Premium Essay

Scholarly Journal

In:

Submitted By wzady
Words 10384
Pages 42
Marking-to-Market: Panacea or Pandora’s Box?
Guillaume Plantin
London Business School

Haresh Sapra
University of Chicago GSB

Hyun Song Shin
Princeton University
August 13, 2007

Abstract
Financial institutions have been at the forefront of the debate on the controversial shift in international standards from historical cost accounting to mark-to-market accounting. We show that the trade—o s at stake in this debate are far from one-sided.
While the historical cost regime leads to some ine ciencies, marking to market may lead to other types of ine ciencies by injecting artificial risk that degrades the information value of prices, and induces sub—optimal real decisions. We construct a framework that can weigh the pros and cons. We find that the damage done by marking to market is greatest when claims are (i) long—lived, (ii) illiquid, and (iii) senior. These are precisely the attributes of the key balance sheet items of banks and insurance companies. Our results therefore shed light on why banks and insurance companies have been the most vocal opponents of the shift to marking to market.

We are grateful to both our editor, Ray Ball, for his advice and comments and to an anonymous referee for many useful comments. We also thank participants at the 2007 Journal of Accounting Research conference as well as participants in various seminars, and, in particular, Doug Diamond, Ron Dye, Xavier Freixas,
Milt Harris, Charles Goodhart, Raghu Rajan, Rafael Repullo, Jean-Charles Rochet, and Lars Stole for their comments. Catherine Xu provided excellent research assistance. Sapra acknowledges Financial Support from the FMC Faculty Research Fund at the Graduate School of Business, the University of Chicago. Shin acknowledges support from the United Kingdom Economic and Social Research Council under its World
Economy and Finance Programme.

1

Similar Documents

Premium Essay

Scholarly Journal Article Analysis

...By the common definition a Scholarly Journal Article is a substantial work of scholarship published in a scholarly journal following a formal process of peer review.(3) The article is based on the particular research, that has been completed. It has a clear structure with such elements: abstract, introduction, method and materials of the research, results, discussion of the research and references (1). Target audience of Scholarly Journal Articles is limited. It is another scientists, the interested students. As opposed to Scholarly Journal Article, Popular Magazine Article is a periodic publication containing pictures and stories and articles of interest to those who purchase it or subscribe to it(2).They are written by the people who do not have any specialty or higher education degree. The...

Words: 469 - Pages: 2

Premium Essay

Scholarly Journal

...Scholarly Journal Criminology Theory October 16, 2012 Scholarly Journal The growing figures of women implicated in the criminal-justice system and the shortage of programs and assistance that are equipped toward their necessities has encouraged criminal justice experts to investigate their sanctioning and oversight procedures in terms of gender. However, there is additionally comprehensive information concerning the attributes of women in prisons and jails, there are considerably fewer facts on female delinquents in community correctional environments. The failure of mature females in criminal-justice investigation has been substantiated on the grounds that they report for only a short fraction of apprehensions and move fewer delinquencies than males. This explanation disregards the fact that, adult females who do register in the justice system, while fewer other and less vicious than their male counterparts, generally come to be extensive users of the system. In concentrating on the devastating quantity of males in the criminal and juvenile justice organizations programs, procedures and services usually fall through to produce a mixture of options for conducting with the gender and culturally specific complications of female offenders implicated in the system. For Gottfredson and Hirschi, transgression can generally be diminished to “acts of force or fraud undertaken in pursuit of self-interest,” which is speculative of both cross-cultural and reforming authentic interpretations...

Words: 1729 - Pages: 7

Premium Essay

Critique of a Scholarly Journal

...Critique of a Scholarly Journal Fields, Barry (2012) Getting the balance right: The challenge of balancing praise and correction for early school years children who exhibit oppositional and defiant behaviour. Australasian Journal of Early Childhood, 37(4), 24-29. Topic/Purpose: The purpose of this article was to investigate how schools that have implemented a School Wide Positive Behavior Support (SWPBS) approach are balancing praise and correction for early school years children who exhibit oppositional defiant behavior (ODB). The author’s hypothesis is that the students that display ODB would have greater opportunities for praise and reward when exhibiting appropriate behavior given the SWPBS environment. Main Ideas/Concerns: With more children in early childcare settings exhibiting oppositional defiant behavior it becomes more challenging to create a nurturing and supportive learning environment. Early intervention is more than likely to yield a positive outcome for many developmental problems. Behavior improvement interventions have been found to be more effective when implemented across multiple settings. For pre-school and early childhood students, the most important settings for those interventions are the home and school (or childcare center). However the number of parents that incorporate any level of intervention in the home setting is unknown. Traditionally schools have focused...

Words: 619 - Pages: 3

Premium Essay

Bba340

...Grade Assessment and Feedback Marking Guide Assessment Task: Specialist Essay Unit Code: MKTG207 Student Name: Assessor Name: Date: General Standards as Applied to this Assignment High Distinction 85-100% Distinction 75-84% Credit 65-74% Pass 50-64% The student demonstrates the competencies in Distinction standard and in addition demonstrates; • Insightful and comprehensive identification and discussion of key scholarly literature concerning the specialist marketing topic. • Advanced understanding and integration of the relevant marketing theory. • Advanced capacity to use insights to critically appraise literature, ideas and arguments, draws well-supported conclusions. • The work has been written, referenced and presented to an exemplary academic standard, and presents a compelling and effective argument/discussion. The student demonstrates the competencies in Credit standard and in addition; • Demonstrates selectivity and uses judgement in determining the importance of readings and ideas. • Develops a progressive, convincing, and clear argument throughout the work. • Shows evidence of wide reading and synthesis of ideas. • Demonstrates capacity to evaluate and critically appraise literature, ideas and arguments, draw appropriate conclusions and apply relevant theory. • The work has been written and presented to a high academic standard, and presents a coherent argument. The student demonstrates the competencies in Pass standard...

Words: 685 - Pages: 3

Free Essay

Hello

...the course presentation on research. You must review this material before beginning the assignment. Overview: You will locate, evaluate, and cite an article for a pretend research paper. While you will not need to write an actual paper, you will need to demonstrate your ability to conduct a search on the Jerry Falwell Library website, evaluate an article for quality and credibility, and cite your sources with integrity. Instructions: In this assignment, you will: * Choose a topic to research from the options in Step 1. * Search for and locate an appropriate article for your paper. Your article must be: * Appropriate for writing a paper on the chosen topic (relevant). * Written by a credible author. * Scholarly in nature. * Current for the field of research—in this instance, no more than 5 years old. * Objectively written. * Evaluate your article for quality and credibility. * Cite your source with integrity. ------------------------------------------------- Follow the steps below and record your responses to each question in the space provided. ------------------------------------------------- ------------------------------------------------- Note: Your score for this assignment is based on your accurate evaluation of your chosen article, not on meeting the criteria of the pretend research paper. Do not change articles if you find that yours is deficient on some point. Instead, perform a thorough evaluation of the...

Words: 1143 - Pages: 5

Free Essay

The Impact of Poverty

...Achievement Pamela McLean Prof. Robyn Eackloff ENG 315 Professional Communications May 15, 2014 The report plan that I will be working on is The Impact of Poverty on Academic Achievement. In this report you will find the following information listed below: 1. Identify the recipient of the report. The recipient of this report would be Georgia Department of Education. 2. Identify the topic of the report. The topic of this report is The Impact of Poverty on Academic Achievement. 3. Identify the purpose of this report. The purpose of this report is to show 4. Identify potential resources that will be needed for support. The potential resources needed for this report will be books, newspaper articles, personal communication, scholarly journals, reliable website and the Strayer University Library. 5. Identify methods to be used to gather information. The methods that will be used to gather information will be research on the internet, survey and questionnaires, and maybe direct communication with a person in education on the principal level. 6. Identify criteria to be used to evaluate the information collected. The factors that I will use to make a recommendation would be the accuracy of the information I have gathered. Also it would be the currency of the information to make sure that the information is current. Also the objectivity of the information. How detailed is the information collected? And the authority of the information to make sure that the person giving...

Words: 253 - Pages: 2

Free Essay

Documenting Source

...Documenting Sources Documenting means showing where you got source information that's not your own. Remember, a research paper blends your ideas with ideas and information from other sources. Documentation shows the reader what ideas are yours and what information and ideas you've taken from a source to support your point of view. Why Document? * By correctly documenting, you establish your credibility as a writer and researcher. You're letting your reader know that you've consulted experts whose ideas and information back up your own thoughts and ideas. Consequently, you make your viewpoint or argument more believable. * When you don't document correctly, your academic integrity can be called into question, because it may seem as though you're passing off others' ideas as your own. * If you don't document, you could inadvertently plagiarize, which is grounds for dismissal from college. Academic Integrity Academic integrity involves not only acknowledging your sources, but also creating your own ideas. Academic integrity, explained in this way, sounds relatively simple. But the particular applications are a bit more tricky. The most common academic integrity problems that most students encounter are: 1. relying too heavily on others' information in a research paper 2. relying too heavily on others' words in a paraphrase or summary 3. citing and documenting sources incorrectly 4. relying too heavily on help from other sources The most egregious...

Words: 726 - Pages: 3

Free Essay

Why Is the Scholarly Style so Different

...Why Is the Scholarly Style So Different? Raluca S. Buciuc Glion Institute of Higher Education September 14, 2014 Why Is the Scholarly Style So Different? This work paper has the main purpose to analyze an academic article on a management topic and identify the way the author represents its ideas in a scholarly style. The chosen article is “Understanding and Managing the Generational Differences in the Workplace” written by Kapoor C. and Solomon N and published in Worldwide Hospitality and Tourism Themes journal in 2011. In order to complete the analysis, the work paper resume the article and its findings, identify its value and main purpose and analyses its writing manner from the point of view of the scholarly style requirements, in comparison with other writing styles. Summary and Findings In “Understanding and Managing the Generational Differences in the Workplace” article Kapoor and Solomon (2011) treat one of the most sensitive issues of today managers: how to understand, treat and motivate their employees in order to maximize their productivity. In doing so, the authors of the paper advise the managers to pay attention to the individuality of their employees starting from the generational differences. They identify four different generations in most of the demographic structures of the companies today: Traditionalists, Baby Boomers, Generation X and Generation Y. Simon (as cited by Kapoor & Simon, 2011) states that “every generation is influenced by the economic...

Words: 2641 - Pages: 11

Free Essay

Teacher Assessments

...As a teacher it is your responsibility to not only present new material to the student but to teach them and to verify and monitor what information they are actually obtaining and processing. There are many forms of assessments that teachers can use to evaluate students understanding of lesson material. I will suggest a few methods that I will use in my secondary education mathematics classroom. The first strategy of monitoring I will discuss will be quizzes. There are multiple advantages for this form of testing. First, is that it easily produces recorded data. I can quickly grade multiple choice questions and record the students’ grade. Being able to record this grade will allow me to present scores to the parents when I am asked for a student’s progress. Another advantage to a quiz is the ability to assess both the entire class and each individual’s understanding on a topic. I will be able to look at the overall measurement and decide whether there is a need to review the topic or lesson, or if the class is ready to advance in the given studies. Also, by presenting multiple quizzes through the term the students and I can create a set format, which can help ease classroom anxiety. Another form of monitoring students’ progression through a lesson is homework. Homework can be one of the most effective methods for tracking mathematical progress. Assigning, collecting and grading homework can be a very timely way to gather information on how each student is progressing through...

Words: 1003 - Pages: 5

Free Essay

Journals and Scientific Docs

...Journals and Scientific Documents The purpose of journals and professional papers is to inform the public on a specific subject matter. These writings relate directly to a broad spectrum dependent on the edition or publication specifics. Of professional papers, several types can provide a scope of information and credibility toward a purveyance of technical or detailed information. The structure is usually even flowing and organized with particular information segments set out about the constituency of the writing. These papers, intended for publication in special interest journals, enhance the writers research, writing, and documentation capabilities as some of the information, not being his/her own will need to be accredited as if it is not, than plagiarism will be extrapolated. Journals, usually published by or for a particular subject matter or client, are detailed and accurate. There may be a UCLA journal, National Geographic Journal, or even a mechanic’s journal. The particulars of this, geared toward a particular audience and each entry, will usually comprise two titles sharing a general viewpoint for the nonprofessional and an entry specific title for the professional. The purpose of journals is to inform a group or individual of the credible elements related to a curriculum or scientific, professional, or academic scope. The writings or information in a journal may be composed of professional papers but the opposite is not the same. ...

Words: 583 - Pages: 3

Free Essay

Difference Between Journals and Diaries: -

...Difference between journals and diaries:- The difference between a diary and a journal is that a diary is where you can write down what happened during the day and keep a record of stuff. A journal is to write your own personal feelings in, and things that happened, and how they happened. A diary is a report of what happened during the day—where you ate, who you met, the details that what was happened in the office, and who took whose side. It is a like a newspaper about you. A journal is completely different. A journal is about examining your life. It’s a GPS system for your spirit. Journals lead to insight, growth, and sometimes, achieving a goal. You can keep a journal in anything that feels comfortable and that’s portable–a spiral notebook, a bind book you have put together with lokta paper, index cards held together with a rubber band. You can use a computer; keep a blog, although that doesn’t work as well for me. But things on the internet are simply not private, password protected or not. To keep a journal on paper, pick a time of day to write. Keep it regularly. It makes it easier. Try that you didn’t stuck to an exercise program because then it can nailed it into schedule at a certain time. Writing works the same way. First thing in the morning, last thing at night, while eating lunch at your desk. Write with a good pen that feels good and whose color you like. In the beginning, you may have to set a time limit. Three minutes is good. Just write whatever comes...

Words: 593 - Pages: 3

Premium Essay

Relationship Essay

...goals.These moments that I share in this special relationship shape me to grow from the past and prepare for the future. Unfettered,capabilities to share my innermost thoughts allowed captivated watch as I begin to blossom into a mature strong being able to stand back and marveled as the story unfolded. A connection so powerful that others long for the ability to have their words caressed and accepted. My aptitude to cope with the grind of life increased as the pages filled up. The ivory shelf above my bed cradled the secret books housing the foundation of character built over the years, strengthen by an everlasting, unbreakable, and irreplaceable bond.Each page of my journal is a connection that provides me with the ability to purge, enhances personal growth, and tells the world my story. Writing in a journal is a means to purge. The remembrance of hastening home knowing that serenity would come once Iexpelled the battle rampant in my head, enabled me to function and endure long hours bursting with the bile of sentiments blaring for discharge.When reflecting...

Words: 957 - Pages: 4

Premium Essay

Autobio

...Since the very beginning of my days as a student, I have despised literature. English has always been a subject that I dreaded. I do not loathe literature solely for my lack of writing skills, because I do enjoy reading, rather it’s the fact that I tend to lose my train of thought while writing an essay or while brainstorming an idea I want to address. I struggle with organizing my thoughts and making concise relationsHIPS[?][CONNECTIONS?] between literary texts and the assignments given by my teachers. The only time I do enjoy writing is when I can write freely in my journal. By writing in a journal, I do not worry about the grammar and organized aspect of writingCOMMA and it clears my mind. I find that I am able to write what I feel [easier ]MORE EASILY in my private journal versus writing an essay that will be graded. [NICE INTRO – CONTRARY TO YOUR TITLE, THIS SEEMS AS THOUGH IT’S GOING TO BE ABOUT YOUR JOURNAL WRITING VS. ACADEMIC WRITING, NOT GRAMMAR? ALSO, YOU NEED TO GET RID OF THIS EXTRA LINE BETWEEN PARAGRAPHS.] During [my ]seventh grade, in middle school, I had a very tough English teacher. Mrs. Carson was a very nice person outside of class[,]SEMI-COLON howeverCOMMA her toughness really displayed itself when she graded papers. Her main focus[ed] was grammar and clean organization rather than THE ideas of the topic. The entire year I struggled with her; each assignment I struggled to form my papers the way she would want and failed to remember the grammar rules and...

Words: 1059 - Pages: 5

Free Essay

Family Dynamics

...The Dynamics of Writing and Family “Most successful men have not achieved their distinction by having some new talent or opportunity presented to them. They have developed the opportunity that was at hand." -- Bruce Fairchild Barton, advertising executive and congressman Uncle would say, "There are certain inalienable truths you must accept." So when I raged about Atheists being disqualified for holding office in Arkansas or how it's illegal to carry a bible in Singapore, he'd say, "Write it down. Let it out." I've filled four journals. On an idle Thursday, when my mind was free of frustration, I read the crumpled, yellowed pages of my black leather journal and saw a natural progression from black to color. I had precisely captured all my experiences, but in an entirely aesthetic way. From then on, every time I opened my journal, I found myself in an unfamiliar environment writing to capture a mood or scene with creative language. It was my therapeutic getaway from reality. In the summertime, every Sunday, after taking a rattling cold bus, two smoky, humid subway trains, and picking up the best peanuts on 114th street, I would arrive at Riverside Park, New York. I wrote at least one piece every time I was there and shared my work with the same old man who perused the New York Times and the same skinny college student who sunbathed in her bikini. After noting any criticism they gave, I would return home, edit and embellish each piece. ...

Words: 1273 - Pages: 6

Premium Essay

Ghost Ghost

...How to Find Specific Journal Articles: (by Mark James) This is a step-by-step guide to finding specific research articles that you have been given the complete reference for (e.g. for seminar readings listed on Moodle, or for articles cited in lectures). To find articles when you do not have a full reference for (e.g. when you’re looking for research on a topic/theory/model generally) please refer to the slide “Finding Sources” of the Study Skills slides provided on Moodle. All seminar readings are available to download via the University of Kent library website using the following steps. Example - how to find: Poropat, A.E. (2009). A meta-analytic analysis of the five-factor model of personality and academic performance. Psychological Bulletin, 135 (2), 322-38. Step 1: Go to http://www.kent.ac.uk/library/ - click ‘Search for journals” and enter title of the journal (e.g. Psychological Bulletin) here: Step 2: Click on one of the search results: Some journals are accessible through multiple providers (e.g. PsycARTICLES, Academic Search Complete, Wiley-Blackwell Full Collection), with varying levels of access. Check the date of the article you’re searching for was published and select a provider which holds the journal published that year. Step 3: A new window will pop up, and you will be asked to input your Kent username and password. Once provided you will be taken to the journal providers website. Select the year the reading was published (e.g. 2009)...

Words: 289 - Pages: 2