The value relevance of fair value and historical cost measurements during the financial crisis

被引：9

作者：

Liao, Lin ^{[1
]}

Kang, Helen ^{[2
]}

Morris, Richard D. ^{[2
]}

机构：

[1] Southwestern Univ Finance & Econ, Res Inst Econ & Management, Chengdu, Peoples R China

[2] UNSW Sydney, UNSW Business Sch, Sch Accounting, Sydney, NSW, Australia

来源：

ACCOUNTING AND FINANCE | 2021年 / 61卷

关键词：

Relative value relevance; Incremental value relevance; Fair value; Historical cost; Financial crisis; MARK-TO-MARKET; ACCOUNTING RESEARCH; COMMERCIAL-BANKS; INVESTMENT SECURITIES; EARNINGS MANAGEMENT; VALUE DISCLOSURES; INFORMATION; RECOGNITION; GOVERNANCE; CONTRIBUTE;

D O I：

10.1111/acfi.12655

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The roles played by fair value (FV) and historical cost (HC) measurements during the financial crisis (2008-2009) remain controversial. We investigate the relative and incremental value relevance of assets and liabilities measured at FV and HC for financial institutions from 25 European countries before and during the financial crisis. We find that FV is morerelativelyvalue relevant than HC during the crisis but not before. HC and FV are, however,incrementallyvalue relevant to each other both before and during the financial crisis. Our results are influenced by cross-country differences.

引用

页码：2069 / 2107

页数：39

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