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dc.contributor.authorHanley, KW
dc.contributor.authorJagolinzer, AD
dc.contributor.authorNikolova, S
dc.date.accessioned2018-03-27T14:59:54Z
dc.date.available2018-03-27T14:59:54Z
dc.date.issued2018-08
dc.identifier.issn0165-4101
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/274430
dc.description.abstractWe examine whether fair value (FV) input levels and estimation sources are related to FV inflation, the difference between an insurer’s FV estimate and the consensus FV estimate across the security’s holders. FV inflation is higher, and self-estimation more likely, when insurers report using Level 3 inputs when the consensus level is 2. Regardless of the level, FV is greater when self-estimated. Public insurers that inflate FV through self-estimation potentially obfuscate detection by reporting the use of Level 2 inputs. Insurers with stronger incentives to appear financially healthy choose to self-estimate, resulting in greater aggregate portfolio FV inflation.
dc.publisherElsevier
dc.titleStrategic estimation of asset fair values
dc.typeArticle
prism.endingPage45
prism.issueIdentifier1
prism.publicationDate2018
prism.publicationNameJournal of Accounting and Economics
prism.startingPage25
prism.volume66
dc.identifier.doi10.17863/CAM.21555
dcterms.dateAccepted2018-01-18
rioxxterms.versionofrecord10.1016/j.jacceco.2018.01.004
rioxxterms.versionAM
rioxxterms.licenseref.urihttp://www.rioxx.net/licenses/all-rights-reserved
rioxxterms.licenseref.startdate2018-08
dc.identifier.eissn1879-1980
rioxxterms.typeJournal Article/Review
cam.issuedOnline2018-01-31
cam.orpheus.successThu Jan 30 13:00:05 GMT 2020 - Embargo updated
rioxxterms.freetoread.startdate2020-01-01


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