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Record Nr. |
UNINA9910788226703321 |
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Autore |
Laeven Luc |
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Titolo |
Accounting discretion of banks during a financial crisis / / Luc Laeven, Harry Huizinga |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2009 |
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ISBN |
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1-4623-3255-2 |
1-4518-7354-9 |
1-282-84413-X |
9786612844133 |
1-4527-3492-5 |
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Descrizione fisica |
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Collana |
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Altri autori (Persone) |
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Soggetti |
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Banks and banking |
Accounting - Corrupt practices |
Banks and Banking |
Financial Risk Management |
Investments: General |
Industries: Financial Services |
Banks |
Depository Institutions |
Micro Finance Institutions |
Mortgages |
Financial Institutions and Services: Government Policy and Regulation |
International Financial Markets |
General Financial Markets: General (includes Measurement and Data) |
Banking |
Finance |
Financial services law & regulation |
Investment & securities |
Loans |
Loan loss provisions |
Asset valuation |
Securities |
State supervision |
Asset-liability management |
Financial instruments |
United States |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Bibliographic Level Mode of Issuance: Monograph |
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Nota di bibliografia |
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Includes bibliographical references. |
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Sommario/riassunto |
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This paper shows that banks use accounting discretion to overstate the value of distressed assets. Banks' balance sheets overvalue real estate-related assets compared to the market value of these assets, especially during the U.S. mortgage crisis. Share prices of banks with large exposure to mortgage-backed securities also react favorably to recent changes in accounting rules that relax fair-value accounting, and these banks provision less for bad loans. Furthermore, distressed banks use discretion in the classification of mortgage-backed securities to inflate their books. Our results indicate that banks' balance sheets offer a distorted view of the financial health of the banks. |
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