Voluntary Fair Value Disclosures Beyond SFAS 157’s Three-level Estimates

• Main Authors: CHUNG, Sung Gon, GOH, Beng Wee, NG, Jeffrey, OW YONG, Kevin
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2017
• Subjects: Fair value accounting; SFAS 157; voluntary disclosure; controls; information risk; Accounting; Corporate Finance
• Online Access: https://ink.library.smu.edu.sg/soa_research/1056; https://ink.library.smu.edu.sg/context/soa_research/article/2055/viewcontent/VoluntaryFairValueDisSFAS157_2016May_afv.pdf
• Institution: Singapore Management University

Some firms voluntarily make disclosures about the controls and processes in place to ensure the reliability of fair value estimates. Consistent with these disclosures being driven by management’s concerns about the reliability of their SFAS 157 estimates, we find that firms with more opaque estimate...