The Value Relevance of Fair Value Levels: Time Trends under IFRS and U.S. GAAP

IF 4.6 Q1 BUSINESS, FINANCE
Andrei Filip, Ahmad Hammami, Zhongwei Huang, Anne Jeny, M. Magnan, Rucsandra Moldovan
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引用次数: 6

Abstract

ABSTRACT The IASB's post-implementation review of IFRS 13 Fair Value Measurement motivates our analysis of the evolution of the value relevance of fair value (FV) levels over time on banks that report under IFRS and U.S. GAAP. For both sets of standards, results provide evidence that is consistent with (1) an increase in value relevance across all three FV levels over time, and (2) a convergence of the value relevance of the three FV levels over time. However, FV levels exhibit systematically higher value relevance under U.S. GAAP compared to IFRS. Such gap has closed to some extent since the enactment of IFRS 13. This evolution is likely due to learning about FV accounting and changes in financial reporting regulations that increased disclosure requirements. These findings confirm the IASB's conclusions that FV levels’ disclosure is useful to users of financial statements, but also emphasizes preparers and investors’ learning over time.
公允价值水平的价值相关性:国际财务报告准则和美国公认会计准则下的时间趋势
摘要国际会计准则理事会对《国际财务报告准则第13号——公允价值计量》的实施后审查促使我们分析了根据《国际财务报表准则》和美国公认会计原则报告的银行公允价值水平的价值相关性随时间的演变。对于这两组标准,结果提供的证据与(1)所有三个FV水平的价值相关性随着时间的推移而增加,以及(2)三个FVV水平的价值关联性随着时间的流逝而收敛一致。然而,与《国际财务报告准则》相比,根据美国公认会计原则,公允价值水平系统地表现出更高的价值相关性。自《国际财务报告准则》第13号颁布以来,这种差距已在一定程度上缩小。这种演变可能是由于对公允价值会计的了解以及财务报告法规的变化增加了披露要求。这些发现证实了国际会计准则委员会的结论,即FV水平的披露对财务报表的用户有用,但也强调了编制者和投资者随着时间的推移的学习。
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来源期刊
Accounting in Europe
Accounting in Europe BUSINESS, FINANCE-
CiteScore
5.00
自引率
7.10%
发文量
14
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