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The Effects of the Fair Value Option under IAS 39 on the Volatility of Bank Earnings
ABSTRACT: Using an international sample of 222 banks from 41 countries, this study examines whether the fair value option (FVO) affects earnings volatility. Prior empirical studies associate higher...
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Big Bath Accounting using Fair Value Measurement Discretion during the Financial Crisis
The measurement of fair values, in particular the valuation of Level 3 positions, is complex and figures are difficult to verify. Due to the financial crisis, markets for certain financialExpand
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Reclassification of Financial Assets under IAS 39: Impact on European Banks' Financial Statements
In response to the financial crisis, the IASB issued on 13 October 2008 an amendment to IAS 39 which enables entities to reclassify non-derivative financial assets held for trading and financialExpand
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Real Effects in Anticipation of Mandatory Disclosures: Evidence from the European Union’s CSR Directive
In 2014, the European Union (EU) passed a corporate social responsibility (CSR) directive that mandates large listed firms to prepare non-financial reports beginning from fiscal year 2017 onward. WeExpand
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The Effects of Compensation and Board Quality on Non-GAAP Disclosures in Europe
Reported performance measures that do not follow Generally Accepted Accounting Principles (GAAP) are labeled as “non-GAAP” figures. Non-GAAP reporting is subject to intense debate. On the one hand,Expand
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The impact of the institutional environment on the value relevance of fair values
Most prior studies attribute valuation discounts on certain fair valued assets to measurement error or bias. We argue that institutional differences across countries (e.g., information environment orExpand
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Discretionary Measurement of Level 3 Fair Values During the 2008 Financial Crisis
In the absence of quoted prices in active markets, the measurement of fair values is complex and difficult to verify. Prior literature finds that investors discount fair value estimates based onExpand
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Segmentberichterstattung nach IFRS 8: Analyse der Auswirkungen des Managementansatzes auf die Anwendung und die Qualität der Segmentberichterstattung in der Schweiz
Seit dem 1. Januar 2009 wird die Segmentberichterstattung in Ubereinstimmung mit IFRS 8 erstellt. Dabei orientieren sich die ausgewiesenen Segmente und Bewertungsgrundlagen an der internenExpand
Bold Analysts or Bold Banks: Do Institutional Factors Drive Herding Behavior?
This paper examines the influence of institutional factors on the herding behavior of security analysts. Exploiting a unique dataset on the ownership of brokerage houses, we find that analysts fromExpand
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