The Value Relevance of Financial Statement Recognition vs. Disclosure: Evidence from SFAS No. 106
研究市场是否对财务报表中确认的数据与仅披露的数据给予不同估值，以229家采用SFAS第106号的公司为样本，发现确认的退休后福利负债比披露的负债在市值关联测试中权重更高。
This study examines whether the market values financial statement data differently if it is disclosed instead of recognized in the body of the financial statements. We identify a sample of 229 SFAS No. 106 adopters who disclose an estimate of their anticipated liability for retiree benefits other than pensions (PRB) in their financial reports prior to the year of recognition. We then test whether the disclosed estimate of the PRB liability is valued differently by the market than is the subsequently recognized PRB liability. We provide modest and model-sensitive evidence that the recognized PRB liability receives more weight than the disclosed liability in market value association tests.