Detail Fair values: Insights from bank acquisitions Bibliografi Author: Eldridge, Susan W. ; Landsman, Wayne R. (Advisor) Topik: BUSINESS ADMINISTRATION; ACCOUNTING|BUSINESS ADMINISTRATION; BANKING Bahasa: (EN )    ISBN: 0-591-39860-5     Penerbit: THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL     Tahun Terbit: 1997     Jenis: Theses - Dissertation Fulltext: 9730521.pdf (0.0B; 2 download) Abstract This study examines fair value issues using a previously unexplored data set, acquisitions accounted for under the purchase accounting method. This is a natural setting to use in investigating fair value issues because acquisition purchase prices are allocated to identifiable assets and liabilities based on their fair values. Results of analyses of acquisition fair values and tests of differences between those fair values and book values of corresponding balance sheet components indicate that only core deposit intangibles, mortgage servicing rights, and goodwill have reported fair values different from book values. For the target banks in this sample, acquisition fair values, SFAS 107 fair values, and book values of financial instrument items are essentially equal. Acquisition data are used to determine statistical relations to use in estimating the three intangible asset items, and fair values for those intangible asset items are estimated for banks in a non-acquisition sample to test whether they are value relevant in explaining market-book value of equity differences. Results show that when the variables representing the difference between the estimated fair value and book value of these intangibles are included in a regression of the difference between market and book values of equity on the differences between fair and book values of other balance sheet components, the explanatory power of the model increases significantly. For the three intangibles variables, the coefficient for core deposit intangibles is positive and significant, that for mortgage servicing rights is negative and significant, and the goodwill variable coefficient is insignificant. The estimated fair value of core deposit intangibles based on the acquisition data appears to be a less noisy measure than the measure used in prior research. Results are sensitive to whether the bank is a commercial bank or a savings institution. For commercial banks, the estimated fair value of goodwill has explanatory power and that of core deposit intangibles does not. For savings institutions, the full sample results hold. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Lihat Sejarah Pengadaan  Konversi Metadata   Kembali

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