Value relevance of unrealised gains and losses on non-agency securities
by Sukyoon Jung
International Journal of Banking, Accounting and Finance (IJBAAF), Vol. 5, No. 4, 2014

Abstract: In this paper I examine the value relevance of unrealised gains/losses on non-agency securities owned by bank holding companies and how this valuation property may have changed in the recent crisis period. I find value relevance of these unrealised changes, but only in the crisis period. This implies that market investors consider these fair value revaluations useful despite concerns about their reliability as banks are more likely to liquidate these securities in the crisis period. A stronger relation between the unrealised changes and future-realised gains/losses in the crisis period provides economic rationale to the value relevance during this period.

Online publication date: Sat, 31-Jan-2015

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Banking, Accounting and Finance (IJBAAF):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com