Smoothing of Pension Costs, Choice of Expected Rate of Return and Capital Market Consequences

In the second essay, I examine whether or not investors incorporate the actual pension expense based on the marked-to-market principle in firm valuation. Alternatively investors may be fixated on the smoothed pension expense as reported on income statement according to Generally Accepted Accounting Principles (GAAP). I find evidence that investors incorporate the actual pension expense into equity price with some time delay.

Name thesis:degree_name

Ph.D.

Level thesis:degree_level

Dissertation

Discipline thesis:degree_discipline

Accountancy

Grantor

University of Illinois at Urbana-Champaign

Year dc:date

2015

Author dc:creator

• Hong, Keejae P.

Contributors dc:contributor

• Abdel-Khalik, A. Rashad

• Business Administration, Accounting

Language dc:language

eng

Identifier

(MiAaPQ)AAI3250257

OAI identifier oai:identifier

oai:www.ideals.illinois.edu:2142/87161