主讲人：加利福尼亚大学伯克利分校 张晓君教授
主题：Predictable OCI and Mispricing of Bank Stocks
主持人：金融学院 周玮老师
时间：12月24日（星期四）下午14:30——16:30
地点：柳林校区 格致楼 411教室
主办单位：西部商学院 科研处
摘要:
We examine a feature of accounting for available-for-sale debt securities wherein unrealized gains and losses (UGL) are recognized based on fair values, while interest income is based on historical cost. We show that the time-series properties of these UGL are determined by the mix of these accounting treatments; the negative correlation between accumulated UGL in the current period and next period UGL is predictable and economically and statistically significant. We show that: (1) this negative correlation explains a previously unexplained negative correlation in other comprehensive income (OCI); and, (2) investors seem to price the total amount of UGL disregarding (or not realizing) the fact that reported UGL includes a predictable, accounting-driven component.
主讲人简介：
张晓君教授现任加利福尼亚大学伯克利分校会计学讲席教授、伯克利大学哈斯商学院金融报告与管理中心主任、上海高级金融学院会计学特聘教授，美国会计准则委员，Review of Accounting Studies和The Accounting Review编委。同时担任Contemporary Accounting Research, Journal of Accounting and Economics, Journal of Accounting Research, Review of Accounting Studies, The Accounting Review等国际顶级期刊的审稿人。于马里兰大学帕克分校获得经济学硕士学位，于哥伦比亚大学商学院获得博士学位。其研究领域涵盖财务会计理论、国际会计等。张晓君教授有二十余篇论文发表在The Accounting Review The Accounting Review，Journal of Financial Economics, Journal of Accounting and Economics，Journal of Accounting Research, Management Science, Contemporary Accounting Research，Review of Accounting Studies等国际顶级期刊。
