This paper investigates whether the fair value accounting for available-for-sale (AfS) securities and the capital regulation permit to shift risk from shareholders to creditors. Using a sample of 5,510 firm-year observations generated from 754 unique U.S. banks from 1998 to 2013, we find that...

Standards and conceptual issues -- Fair value and the conceptual framework -- Fair value accounting : a standard setting perspective -- Have the standard setters gone too far, or not far enough, with fair value accounting? -- Shareholder value, financialization and accounting regulation : making...

The period 2007-2010 marked one of the most severe economic and financial crises in living memory. In this paper we focus on two of accounting's key functions within organizations and markets, financial reporting and governance. In this respect we find that accounting exhibited shortcomings in...