Perfect the Fair Value Hierarchy in the Financial Crisis
Subprime Mortgage Crisis pushed the fair value accounting to the cusp. The disastrous financial world claimed to suspend the use of the fair value and go back to adopting valuation of historical cost. At first, it is elaborated that the globe financial crisis is an economic problem not an accounting problem in this article. And then,based on FASB and MSBs definition and hierarchy explanation of the fair value, I believe that fair value hierarchy should be divided into three levels according to whether the transaction is in an orderly manner and give specific instructions, Finally, for the future of the fair value, the process producing the fair value should be paid more attention to. Detailing and perfecting the hierarchy theory is the prerequisite of applying the fair value precisely.
the financial crisis the fair value hierarchy irra-tional exuberance orderly transactions procyclical effects capital asset pricing model and arbitrage pricing theory
Chen Zhifang Guan Hanjin
School of Management and Economics, Kunming University of Science and Technology,Kunming, 650093, China
国际会议
烟台
英文
454-457
2010-08-06（万方平台首次上网日期，不代表论文的发表时间）