東華大學圖書館 |

Language: English

Help

回圖書館首頁

手機版館藏查詢

Back

Switch To: Labeled | MARC Mode | ISBD

Reliability and relevance of market ...

Hodder, Leslie Davis.

Linked to FindBook

Google Book

Amazon

博客來

Reliability and relevance of market risk disclosures by commercial banks.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Reliability and relevance of market risk disclosures by commercial banks./
Author:	Hodder, Leslie Davis.
Description:	128 p.
Notes:	Source: Dissertation Abstracts International, Volume: 62-11, Section: A, page: 3846.
Contained By:	Dissertation Abstracts International62-11A.
Subject:	Business Administration, Accounting. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3034549
ISBN:	0493473246

Reliability and relevance of market risk disclosures by commercial banks.
Hodder, Leslie Davis.

Reliability and relevance of market risk disclosures by commercial banks. - 128 p.

Source: Dissertation Abstracts International, Volume: 62-11, Section: A, page: 3846.

Thesis (Ph.D.)--The University of Texas at Austin, 2001.

This dissertation examines the relevance and <italic>reliability</italic> of mandated market risk disclosures of commercial banks. I assess reliability by examining the extent to which the disclosures are associated with future changes in income or fair values, conditional on actual changes in market factors. To evaluate the <italic>relevance</italic> of market risk measures, I provide evidence on the extent to which these disclosures are useful in explaining the firm's cost of equity. If the disclosures measure risks that investors consider when valuing stocks, then firms with disclosures indicating greater market risk should have higher costs of equity.

ISBN: 0493473246Subjects--Topical Terms:

1020666
Business Administration, Accounting.

Reliability and relevance of market risk disclosures by commercial banks.
LDR:03311nam 2200301 a 45 001 929137
005 20110427
008 110427s2001 eng d
020 $a 0493473246
035 $a (UnM)AAI3034549
035 $a AAI3034549
040 $a UnM $c UnM
100 1 $a Hodder, Leslie Davis. $3 1252622
245 1 0 $a Reliability and relevance of market risk disclosures by commercial banks.
300 $a 128 p.
500 $a Source: Dissertation Abstracts International, Volume: 62-11, Section: A, page: 3846.
500 $a Supervisor: Ross G. Jennings.
502 $a Thesis (Ph.D.)--The University of Texas at Austin, 2001.
520 $a This dissertation examines the relevance and <italic>reliability</italic> of mandated market risk disclosures of commercial banks. I assess reliability by examining the extent to which the disclosures are associated with future changes in income or fair values, conditional on actual changes in market factors. To evaluate the <italic>relevance</italic> of market risk measures, I provide evidence on the extent to which these disclosures are useful in explaining the firm's cost of equity. If the disclosures measure risks that investors consider when valuing stocks, then firms with disclosures indicating greater market risk should have higher costs of equity.
520 $a In addition, I address two ancillary research questions. The first is whether reporting discretion enhances or impairs the relevance and reliability of market risk measures. To examine this issue, I compare the results for regulatory disclosures which permit very little discretion with results for SEC disclosures which permit a great deal of discretion. The second ancillary question is whether alternative bases of risk measurement (risk of income loss and risk of fair value loss) are each reliable and relevant measures of risk. Current SEC disclosure requirements treat fair value and income risk as interchangeable alternatives. I investigate whether income and fair value sensitivity disclosures are distinct risk constructs by assessing the incremental usefulness of each measure for explaining cross-sectional variation in the cost of equity.
520 $a Results show that market risk measures are reliable in the sense that they are associated with actual future changes in income and fair values. However, these results are much stronger for regulatory disclosures that allow very little discretion. This suggests that the reliability of market risk disclosures is decreasing in the amount of discretion allowed by reporting standards. Consistent with their greater predictive accuracy, regulatory risk disclosure amounts are positively associated with the cost of equity, while SEC risk disclosures are not. In addition, each of the regulatory income and fair value disclosures is positively and incrementally associated with firms' costs of equity suggesting that these measures are complementary rather than interchangeable risk measures. Results are robust to alternative specifications and alternative measures of risk.
590 $a School code: 0227.
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 The University of Texas at Austin. $3 718984
773 0 $t Dissertation Abstracts International $g 62-11A.
790 $a 0227
790 1 0 $a Jennings, Ross G., $e advisor
791 $a Ph.D.
792 $a 2001
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3034549