{"title":"Fair value complexity and financial statement comparability","authors":"Hyejin Ahn","doi":"10.1080/16081625.2021.1947861","DOIUrl":null,"url":null,"abstract":"ABSTRACT This study examines whether fair value accounting and its complexity influence financial statement comparability. Using quarterly US bank holding company data from 2008 to 2014, I find that the proportion of assets and liabilities that are fair valued is negatively associated with financial statement comparability and that this negative relation appears to be driven by the less v erifiable (lower-level) fair value estimates. Under the three-level hierarchy of SFAS 157, the financial statements of a bank become less comparable with those of other banks as the complexity of its fair value estimates increases. Overall, these results indicate that fair value complexity has a negative influence on comparability.","PeriodicalId":45890,"journal":{"name":"Asia-Pacific Journal of Accounting & Economics","volume":"6 1","pages":"1247 - 1266"},"PeriodicalIF":1.4000,"publicationDate":"2021-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Asia-Pacific Journal of Accounting & Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1080/16081625.2021.1947861","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 1
Abstract
ABSTRACT This study examines whether fair value accounting and its complexity influence financial statement comparability. Using quarterly US bank holding company data from 2008 to 2014, I find that the proportion of assets and liabilities that are fair valued is negatively associated with financial statement comparability and that this negative relation appears to be driven by the less v erifiable (lower-level) fair value estimates. Under the three-level hierarchy of SFAS 157, the financial statements of a bank become less comparable with those of other banks as the complexity of its fair value estimates increases. Overall, these results indicate that fair value complexity has a negative influence on comparability.
期刊介绍：
The Asia-Pacific Journal of Accounting & Economics (APJAE) is an international forum intended for theoretical and empirical research in all areas of economics and accounting in general. In particular, the journal encourages submissions in the following areas: Auditing, financial reporting, earnings management, financial analysts, the role of accounting information, international trade and finance, industrial organization, strategic behavior, market structure, financial contracts, corporate governance, capital markets, and financial institutions. The journal welcomes contributions related to the Asia Pacific region, and targets top quality research from scholars with diverse regional interests. The editors encourage submission of high quality manuscripts with innovative ideas. The editorial team is committed to an expedient review process.
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