Per citar aquest document:
Cross-country differences in disclosure quality : a study of fair value disclosures by european real estate companies
Sundgren, Stefan
Mäki, Juha
Somoza López, Antonio
Universitat Autònoma de Barcelona. Departament d'Empresa

Publicació: Universitat Autònoma de Barcelona. Departament d'Economia de l'Empresa 2013
Descripció: 48 p.
Resum: Companies are under IAS 40 required to report fair values of investment properties on the balance sheet or to disclose them in the notes. The standard requires also that companies have to disclose the methods and significant assumptions applied in determining fair values of investment properties. However, IAS 40 does not include any illustrative examples or other guidance on how to apply the disclosure requirements. We use a sample with publicly traded companies from the real estate sector in the EU. We find that a majority of the companies use income based methods for the measurement of fair values but there are considerable cross-country variations in the level of disclosures about the assumptions used in determining fair values. More specifically, we find that Scandinavian and German origin companies disclose more than French and English origin companies. We also test whether disclosure quality is associated with enforcement quality measured with the “Rule of Law” index according to Kaufmann et al. (2010), and associated with a secrecy- versus transparency-measure based on Gray (1988). We find a positive association between disclosure and earnings quality and a negative association with secrecy.
Drets: L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons: Creative Commons
Llengua: Anglès.
Col·lecció: Documents de treball
Col·lecció: Document de treball (Universitat Autònoma de Barcelona. Departament d'Economia de l'Empresa) ; 13/7
Document: workingPaper
Matèria: Comunicació en l'empresa

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48 p, 359.2 KB

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