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Full-Text Articles in Business
Voluntary Fair Value Disclosures Beyond Sfas 157’S Three-Level Estimates, Sung Gon Chung, Beng Wee Goh, Jeffrey Ng, Kevin Ow Yong
Voluntary Fair Value Disclosures Beyond Sfas 157’S Three-Level Estimates, Sung Gon Chung, Beng Wee Goh, Jeffrey Ng, Kevin Ow Yong
Research Collection School Of Accountancy
Some firms voluntarily make disclosures about the controls and processes in place to ensure the reliability of fair value estimates. Consistent with these disclosures being driven by management’s concerns about the reliability of their SFAS 157 estimates, we find that firms with more opaque estimates are more likely to provide such disclosures. We then examine whether these disclosures increase the reliability of fair value estimates. We find that they are associated with higher market pricing and lower information risk for Level 3 estimates. Further analyses of the contents of the reliability disclosures reveal that the following are particularly important to …
Differences In The Reliability Of Fair Value Hierarchy Measurements: A Cross Country Study, Chu Yeong Lim, Tee Yong Jeffrey Ng, Keng Kevin Ow Yong, Gary Pan
Differences In The Reliability Of Fair Value Hierarchy Measurements: A Cross Country Study, Chu Yeong Lim, Tee Yong Jeffrey Ng, Keng Kevin Ow Yong, Gary Pan
Research Collection School Of Accountancy
Prior research suggests that there are significant differences in how investors perceive the reliability of fair values across the fair value hierarchy. An unaddressed question in this stream of research is whether cross-country differences in institutional factors are able to mediate differences in reliability for the fair value hierarchy measurements. Based on an international sample of banks across 20 different countries, we find that the probability of crash risk is lower among countries with better financial development infrastructure, greater level of trust, tighter security regulations and higher level of disclosure requirements. These results apply to Level 1 assets but not …