商业模式监管对传统绩效指标价值相关性的影响。一些证据来自英国公司

IF 2.3 Q2 BUSINESS, FINANCE
Lorenzo Simoni, L. Bini, Francesco Giunta
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引用次数: 1

摘要

世界上第一个强制要求在年度报告中披露商业模式(BM)的案例是英国颁布的《2013年公司法》(Companies Act 2013)。BM提供了公司关键资源的简化表示,以及如何将这些资源组合起来创造价值。因此,对账面价值的系统性沟通应该会影响人们对公司账面价值和盈利能力的认知。这项工作的目的是调查强制BM披露对传统财务指标的价值相关性的影响。本文以英国上市公司为样本,利用Ohlson模型评估账面价值和净收入的价值相关性,以及它们与虚拟变量的相互作用,该虚拟变量解释了强制披露账面价值的引入。与以往对非财务披露法规的研究一致,结果表明,强制要求BM的引入对权益账面价值具有负向调节作用,对净收入具有正向调节作用。由于这是第一项调查强制性资产管理披露制度影响的研究,它可能会引起学术界和标准制定者的兴趣。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
The effects of business model regulation on the value relevance of traditional performance measures. Some evidence from UK companies
The first case in the world of a mandatory requirement to disclose business model (BM) in the annual report is represented by Companies Act 2013 issued in the UK. The BM offers a simplified representation of a company's key resources and of how these are combined to create value. For this reason, a systematic communication of BM should affect the way a company's book value and its capability to generate earnings are perceived. The purpose of this work is to investigate the impact of mandatory BM disclosure on the value relevance of traditional financial measures. Focusing on a sample of UK listed companies over a six-year period, Ohlson model is utilized to assess the value relevance of book value and net income and their interactions with a dummy variable that accounts for the introduction of mandatory disclosure of BM. In line with previous studies on non-financial disclosure regulations, results show that the introduction of the mandatory requirement to disclose BM has a negative moderating effect on book value of equity and a positive moderating effect on net income. As this is the first study to investigate the effects of a mandatory BM disclosure regime, it could be of interest for both academics and standard-setters.
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来源期刊
Journal of Financial Reporting
Journal of Financial Reporting BUSINESS, FINANCE-
自引率
6.70%
发文量
19
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