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Gerçeğe uygun değer muhasebesi finansal krizlerin sebebi mi yoksa habercisi mi?
(İnönü Üniversitesi İktisadi ve İdari Bilimler Fakültesi, 2009) Parlakkaya, Raif; Çetin, Hüseyin
The recent financial crisis has led to a major debate on fair value accounting(FVA). Did FVA play an important role in the recent crisis? Many critics have argued that FVA has significantly contributed to the financial crisis. In this study, the relation between fair value and financial crisis is analyzed. FVA has the pro-cyclical feature. FVA did not cause the financial crisis but have fuelled it and intensified its impact. FVA is not the culprit, fair value measurement’s application and the economic meaning have no problems, but the method of operation based on the non-fair market price to determine the fair value in practice, fuelled effects to the financial crisis. In our study, we try to underline the question of whether the FVA is a contributor or a messenger. It is understood that FVA is not the main contributor of the financial crisis but it is called as the messenger of the crisis and in this respect it just intensifies the severity of the crisis.