Fair Value Accounting is the Wrong Scapegoat for this Crisis

By Nicolas Véron. 2008

126 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

The crisis of fair-value accounting: Making sense of the recent debate (2009, background): “it merely played the role of the proverbial messenger that is now being shot (e.g., Turner, 2008; Veron, 2008).”
Is Historical Cost Accounting a Panacea? Market Stress, Incentive Distortions, and Gains Trading (2015, background): “12 See Veron (2008), and Bleck and Liu (2007) for an opposing view.”
Fair Value Accounting and the Banking Crisis in 2008: Shooting the Messenger (2009, background): “From then on, in order to maintain their solvency ratio, the banks had to raise extra capital in conditions where the market was going down rapidly or were obliged to reduce their new lending, a disastrous policy in an economically depressed context (Véron, 2008).”
The global audit profession and the international financial architecture: Understanding regulatory relationships at a time of financial crisis (2009, background): “This imbalance is well illustrated by the debate over fair value, which has focused on whether it is partly to blame for the crisis (e.g., see Cherry, 2009; Johnson, 2008; Ryan, 2008; Véron, 2008) rather than on the problems of auditing fair value, despite the issue of a number of audit practice ale”