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Fair Value Accounting, Disclosure and Financial Stability: Does How We Keep Score Influence How the Game is Played?

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  • Herring, Richard J.

    (University of PA)

Abstract

Virtually every chief executive officer of a failed financial institution blamed fair value accounting (along with short-sellers and hedge funds) for his firm's plight. But CEOs were not alone in blaming FVA for the crisis.

Suggested Citation

  • Herring, Richard J., 2011. "Fair Value Accounting, Disclosure and Financial Stability: Does How We Keep Score Influence How the Game is Played?," Working Papers 11-72, University of Pennsylvania, Wharton School, Weiss Center.
    • Handle: RePEc:ecl:upafin:11-72
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    File URL: http://fic.wharton.upenn.edu/fic/papers/11/11-72.pdf
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    Cited by:

    1. Knott, Samuel & Richardson, Peter & Rismanchi, Katie & Sen, Kallol, 2014. "Financial Stability Paper 31: Understanding the fair value of banks’ loans," Bank of England Financial Stability Papers 31, Bank of England.
    2. Beatty, Anne & Liao, Scott, 2014. "Financial accounting in the banking industry: A review of the empirical literature," Journal of Accounting and Economics, Elsevier, vol. 58(2), pages 339-383.

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