Marking to Market: Panacea or Pandora's Box?

By Guillaume Plantin, Haresh Sapra, Hyun Song Shin. 2008

546 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/ff77f78831be7b29f7670593916d1ed261d33e83

Citations in the corpus

• Fair value accounting: information or confusion for financial markets? (2014, unknown): “Extending the reach of FVA moves financial reporting into uncharted territory on three dimensions (Plantin et al. 2008; Magnan and Markarian 2011).”
• Where the Risks Lie: A Survey on Systemic Risk (2017, unknown): “13 A concrete example is the requirement to mark-to-market trading positions, as studied in Plantin, Sapra, and Shin (2008).”
• Liquidity and Leverage (2010, unknown): “Popular accounts, such as Lowenstein (2000) give a description of the background and personalities.”
• Did Fair-Value Accounting Contribute to the Financial Crisis? (2010, unknown): “In this case, management could be inclined to sell relatively illiquid assets at a price below the fundamental value to pre-empt the anticipated sales of other market participants (Plantin et al., 2008).”
• A Convenient Scapegoat: Fair Value Accounting by Commercial Banks during the Financial Crisis (2012, unknown): “In contrast, Plantin et al. (2008) predict that banks increase selling of the very assets that have declined in value.”
• An Overview of the Crisis: Causes, Consequences, and Solutions (2010, unknown): “FASB (see, e.g., Allen and Carletti 2008a; Plantin et al. 2008).”
• Financialisation and the Conceptual Framework (2014, unknown): “…financial assets (such as securitised assets, swaps and collateralised debt obligations) are thought to be readily available in active markets8 (Plantin et al., 2008), other research indicates that financial assets can be overstated by market valuations (Ackermann, 2009; Christensen and…”
• Amplification Mechanisms in Liquidity Crises (2009, unknown): “Plantin, Sapra, and Shin (2008) build on this observation in analyzing the costs and benefits of “mark to market” accounting rules.”
• Is Historical Cost Accounting a Panacea? Market Stress, Incentive Distortions, and Gains Trading (2015, unknown): “Thus, using the terminology in Plantin et al. (2008) “in such an environment, prices drive measurement, but measurements have an impact on pricing.””
• Market pricing of banks’ fair value assets reported under SFAS 157 since the 2008 financial crisis (2015, unknown): “support for the argument that liquidity concerns are one factor driving investors’ pricing of the fair value reported by the banks (Allen and Carletti, 2008; Plantin et al., 2008).”
• The pros and cons of regulating corporate reporting: A critical review of the arguments (2010, unknown): “Several influential papers describe dynamics by which fair value accounting can drive contagion effects and amplify balance sheet changes, which in turn drive pricing patterns in financial assets that amplify financial cycles (Plantin et al., 2008a, 2008b; Adrian and Shin, 2009).”
• Market Pricing of Banks’ Fair Value Assets Reported under Sfas 157 During the 2008 Economic Crisis (2009, unknown): “10 There is evidence in the literature that managers exercise their discretion when providing estimates. For example, Hodder, Mayew, McAnally and Weaver (2006) find that managers use their discretion to bias valuation model inputs when estimating employee stock options.”