The recent financial crisis has led to a vigorous debate about the pros and cons of fair-value accounting (FVA). This debate presents a major challenge for FVA going forward and standard setters' push to extend FVA into other areas. In this article, we highlight four important issues as an...

The aim of this paper is to examine what has been the role of information provision to the market throughout the crisis. We consider two main sources of information to the market, financial statements and information provided by credit rating agencies. We examine how these sources of information...

The recent financial crisis has led to a vigorous debate about the pros and cons of fair-value accounting (FVA). This debate presents a major challenge for FVA going forward and standard setters’ push to extend FVA into other areas. In this article, we highlight four important issues as an...

This paper investigates what we can learn from the financial crisis about the link between accounting and financial stability. The picture that emerges ten years after the crisis is substantially different from the picture that dominated the accounting debate during and shortly after the crisis....

This paper examines the interaction of the IFRS 9 expected credit loss model with supervisory rules and discusses potential implications for financial stability. IFRS 9 is more closely aligned with bank supervision, incorporates earlier and larger impairment allowances, and thus, is likely to...

This paper examines the interaction of the IFRS 9 expected credit loss model with supervisory rules and discusses potential implications for financial stability. IFRS 9 is more closely aligned with bank supervision, incorporates earlier and larger impairment allowances, and thus, is likely to...

We examine how information disclosures from private firms affect analysts’ public firm earnings forecasts. On one hand, private firm disclosures allow analysts to better understand industry-wide business conditions, enabling them to forecast the peer public firm earnings more accurately. On...

Using a comprehensive sample of cross-country mergers and acquisitions for the period 2000 to 2014 we examine the effect of common auditors on the efficiency of cross-country M&A transactions. We predict that the use of common auditors reduces uncertainty, resulting in higher M&A efficiency. We...