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  • Determinants of discretionary fair value measurements: the case of Level 3 assets in the banking sector

    Author(s)
    Yao, Daifei
    Percy, Majella
    Stewart, Jenny
    Hu, Fang
    Griffith University Author(s)
    Percy, Majella
    Stewart, Jenny D.
    Hu, Fang
    Year published
    2018
    Metadata
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    Abstract
    The objective of our research was to respond to the call of Barth and Taylor (2010) for more research to examine the role of discretion in fair value estimates. Specifically, we investigate factors that explain banks’ accounting choices to use Level 3 valuation inputs from the fair value measurement hierarchy. Using hand-collected data from a sample of international banks during 2009–2013, we find that incentives to use discretionary Level 3 valuation inputs, which can provide an opportunity to manage earnings, are associated with both firm-level and country-level determinants. Additional tests provide evidence that Level 3 ...
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    The objective of our research was to respond to the call of Barth and Taylor (2010) for more research to examine the role of discretion in fair value estimates. Specifically, we investigate factors that explain banks’ accounting choices to use Level 3 valuation inputs from the fair value measurement hierarchy. Using hand-collected data from a sample of international banks during 2009–2013, we find that incentives to use discretionary Level 3 valuation inputs, which can provide an opportunity to manage earnings, are associated with both firm-level and country-level determinants. Additional tests provide evidence that Level 3 ‘transfer-in’ behaviour is related to changes in bank characteristics.
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    Journal Title
    Accounting and Finance
    DOI
    https://doi.org/10.1111/acfi.12225
    Note
    This publication has been entered into Griffith Research Online as an Advanced Online Version.
    Subject
    Accounting, Auditing and Accountability not elsewhere classified
    Applied Economics
    Accounting, Auditing and Accountability
    Banking, Finance and Investment
    Publication URI
    http://hdl.handle.net/10072/143087
    Collection
    • Journal articles

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