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Is A Pension Fund's Mix Of Fair Value Investments, Audit Type, And Audit Quality Associated With The Firm's Credit Rating?, Trevor England
Is A Pension Fund's Mix Of Fair Value Investments, Audit Type, And Audit Quality Associated With The Firm's Credit Rating?, Trevor England
Doctor of Business Administration Dissertations
There has been a proliferation of alternative investment holdings by defined benefit pension plans during the 21st century. While holdings of alternative investments may advantage pension plans and their sponsoring firms through diversification and/or less volatile returns, they may also present valuation problems because underlying investments in opaquely valued (or marked-to-model) securities contain larger estimation error and uncertainty. Such valuation problems may concern credit reporting agencies because the sponsoring firm’s pension plan liability is uncertain. This problem is exacerbated through agency relationships within pension plans that enable executives and investment managers to engage in opportunistic financial reporting of fair …
The Effects Of Tarp On Fair Value Accounting, Christopher N. Mitschow
The Effects Of Tarp On Fair Value Accounting, Christopher N. Mitschow
Senior Honors Projects
In the aftermath of the financial crisis of 2008, fair value accounting in banks has come under a great deal of criticism by some who believed bank managers were intentionally reclassifying assets to prevent write-downs, or who believed that banks were taking risks with fair value assets and liabilities that caused their distressed states. We analyzed banks’ use of fair value accounting by using the SEC’s EDGAR database to read and analyze the financial statements of public banks which received Troubled Asset Relief Program (TARP) funds and have since repaid them. We looked to see if banks classified more assets …