Does disaggregation of fair value information increase the value relevance of the fair value hierarchy? |
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| Institution: | 1. Institute for Financial and Accounting Studies, Xiamen University, Xiamen, Fujian 361005, China;2. School of Management, Xiamen University, Xiamen, Fujian 361005, China;1. University of Wyoming, USA;2. Virginia Commonwealth University, USA;3. West Virginia University, USA |
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| Abstract: | In response to pressures from Congress, the SEC and investors, the FASB issued ASU 2010-06, Improving Disclosures about Fair Value Measurement. ASU 2010-06 mandates that firms provide disaggregated fair value information by class of financial instruments under each level of the fair value hierarchy. Using financial statements of publicly traded banks for the first quarters of 2009 and 2010, this study examines whether providing class-level information increases the value relevance of the fair value hierarchy. In support of our hypothesis, we find that fair value relevance increases under ASU 2010-06. |
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