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Projections of Pension Fund Solvency under Alternative Accounting Regimes

Author

Listed:
  • Andreev, Andriy

    (Swedish School of Economics and Business Administration)

  • Sjöholm, Hans-Kristian

    (Swedish School of Economics and Business Administration)

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.

Suggested Citation

  • Andreev, Andriy & Sjöholm, Hans-Kristian, 2006. "Projections of Pension Fund Solvency under Alternative Accounting Regimes," Working Papers 517, Hanken School of Economics.
    • Handle: RePEc:hhb:hanken:0517
    as

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    References listed on IDEAS

    as
    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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    More about this item

    Keywords

    pension fund; solvency; long-horizon return; asset liability management; accounting standards;
    All these keywords.

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