Fair value accounting and earnings variability: Evidence from global real estate firms

Consequences of Voluntary and Mandatory Fair Value Accounting: Evidence Surrounding IFRS Adoption in the EU Real Estate Industry

We examine the causes and consequences of European real estate firms’ decisions to provide investment property fair values prior to the required disclosure of this information under International Financial Reporting Standards (IFRS). We find evidence that investor demand for fair value information—reflected in more dispersed ownership—and a firm’s commitment to transparency increase the likelih...

Fair Value Accounting for Liabilities and Own Credit Risk

Changes in credit risk may arise when either the value or the risk of corporate assets changes. Changes in the equity value associated with the changes in the asset value and changes in asset risk can be characterized into potentially countervailing direct and indirect effects. The indirect effect of risk on equity value is a function of factors that affect the debt value of including leverage,...

Chairman Characteristics and Earnings Management: Evidence from Chinese Listed Firms

Using a large sample of Chinese listed companies during period from 2005 to 2014, this paper investigates whether the managerial characteristics of Chairman affect earnings management. Using McNichols [1] accrual-based and Roychowdhury [2] real earning management, we find that companies with female, long-tenured, older and more educated Chairman have lower absolute discretionary accruals and lo...

Earnings Inequality and Coordination Costs: Evidence from U.S. Law Firms

Earnings inequality has increased substantially since the 1970s. How much does this re‡ect decreases in coordination costs that allow individuals to better exploit returns to skill? We provide evidence on this question using con…dential Census data on U.S. law o¢ ces. We …rst show that earnings inequality among lawyers increased substantially between 1977 and 1992, and that the distribution of ...

Further Evidence that Solar Adds Value to Real Estate