Introduced in late-2007, SFAS 157 redefined existing accounting standards concerning fair value accounting and significantly impacted financial reporting for financial institutions. Prior studies, using larger samples of financial firms, have concluded that Level 3 fair values (the most opaque and subjective fair values) were heavily discounted by the market. Consistent with prior studies, this...

the main focus in this study is on data pre-processing, reduction in number of inputs or input space size reduction the purpose of which is the justified generalization of data set in smaller dimensions without losing the most significant data. in case the input space is large, the most important input variables can be identified from which insignificant variables are eliminated, or a variable ...