting is only a messenger”. The model...
Persistent link: https://www.econbiz.de/10013060108
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Bringing Leased Assets onto the Balance Sheet
Cornaggia, Kimberly Rodgers - 2014
Pending changes in lease accounting standards will require firms to recognize obligations that have historically been kept off-balance-sheet (OBS). We examine the implications of this accounting treatment for a host of common risk and performance metrics. Conventional leverage, Z-Score, levered...
Persistent link: https://www.econbiz.de/10013069249
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Book-Tax Conformity and Capital Structure
Blaylock, Bradley S. - 2016
decrease in the informativeness of accounting earnings for equity markets resulting from higher book-tax conformity. We argue … that the decrease in earnings informativeness impacts equity holders more than debt holders because of the differences in … payoff structures between debt and equity investments such that increases in book-tax conformity lead to increases in firms …
Persistent link: https://www.econbiz.de/10013006451
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Balance Sheet Smoothing
Witter, Tobias; Sellhorn, Thorsten; Mueller, Jens; … - 2022
We investigate how managers smooth volatility in balance sheets, using the pension accounting change IAS 19R as a shock to balance sheet volatility. This shock increases pension plans’ funding transparency, which is the source of volatility, without targeting actual plan funding. We find that...
Persistent link: https://www.econbiz.de/10014235682
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Accounting for stock-based compensation : an extended clean surplus relation
Hess, Dieter - 2001
Residual income valuation is based on the assumption that the clean surplus relation holds. As pointed out by Ohlson (2000), among others, the standard clean surplus relation is frequently violated. Moreover, standard residual income valuation models rest on the implicit assumption that future...
Persistent link: https://www.econbiz.de/10013428422
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Accounting for stock-based compensation : an extended clean surplus relation
Hess, Dieter; Lüders, Erik - 2001
Residual income valuation is based on the assumption that the clean surplus relation holds. As pointed out by Ohlson (2000), among others, the standard clean surplus relation is frequently violated. Moreover, standard residual income valuation models rest on the implicit assumption that future...
Persistent link: https://www.econbiz.de/10011446678
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Conservatism and Aggregation : The Effect on Cost of Equity Capital and the Efficiency of Debt Contracts
Beyer, Anne - 2012
This paper studies the joint effect of conservatism and aggregation on the cost of equity capital and the efficiency of … debt contracts. In the model, a firm's two assets are valued at either the lower-of-cost-or-market or fair value and the … accounting report aggregates the value of the two assets. While the process of aggregation leads inevitably to a loss of …
Persistent link: https://www.econbiz.de/10013108645
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The Term Structure of Implied Costs of Equity Capital
Callen, Jeffrey L. - 2019
We model and estimate the term structure of implied costs of equity capital (and implied risk premia) at the firm level … structure of implied firm-level costs of equity is constant over different time horizons. Instead, we find that the term …
Persistent link: https://www.econbiz.de/10012905974
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The Term Structure of Implied Costs of Equity Capital
Callen, Jeffrey L. - 2018
We model and estimate the term structure of implied costs of equity capital (and implied risk premia) at the firm level … structure of implied firm-level costs of equity is constant over different time horizons. Instead, we find that the term …
Persistent link: https://www.econbiz.de/10012909319