Who's the fairest of them all?
Lawrence, Alastair
Who's the fairest of them all? : evidence from closed-end funds / Alastair Lawrence, Subprasiri Siriviriyakul & Richard G. Sloan . -- Páginas 207 a la 227
Reseña : Prior research examining the ASC 820 fair value hierarchy concludes that Level 3 fair value measurements are significantly less value relevant than Level 1 and Level 2 fair value measurements. We reevaluate this conclusion using the closed-end fund setting, in which fair value measurements are available for substantially all assets. Contrary to prior research, we find that Level 3 fair values are of similar value relevance to Level 1 and Level 2 fair values. Our findings suggest that the results in previous research are attributable to correlated omitted variable bias arising from the absence of fair value data for most assets..
Contabilidad--Publicaciones seriadas
Instituciones financieras--Publicaciones seriadas
Siriviriyakul, Subprasiri ; Sloan, Richard G. ;
Who's the fairest of them all? : evidence from closed-end funds / Alastair Lawrence, Subprasiri Siriviriyakul & Richard G. Sloan . -- Páginas 207 a la 227
Reseña : Prior research examining the ASC 820 fair value hierarchy concludes that Level 3 fair value measurements are significantly less value relevant than Level 1 and Level 2 fair value measurements. We reevaluate this conclusion using the closed-end fund setting, in which fair value measurements are available for substantially all assets. Contrary to prior research, we find that Level 3 fair values are of similar value relevance to Level 1 and Level 2 fair values. Our findings suggest that the results in previous research are attributable to correlated omitted variable bias arising from the absence of fair value data for most assets..
Contabilidad--Publicaciones seriadas
Instituciones financieras--Publicaciones seriadas
Siriviriyakul, Subprasiri ; Sloan, Richard G. ;