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OF THE EARNINGS MANAGEMENT LITERATURE AND ITS IMPLICATIONS FOR STANDARD SETTING
In this paper we review the academic evidence on earnings management and its implications for accounting standard setters and regulators. We structure our review around a rich set of questions likelyExpand
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The nature of information in commercial bank loan loss disclosures
SYNOPSIS AND INTRODUCTION: Commercial bank loan portfolios are typically 10 to 15 times larger than bank equity; therefore bank loan portfolio cash flows and default risks are likely to have anExpand
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BANK DIFFERENCES IN THE COORDINATION OF REGULATORY CAPITAL, EARNINGS, AND TAXES
This study investigates bank-specific regulatory capital-raising decisions. Such decisions are expected to be coordinated with financial reporting and/or tax incentives. We examine the impact ofExpand
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Risk-Relevance of Fair Value Income Measures for Commercial Banks
We investigate the risk relevance of the standard deviation of three performance measures: net income, comprehensive income, and a constructed measure of full‐fair‐value income for a sample of 202Expand
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Fair value accounting: Effects on banks' earnings volatility, regulatory capital, and value of contractual cash flows
Abstract We investigate fair value accounting critics' assertions by restating earnings and regulatory capital to reflect banks' disclosed investment securities fair values. We find: (1) FairExpand
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How Do Earnings Numbers Relate to Stock Returns? A Review of Classic Accounting Research with Updated Evidence
An extensive body of academic research in accounting develops theory and empirical evidence on the relation between earnings information and stock returns. This literature provides important insightsExpand
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Publicly traded versus privately held: implications for conditional conservatism in bank accounting
Compared with privately held banks, publicly traded banks face greater agency costs because of greater separation of ownership and control but enjoy greater benefits from access to the equity capitalExpand
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Residual Income Risk, Intrinsic Values, and Share Prices
Empirical accounting research provides surprisingly little evidence on whether accounting earnings numbers capture cross‐sectional differences in risk that are associated with cross‐sectionalExpand
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Accounting-Based Stock Price Anomalies: Separating Market Inefficiencies from Risk
We examine six accounting-based stock price anomalies using two sets of tests to determine the extent to which the anomalies (a) represent market mispricing, or (b) reflect premia for unidentifiedExpand
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Fair values, income measurement, and bank analysts' risk and valuation judgments
We examine how fair‐value‐income measurement affects commercial bank equity analysts' risk and value judgments. Normatively, holding information and other underlying economics constant, bankExpand
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