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Accounting Standards, Regulations and Herd Behavior

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Author Info

  • Anghel Flavia Gabriela
  • Avrigeanu Alina Florentina
  • Glavan Bogdan Nicolae

    ()
    (Universitatea Româno-Americana)

Abstract

It is argued that the current accounting and risk assessment methods have played an important role in developing financial panic. Mark-tomarket models and fair value accounting seem to stand as the basis a market failure and should be replaced by more conservative accounting methods. In this paper we reject this idea, emphasizing the weaknesses of historical cost accounting and mark-to-model financial model. We put the debate in a larger perspective, pointing to the relation between accounting methods and entrepreneurial economic calculation. Also, we criticize the association between fair-value accounting and the current crisis, arguind that the latter is more likely the result of risk regulation that determined herd behavior.

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File URL: http://stec.univ-ovidius.ro/html/anale/RO/cuprins%20rezumate/rezumatemai2010.pdf
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Bibliographic Info

Article provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.

Volume (Year): X (2010)
Issue (Month): 1 (May)
Pages: 1406-1411

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Handle: RePEc:ovi:oviste:v:10:y:2010:i:1:p:1406-1411

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Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
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Related research

Keywords: financial assets; business cycle; entrepreneurial economic calculation; herd behavior;

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