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2018-03

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Si us plau utilitzeu sempre aquest identificador per citar o enllaçar aquest document: https://hdl.handle.net/2445/128247

Analyst Coverage, Market Liquidity and Disclosure Quality: A Study of Fair-value Disclosures by European Real Estate Companies Under IAS 40 and IFRS 13

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Recurs relacionat

https://doi.org/10.1016/j.intacc.2018.02.003

Resum

Disclosures in notes have been criticized by practitioners for being unwieldy and contributing little to the quality of the financial information. This study presents evidence on the association between disclosure quality, analyst following and liquidity in the real estate sector. More spe- cifically, we study the disclosure of the methods and significant assumptions applied in de- termining fair values of investment properties under IAS 40 and IFRS 13. We find that disclosure quality is significantly higher under IFRS 13. Furthermore, we show that the quality is associated with analyst following and bid-ask spreads. However, the improved disclosures following the adoption of IFRS 13 are not associated with any significant positive economic consequences. This result indicates that the revised disclosure requirements in IFRS 13 did not solve any market imperfections.

Matèries

Liquiditat (Economia), Divulgació científica, Garantia de qualitat, Negocis immobiliaris, Inversions

Matèries (anglès)

Liquidity (Economics), Science news, Quality assurance, Real estate business, Investments

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Articles publicats en revistes (Empresa)

Citació

SUNDGREN, Stephan, MÄKI, Juha i SOMOZA LÓPEZ, Antonio. Analyst Coverage, Market Liquidity and Disclosure Quality: A Study of Fair-value Disclosures by European Real Estate Companies Under IAS 40 and IFRS 13. International Journal of Accounting. 2018. Vol. 53, núm. 1, pàgs. 54-75. ISSN 0020-7063. [consulta: 7 de maig de 2026]. Disponible a: https://hdl.handle.net/2445/128247

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