An investigation of capital market reactions of quoted French banks to pronouncements on IAS 39

Nessrine Ben Hamida ()
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Nessrine Ben Hamida: DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique

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Abstract: This paper examines the impact of fifteen pronouncements related to fair value accounting according to IAS 39 on equity prices of financial institutions. The results document that announcements that signal an increased (decreased) probability of issuance of IAS 39 produce negative (positive) abnormal stock price reactions for sample banks. Further, we demonstrate that the magnitude of the stock price reactions was not related to specific characteristics of sample banks.

Keywords: fair value; IAS 39; volatility; banks (search for similar items in EconPapers)
Date: 2007
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Published in British Accounting Association Conference, 2007, London, United Kingdom

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00151914

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