FAIR VALUE ACCOUNTING - EFFECTS ON BANKS EARNINGS VOLATILITY, REGULATORY CAPITAL, AND VALUE OF CONTRACTUAL CASH FLOWS

被引：140

作者：

BARTH, ME ^{[1
]}

LANDSMAN, WR ^{[1
]}

WAHLEN, JM ^{[1
]}

机构：

[1] UNIV N CAROLINA,KENAN FLAGLER BUSINESS SCH,CHAPEL HILL,NC 27599

来源：

JOURNAL OF BANKING & FINANCE | 1995年 / 19卷 / 3-4期

关键词：

BANKS; INVESTMENT SECURITIES; FAIR VALUE ACCOUNTING; REGULATORY CAPITAL; EARNINGS; CASH FLOWS;

D O I：

10.1016/0378-4266(94)00141-O

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We investigate fair value accounting critics' assertions by restating earnings and regulatory capital to reflect banks' disclosed investment securities fair values. We find: (1) Fair value-based earnings are more volatile than historical cost earnings, but share prices do not reflect the incremental volatility. (2) Banks violate regulatory capital requirements more frequently under under fair value than historical cost accounting. Fair value-based violations help predict regulatory capital violations, but share prices do not reflect this potential increased regulatory risk. Only historical cost violations are market information events. (3) Share prices reflect interest rates changes, even though investment securities' contractual cash flows are fixed.

引用

页码：577 / 605

页数：29

共 29 条

[1]

*AM I CERT PUBL AC, 1990, REP FIN I DEBT SEC H

[2]

Barth M.E., 1990, FINANCIAL ANAL J, V46, P53

[3]

BARTH ME, 1994, ACCOUNT REV, V69, P1

[4] THE MARKET VALUATION IMPLICATIONS OF NET PERIODIC PENSION COST COMPONENTS [J].

BARTH, ME ;

BEAVER, WH ;

LANDSMAN, WR .

JOURNAL OF ACCOUNTING & ECONOMICS, 1992, 15 (01) :27-62

[5]

BARTH ME, 1994, EFFECTS CROSS SECTIO

[6]

BARTH ME, 1994, VALUE RELEVANCE BANK

[7]

BEATTY A, 1993, MANAGING FINANCIAL R

[8]

Beaver W., 1980, J ACCOUNT ECON, V2, P3, DOI 10.1016/0165-4101(80)90013-0

[9]

BEAVER WH, 1983, INCREMENTAL INFORMAT, P33

[10]

BEAVER WH, 1992, REFORM FEDERAL DEPOS, P259

← 1 2 3 →