Accounting Discretion of Banks During a Financial Crisis.

This paper shows that banks use accounting discretion to overstate the value of distressed assets. Banks' balance sheets overvalue real estate-related assets compared to the market value of these assets, especially during the U.S. mortgage crisis. Share prices of banks with large exposure to mo...

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Bibliographic Details

Online Access:	Full Text (via ProQuest)
Main Author:	Laeven, Luc
Other Authors:	Huizinga, Harry
Format:	eBook
Language:	English
Published:	Washington : International Monetary Fund, 2009.
Series:	IMF working paper (Online)