Matches in SemOpenAlex for { <https://semopenalex.org/work/W1999853634> ?p ?o ?g. }
Showing items 1 to 66 of
66
with 100 items per page.
- W1999853634 abstract "This research studies one specific financial instrument – Mortgage Servicing Rights (MSRs) and examines whether the fair value of MSRs based on managerial inputs (Level 3) has financial reporting characteristics that differ from the fair value of MSRs based on market inputs (Level 2). Since fair value represents discounted future cash flows, we use future mortgage servicing fees as a proxy for future cash flows and measure whether the fair value of MSRs reflects the persistence of future servicing fees. We find that the fair value of MSRs based on managerial inputs (Level 3) better reflects the persistence of future servicing fees compared with the fair value of MSRs based on market inputs (Level 2). We also document that Level 3 fair values have a stronger association with proxies for default risk and prepayment risk. Consistent with conjectures made by Ryan (2008) and Laux and Leuz (2009), our results suggest that, although unobservable inputs are subject to managerial discretions, managers have the potential to generate higher quality fair value estimates than market inputs due to their information advantage, especially when the market for the underlying asset is inactive." @default.
- W1999853634 created "2016-06-24" @default.
- W1999853634 creator A5000098287 @default.
- W1999853634 creator A5047634561 @default.
- W1999853634 date "2012-01-01" @default.
- W1999853634 modified "2023-09-26" @default.
- W1999853634 title "Financial Reporting of Fair Value Based on Model Inputs versus Market Inputs: Evidence from Mortgage Servicing Rights" @default.
- W1999853634 cites W2163392798 @default.
- W1999853634 cites W3121934601 @default.
- W1999853634 cites W3122109196 @default.
- W1999853634 cites W3123103403 @default.
- W1999853634 doi "https://doi.org/10.2139/ssrn.1832606" @default.
- W1999853634 hasPublicationYear "2012" @default.
- W1999853634 type Work @default.
- W1999853634 sameAs 1999853634 @default.
- W1999853634 citedByCount "11" @default.
- W1999853634 countsByYear W19998536342013 @default.
- W1999853634 countsByYear W19998536342014 @default.
- W1999853634 countsByYear W19998536342016 @default.
- W1999853634 countsByYear W19998536342017 @default.
- W1999853634 crossrefType "journal-article" @default.
- W1999853634 hasAuthorship W1999853634A5000098287 @default.
- W1999853634 hasAuthorship W1999853634A5047634561 @default.
- W1999853634 hasConcept C10138342 @default.
- W1999853634 hasConcept C105795698 @default.
- W1999853634 hasConcept C138893092 @default.
- W1999853634 hasConcept C144133560 @default.
- W1999853634 hasConcept C162118730 @default.
- W1999853634 hasConcept C162324750 @default.
- W1999853634 hasConcept C22738907 @default.
- W1999853634 hasConcept C2776291640 @default.
- W1999853634 hasConcept C33923547 @default.
- W1999853634 hasConcept C63149375 @default.
- W1999853634 hasConcept C68799949 @default.
- W1999853634 hasConcept C73283319 @default.
- W1999853634 hasConcept C97330809 @default.
- W1999853634 hasConceptScore W1999853634C10138342 @default.
- W1999853634 hasConceptScore W1999853634C105795698 @default.
- W1999853634 hasConceptScore W1999853634C138893092 @default.
- W1999853634 hasConceptScore W1999853634C144133560 @default.
- W1999853634 hasConceptScore W1999853634C162118730 @default.
- W1999853634 hasConceptScore W1999853634C162324750 @default.
- W1999853634 hasConceptScore W1999853634C22738907 @default.
- W1999853634 hasConceptScore W1999853634C2776291640 @default.
- W1999853634 hasConceptScore W1999853634C33923547 @default.
- W1999853634 hasConceptScore W1999853634C63149375 @default.
- W1999853634 hasConceptScore W1999853634C68799949 @default.
- W1999853634 hasConceptScore W1999853634C73283319 @default.
- W1999853634 hasConceptScore W1999853634C97330809 @default.
- W1999853634 hasLocation W19998536341 @default.
- W1999853634 hasOpenAccess W1999853634 @default.
- W1999853634 hasPrimaryLocation W19998536341 @default.
- W1999853634 hasRelatedWork W143993902 @default.
- W1999853634 hasRelatedWork W1546893796 @default.
- W1999853634 hasRelatedWork W2109133685 @default.
- W1999853634 hasRelatedWork W2282957406 @default.
- W1999853634 hasRelatedWork W2358786366 @default.
- W1999853634 hasRelatedWork W2364780941 @default.
- W1999853634 hasRelatedWork W2394382087 @default.
- W1999853634 hasRelatedWork W2994157312 @default.
- W1999853634 hasRelatedWork W3121385972 @default.
- W1999853634 hasRelatedWork W648788255 @default.
- W1999853634 isParatext "false" @default.
- W1999853634 isRetracted "false" @default.
- W1999853634 magId "1999853634" @default.
- W1999853634 workType "article" @default.