Selection of GAAP or RAP in the Savings and Loan Industry.
考察了20世纪80年代初美国储蓄与贷款机构在贷款损失确认上选择监管会计原则（RAP）而非公认会计原则（GAAP）的决策，发现监管约束与公司经济福利的冲突是导致违反GAAP的关键因素。
Abstract ABSTRACT: This study examines the choice of a regulatory accounting principle (RAP) in contrast to generally accepted accounting principles (GAAP) with respect to loan loss recognition in the savings and loan Industry. RAP was permitted by the Federal Home Loan Bank Board for Savings and Loans (S&Ls) In the early 1980s. Many S&L's selected this alternative to GAAP. We examine four factors, conditioned by accounting regulations in the S&L Industry setting, hypothesized to explain the accounting choice. All of the factors ere significant In logistic regression tests in which the choice of RAP or GAAP was the dependent variable. The results are consistent with the conclusion that S&Ls chose to violate GAAP when regulatory constraints induced e conflict between GAAP requirements and the economic welfare of the firm.