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Market Risk Reporting by the World’s Top Banks: Evidence on the Diversity of Reporting Practice and
Year Of Publication: 2009
Month Of Publication: January
Pages: 37
Download Count: 15
View Count: 1646
Comment Num: 0
Language: English
Who Can Read: Free
Date: 3-13-2010
Publisher: Administrator
Summary
The increasing adoption of international accounting standards and global convergence of accounting regulations is frequently heralded as serving to reduce diversity in financial reporting practice. In a process said to be driven in large part by the interests of international business and global financial markets, one might expect the greatest degree of convergence to be found amongst the world’s largest multinational financial corporations.
This paper challenges such claims and presumptions. Its content analysis of longitudinal data for the period 2000-2006 reveals substantial, on going diversity in the market risk disclosure practices, both numerical and narrative, of the world’s top-25 banks. The significance of such findings is reinforced by the sheer scale of the banking sector’s risk exposures that have been subsequently revealed in the current global financial crisis. The variations in disclosure practices documented in the paper apply both across and within national boundar
Author(s)
Woods, Margaret Sign in to follow this author
Dowd, Kevin Sign in to follow this author
Humphrey, Chris G. Sign in to follow this author
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