Ellul, Andrew; Jotikasthira, Chotibhak; Lundblad, … - Centro Studi di Economia e Finanza (CSEF) - 2014
We provide new empirical evidence concerning the contentious debate over the use of historical cost (HCA) versus mark-to-market (MTM) accounting in regulating financial institutions. These accounting rules, through their interactions with capital regulations, alter financial institutions’...