Did SFAS 166/167 decrease the information asymmetry of securitizing banks?
研究了2010年实施的SFAS 166/167会计准则对证券化银行信息不对称的影响，发现该准则降低了信息不对称，且更受关注的银行对准则变化不敏感。
Abstract Beginning in 2010, mandated Financial Accounting Standards No. 166 and 167 (SFAS 166/167) changed the consolidation rules of securitization entities and required more information about their securitization activities. I find that securitizing banks experienced a decrease in information asymmetry from the pre‐ to the post‐SFAS 166/167 periods, and that more visible securitizing banks are less sensitive to SFAS 166/167. These inferences are robust to a number of sensitivity analyses. This study is one of the first to provide evidence of the effects of SFAS 166/167 on the information asymmetry of securitizing banks.