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Projections of Pension Fund Solvency under Alternative Accounting Regimes

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Author Info

  • Andreev, Andriy

    () (Swedish School of Economics and Business Administration)

  • Sjöholm, Hans-Kristian

    () (Swedish School of Economics and Business Administration)

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    Abstract

    This paper examines the impact of three alternative accounting regimes on perceived pension fund solvency. Deterministic accounting assumes actuarially smoothed valuation of assets and liabilities. National accounting is based on market valuation of assets and on actuarial valuation of liabilities. International accounting books assets and liabilities to market values. Using closed-form methods based on the funding ratio return, we exemplify the dramatic effect that the choice of accounting approach has on long-horizon solvency projections.

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    Bibliographic Info

    Paper provided by Hanken School of Economics in its series Working Papers with number 517.

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    Length: 14 pages
    Date of creation: 13 Sep 2006
    Date of revision:
    Handle: RePEc:hhb:hanken:0517

    Contact details of provider:
    Postal: Hanken School of Economics, Arkadiankatu 22, P.O.B. 479; FIN 00101 Helsinki, Finland
    Phone: +358-9-431 331
    Fax: +358-9-431 33 333
    Web page: http://www.hanken.fi
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    Keywords: pension fund; solvency; long-horizon return; asset liability management; accounting standards;

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    1. Forsman, Maria & Solitander, Nikodemus, 2004. "The Context and Diffusion of Knowledge in the Finnish Jewellery Industry - The role of The House of Fabergé," Working Papers 506, Hanken School of Economics.
    2. Ekholm, Anders & von Nandelstadh, Alexander, 2004. "Do Analysts Leak Information to Preferred Customers?," Working Papers 505, Hanken School of Economics.
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