دانلود مقاله ISI انگلیسی شماره 146471
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عنوان انگلیسی
Strategic estimation of asset fair values
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
146471 2018 54 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Accounting and Economics, Available online 31 January 2018

پیش نمایش مقاله
پیش نمایش مقاله  برآورد استراتژیک ارزش منصفانه دارایی

چکیده انگلیسی

We examine whether fair value (FV) input levels and estimation sources are related to FV inflation, the difference between an insurer's FV estimate and the consensus FV estimate across the security's holders. FV inflation is higher, and self-estimation more likely, when insurers report using Level 3 inputs when the consensus level is 2. Regardless of the level, FV is greater when self-estimated. Public insurers that inflate FV through self-estimation potentially obfuscate detection by reporting the use of Level 2 inputs. Insurers with stronger incentives to appear financially healthy choose to self-estimate, resulting in greater aggregate portfolio FV inflation.