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An empirical examination of the capi...

Cochran, Robert James.

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An empirical examination of the capitalization of mortgage loan servicing rights: A positive approach.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	An empirical examination of the capitalization of mortgage loan servicing rights: A positive approach./
Author:	Cochran, Robert James.
Description:	130 p.
Notes:	Director: Edward N. Coffman.
Contained By:	Dissertation Abstracts International62-08A.
Subject:	Business Administration, Accounting. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3023399
ISBN:	0493349324

An empirical examination of the capitalization of mortgage loan servicing rights: A positive approach.
Cochran, Robert James.

An empirical examination of the capitalization of mortgage loan servicing rights: A positive approach. - 130 p.

Director: Edward N. Coffman.

Thesis (Ph.D.)--Virginia Commonwealth University, 2001.

This study also examines the question of whether managers will make accounting choices outside the choices envisioned by the FASB. If given the opportunity, will managers capitalize MSRs under (over) their fair value? (Abstract shortened by UMI.)

ISBN: 0493349324Subjects--Topical Terms:

1020666
Business Administration, Accounting.

An empirical examination of the capitalization of mortgage loan servicing rights: A positive approach.
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020 $a 0493349324
035 $a (UnM)AAI3023399
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100 1 $a Cochran, Robert James. $3 1254572
245 1 0 $a An empirical examination of the capitalization of mortgage loan servicing rights: A positive approach.
300 $a 130 p.
500 $a Director: Edward N. Coffman.
500 $a Source: Dissertation Abstracts International, Volume: 62-08, Section: A, page: 2804.
502 $a Thesis (Ph.D.)--Virginia Commonwealth University, 2001.
520 $a This study also examines the question of whether managers will make accounting choices outside the choices envisioned by the FASB. If given the opportunity, will managers capitalize MSRs under (over) their fair value? (Abstract shortened by UMI.)
520 $a This study is an examination of the financial services industry within the context of positive accounting theory specifically as it relates to the activity of mortgage loan servicing. Firms engaged in the servicing of mortgage loans are presented with an accounting choice relative to the capitalization of mortgage loan servicing rights (MSRs). Capitalization of MSRs is required by <italic>Statement of Financial Accounting Standards No. 125</italic>. The mechanics of capitalization are complex and SFAS No. 125 is devoid of specific rules and instructions as to how capitalization is to occur. The lack of specific guidance presents managers with an accounting choice. They can capitalize MSRs conservatively or aggressively. This study is an examination of the choice made by managers when capitalizing MSRs.
520 $a This study improves on prior positive accounting research in a number of ways. This study uses panel data acquired over a four-year period, examines an accounting choice that can be operationalized as a continuous dependent variable as opposed to operationalizing the dependent variable as a dummy variable to indicate one choice over another, measures all monetary independent variables as continuous variables, is an intra-industry study as opposed to a cross-sectional study and the only study known to examine the financial services industry. Additionally, it is thought to be the first study to examine the question of whether managers will make choices outside of the choices intended for them by the Financial Accounting Standards Board.
520 $a Five hypotheses are developed from positive accounting theory. Managers of large firms will capitalize MSRs at lower levels (income decreasing) than managers of small firms. Managers of firms with high debt-to-equity ratios will capitalize MSRs at higher levels (income increasing) than will managers of firms with lower debt-to-equity ratios. Managers of firms where bonus compensation is a higher proportion of total annual cash compensation will capitalize MSRs at higher levels (income increasing) than will managers at firms where bonus compensation is a lower proportion of total annual cash compensation. Managers subject to federal or state regulation will be influenced to make different accounting choices than will managers in an unregulated environment. Additionally, the relative importance of the debt-to-equity influence versus the regulatory influence is examined.
590 $a School code: 2383.
650 4 $a Business Administration, Accounting. $3 1020666
650 4 $a Business Administration, Banking. $3 1018458
690 $a 0272
690 $a 0770
710 2 0 $a Virginia Commonwealth University. $3 1018010
773 0 $t Dissertation Abstracts International $g 62-08A.
790 $a 2383
790 1 0 $a Coffman, Edward N., $e advisor
791 $a Ph.D.
792 $a 2001
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3023399