메뉴 건너뛰기




Volumn 83, Issue 3, 2008, Pages 629-664

Fair value accounting for liabilities and own credit risk

Author keywords

Credit risk; Debt; Fair value accounting; Income recognition

Indexed keywords


EID: 46049096339     PISSN: 00014826     EISSN: None     Source Type: Journal    
DOI: 10.2308/accr.2008.83.3.629     Document Type: Article
Times cited : (102)

References (60)
  • 2
    • 0000920426 scopus 로고
    • Fair value accounting: Effects on banks' earnings volatility, regulatory capital, and value of contractual cash flows
    • Barth, M. E., W. R. Landsman, and J. M. Wahlen. 1995. Fair value accounting: Effects on banks' earnings volatility, regulatory capital, and value of contractual cash flows. Journal of Banking & Finance (19): 577-650.
    • (1995) Journal of Banking & Finance , vol.19 , pp. 577-650
    • Barth, M.E.1    Landsman, W.R.2    Wahlen, J.M.3
  • 3
    • 0002791129 scopus 로고
    • Fundamental issues related to using fair value accounting for financial reporting
    • _, and _. 1995. Fundamental issues related to using fair value accounting for financial reporting. Accounting Horizons (9): 97-108.
    • (1995) Accounting Horizons , vol.9 , pp. 97-108
    • Barth, M.E.1    Landsman, W.R.2    Wahlen, J.M.3
  • 8
    • 0001840634 scopus 로고
    • Cross-sectional dependence and problems in inference in market-based accounting research
    • Bernard, V. L. 1987. Cross-sectional dependence and problems in inference in market-based accounting research. Journal of Accounting Research (25): 1-48.
    • (1987) Journal of Accounting Research , vol.25 , pp. 1-48
    • Bernard, V.L.1
  • 9
    • 46049103922 scopus 로고    scopus 로고
    • A survey of contingent-claims approaches to risky debt valuation
    • Spring
    • Bohn, J. 2000. A survey of contingent-claims approaches to risky debt valuation. Journal of Risk Finance (Spring): 1-18.
    • (2000) Journal of Risk Finance , pp. 1-18
    • Bohn, J.1
  • 10
    • 84977423732 scopus 로고
    • The theoretical relationship between systematic risk and financial (accounting) variables
    • Bowman, R. G. 1979. The theoretical relationship between systematic risk and financial (accounting) variables. The Journal of Finance (34): 617-630.
    • (1979) The Journal of Finance , vol.34 , pp. 617-630
    • Bowman, R.G.1
  • 11
    • 0039250386 scopus 로고    scopus 로고
    • Equity premia as low as three percent? Evidence from analysts' earnings forecasts for domestic and international stock markets
    • Claus, J., and J. Thomas. 2001. Equity premia as low as three percent? Evidence from analysts' earnings forecasts for domestic and international stock markets. The Journal of Finance (56): 1629-1666.
    • (2001) The Journal of Finance , vol.56 , pp. 1629-1666
    • Claus, J.1    Thomas, J.2
  • 12
    • 0031498152 scopus 로고    scopus 로고
    • Changes in the value-relevance of earnings and equity book values over the past forty years
    • Collins, D. W., E. L. Maydew, and I. S. Weiss. 1997. Changes in the value-relevance of earnings and equity book values over the past forty years. Journal of Accounting and Economics (24): 39-67.
    • (1997) Journal of Accounting and Economics , vol.24 , pp. 39-67
    • Collins, D.W.1    Maydew, E.L.2    Weiss, I.S.3
  • 13
    • 0013302364 scopus 로고    scopus 로고
    • The effect of accounting-based debt covenants on equity valuation
    • Core, J. E., and C. M. Schrand. 1999. The effect of accounting-based debt covenants on equity valuation. Journal of Accounting and Economics (27): 1-35.
    • (1999) Journal of Accounting and Economics , vol.27 , pp. 1-35
    • Core, J.E.1    Schrand, C.M.2
  • 14
    • 0003064069 scopus 로고
    • The association between unexpected earnings and abnormal security returns in the presence of financial leverage
    • Dhaliwal, D. S., K. J. Lee, and N. L. Fargher. 1991. The association between unexpected earnings and abnormal security returns in the presence of financial leverage. Contemporary Accounting Research (8): 20-42.
    • (1991) Contemporary Accounting Research , vol.8 , pp. 20-42
    • Dhaliwal, D.S.1    Lee, K.J.2    Fargher, N.L.3
  • 17
    • 0040291377 scopus 로고    scopus 로고
    • Long-run stock returns following bond rating changes
    • Dichev, I., and J. Piotroski. 2001. Long-run stock returns following bond rating changes. The Journal of Finance (56): 173-203.
    • (2001) The Journal of Finance , vol.56 , pp. 173-203
    • Dichev, I.1    Piotroski, J.2
  • 19
    • 0011603540 scopus 로고    scopus 로고
    • The relation between treasury yields and corporate bond yield spreads
    • _. 1998. The relation between treasury yields and corporate bond yield spreads. The Journal of Finance (53): 2225-2241.
    • (1998) The Journal of Finance , vol.53 , pp. 2225-2241
    • Duffee, G.R.1
  • 20
    • 0033416234 scopus 로고    scopus 로고
    • Modeling term structures of defaultable bonds
    • Duffle, D., and K. Singleton. 1999. Modeling term structures of defaultable bonds. Review of Financial Studies (12-4): 687-720.
    • (1999) Review of Financial Studies , vol.12 -4 , pp. 687-720
    • Duffle, D.1    Singleton, K.2
  • 21
    • 0002778354 scopus 로고
    • Earnings as an explanatory variable for return
    • Easton, P., and T. Harris. 1991. Earnings as an explanatory variable for return. Journal of Accounting Research (29): 19-36.
    • (1991) Journal of Accounting Research , vol.29 , pp. 19-36
    • Easton, P.1    Harris, T.2
  • 22
    • 1342330573 scopus 로고    scopus 로고
    • PE ratios, PEG ratios, and estimating the implied expected rate of return on equity capital
    • _. 2004. PE ratios, PEG ratios, and estimating the implied expected rate of return on equity capital. The Accounting Review (79): 73-95.
    • (2004) The Accounting Review , vol.79 , pp. 73-95
    • Easton, P.1    Harris, T.2
  • 24
  • 27
    • 84977737676 scopus 로고
    • The cross-section of expected stock returns
    • Fama, E. F., and K. R. French. 1992. The cross-section of expected stock returns. The Journal of Finance (47): 427-465.
    • (1992) The Journal of Finance , vol.47 , pp. 427-465
    • Fama, E.F.1    French, K.R.2
  • 28
    • 0038694468 scopus 로고    scopus 로고
    • Taxes, financing decisions, and firm value
    • _, and _. 1998. Taxes, financing decisions, and firm value. The Journal of Finance (53): 819-843.
    • (1998) The Journal of Finance , vol.53 , pp. 819-843
    • Fama, E.F.1    French, K.R.2
  • 29
    • 0007111672 scopus 로고    scopus 로고
    • Accounting for Derivative Instruments and Hedging Activities
    • Financial Accounting Standards Board FASB, Norwalk, CT: FASB
    • Financial Accounting Standards Board (FASB). 1998. Accounting for Derivative Instruments and Hedging Activities. Statement of Financial Accounting Standards No. 133. Norwalk, CT: FASB.
    • (1998) Statement of Financial Accounting Standards , Issue.133
  • 31
    • 33749030268 scopus 로고
    • The option pricing model and the risk factor of stock
    • Galai, D., and R. W. Masulis. 1976. The option pricing model and the risk factor of stock. Journal of Financial Economics (3): 53-81.
    • (1976) Journal of Financial Economics , vol.3 , pp. 53-81
    • Galai, D.1    Masulis, R.W.2
  • 33
    • 1342303879 scopus 로고    scopus 로고
    • Inferring the cost of equity using the Ohlson-Jüettner model
    • Gode, D., and P. Mohanram. 2003. Inferring the cost of equity using the Ohlson-Jüettner model. Review of Accounting Studies (8): 399-431.
    • (2003) Review of Accounting Studies , vol.8 , pp. 399-431
    • Gode, D.1    Mohanram, P.2
  • 34
    • 84993905018 scopus 로고
    • Is a bond rating downgrade bad news, good news, or no news for stockholders?
    • Goh, J. C., and L. H. Ederington. 1993. Is a bond rating downgrade bad news, good news, or no news for stockholders? Journal of Finance (48): 2001-2008
    • (1993) Journal of Finance , vol.48 , pp. 2001-2008
    • Goh, J.C.1    Ederington, L.H.2
  • 35
    • 33745302208 scopus 로고    scopus 로고
    • International differences in the cost of equity capital: Do legal institutions and securities regulation matter?
    • Hail, L., and C. Leuz. 2006. International differences in the cost of equity capital: Do legal institutions and securities regulation matter? Journal of Accounting Research (44): 485-532.
    • (2006) Journal of Accounting Research , vol.44 , pp. 485-532
    • Hail, L.1    Leuz, C.2
  • 38
  • 40
    • 33645902912 scopus 로고    scopus 로고
    • Risk-relevance of fair value income measurement for commercial banks
    • Hodder, L., P. Hopkins, and J. Wahlen. 2006. Risk-relevance of fair value income measurement for commercial banks. The Accounting Review (81): 337-375.
    • (2006) The Accounting Review , vol.81 , pp. 337-375
    • Hodder, L.1    Hopkins, P.2    Wahlen, J.3
  • 41
    • 0039008350 scopus 로고
    • The effect of bond rating changes on common stock prices
    • Holthausen, R., and R. Leftwich. 1986. The effect of bond rating changes on common stock prices. Journal of Financial Economics (17): 57-90.
    • (1986) Journal of Financial Economics , vol.17 , pp. 57-90
    • Holthausen, R.1    Leftwich, R.2
  • 43
    • 46049097113 scopus 로고    scopus 로고
    • International Accounting Standards Board IASB, IAS, London, U.K, IASB
    • International Accounting Standards Board (IASB). 2003. Financial Instruments: Recognition and Measurement. IAS No. 39. London, U.K.: IASB.
    • (2003) Financial Instruments: Recognition and Measurement , Issue.39
  • 46
    • 16844367658 scopus 로고    scopus 로고
    • Informational effects of regulation FD: Evidence from rating agencies
    • Jorion, P., Z. Liu, and C. Shi. 2005. Informational effects of regulation FD: Evidence from rating agencies. Journal of Financial Economics (76): 309-330.
    • (2005) Journal of Financial Economics , vol.76 , pp. 309-330
    • Jorion, P.1    Liu, Z.2    Shi, C.3
  • 47
    • 0039012081 scopus 로고    scopus 로고
    • The information value of bond ratings
    • Kliger, D., and O. Sarig. 2000. The information value of bond ratings. The Journal of Finance (55): 2879-2902.
    • (2000) The Journal of Finance , vol.55 , pp. 2879-2902
    • Kliger, D.1    Sarig, O.2
  • 49
    • 23744433873 scopus 로고    scopus 로고
    • Fair valuing debt turns deteriorating credit quality into positive signals for Boston Chicken
    • Lipe, R. 2002. Fair valuing debt turns deteriorating credit quality into positive signals for Boston Chicken. Accounting Horizons (16): 169-182.
    • (2002) Accounting Horizons , vol.16 , pp. 169-182
    • Lipe, R.1
  • 50
    • 0000808665 scopus 로고
    • On the pricing of corporate debt: The risk structure of interest rates
    • Merton, R. C. 1974. On the pricing of corporate debt: The risk structure of interest rates. The Journal of Finance (29): 449-470.
    • (1974) The Journal of Finance , vol.29 , pp. 449-470
    • Merton, R.C.1
  • 51
    • 0030306590 scopus 로고    scopus 로고
    • Fair value accounting for commercial banks: An empirical analysis of SFAS No. 107
    • Nelson, K. K. 1996. Fair value accounting for commercial banks: An empirical analysis of SFAS No. 107. The Accounting Review (71): 161-182.
    • (1996) The Accounting Review , vol.71 , pp. 161-182
    • Nelson, K.K.1
  • 53
    • 0012235377 scopus 로고    scopus 로고
    • Measuring investment distortions arising from stockholder-bond holder conflicts
    • Parrino, R., and M. S. Weisbach. 1999. Measuring investment distortions arising from stockholder-bond holder conflicts. Journal of Financial Economics (53): 3-42.
    • (1999) Journal of Financial Economics , vol.53 , pp. 3-42
    • Parrino, R.1    Weisbach, M.S.2
  • 55
    • 84977319204 scopus 로고
    • The adjustment of stock prices to bond rating changes
    • Pinches, G., and J. C. Singleton. 1978. The adjustment of stock prices to bond rating changes. The Journal of Finance (33): 29-44.
    • (1978) The Journal of Finance , vol.33 , pp. 29-44
    • Pinches, G.1    Singleton, J.C.2
  • 56
    • 11244287728 scopus 로고    scopus 로고
    • The walkdown to beatable analyst forecasts: The roles of equity issuance and insider trading incentives
    • Richardson, S., S. Teoh, and P. Wysocki. 2004. The walkdown to beatable analyst forecasts: The roles of equity issuance and insider trading incentives. Contemporary Accounting Research (21): 885-924.
    • (2004) Contemporary Accounting Research , vol.21 , pp. 885-924
    • Richardson, S.1    Teoh, S.2    Wysocki, P.3
  • 57
    • 84990394387 scopus 로고    scopus 로고
    • Financial instrument fair values and nonfinancial firms
    • Simko, P. 1999. Financial instrument fair values and nonfinancial firms. Journal of Accounting, Auditing, and Finance (14): 247-275.
    • (1999) Journal of Accounting, Auditing, and Finance , vol.14 , pp. 247-275
    • Simko, P.1
  • 58
    • 44949291301 scopus 로고
    • Valuation effects of holding gains in long-term debt
    • Strong, J. S. 1990. Valuation effects of holding gains in long-term debt. Journal of Accounting and Economics (13): 267-283.
    • (1990) Journal of Accounting and Economics , vol.13 , pp. 267-283
    • Strong, J.S.1
  • 59
    • 1842663087 scopus 로고    scopus 로고
    • Default risk in equity returns
    • Vassalou, M., and Y. Xing. 2004. Default risk in equity returns. The Journal of Finance (49): 831-868.
    • (2004) The Journal of Finance , vol.49 , pp. 831-868
    • Vassalou, M.1    Xing, Y.2
  • 60
    • 0000095552 scopus 로고
    • A heteroscedasticity-consistent covariance matrix estimator and a direct test for heteroscedasticity
    • White, H. 1980. A heteroscedasticity-consistent covariance matrix estimator and a direct test for heteroscedasticity. Econometrica (48): 817-838.
    • (1980) Econometrica , vol.48 , pp. 817-838
    • White, H.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.