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The value relevance of the fair value hierarchy of FAS 157

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Item Summary

dc.contributor.author Wen, Eric Chih-ming
dc.date.accessioned 2016-02-19T22:38:39Z
dc.date.available 2016-02-19T22:38:39Z
dc.date.issued 2012-05
dc.identifier.uri http://hdl.handle.net/10125/101553
dc.description Ph.D. University of Hawaii at Manoa 2012.
dc.description Includes bibliographical references.
dc.description.abstract Financial Accounting Standard (FAS) 157 requires disclosures of the fair value hierarchy (FVH) of assets and liabilities for financial reports issued after November 15, 2007. This dissertation examines the value relevance of the FVH across a set of industry sectors. The results suggest that the FVH is value relevant for all industry sectors. However, although the degree of value relevance varies across industry sectors, the relative amount of assets and liabilities measured at fair value, as a ratio to total assets and liabilities, does not influence the value relevance of the FVH. This study also examines the influence of several other characteristics of firms on the value relevance of the FVH across industry sectors. Its main findings suggest that book-to-market equity and a firm's status (as entering or incumbent) influence the value relevance of the FVH. The dissertation also finds some evidence that a firm's size and firm's status are related and that the firm's size may also influence the value relevance of the FVH. This dissertation is unable to find a clear pattern of the influence of liquidity (as measured by both the quick ratio and cash flow from operations) on the value relevance of the Level 3 fair value of assets across industry sectors.
dc.language.iso eng
dc.publisher [Honolulu] : [University of Hawaii at Manoa], [May 2012]
dc.relation Theses for the degree of Doctor of Philosophy (University of Hawaii at Manoa). International Management.
dc.subject International Management
dc.subject FAS 157
dc.title The value relevance of the fair value hierarchy of FAS 157
dc.type Thesis
dc.type.dcmi Text
Appears in Collections: Ph.D. - International Management


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