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

Filip, Andrei; Hammami, Ahmad; Huang, Zhongwei; Jeny, Anne; Magnan, Michel; Moldovan, Rucsandra

Document type :

Compte-rendu et recension critique d'ouvrage

DOI :

10.1080/17449480.2021.1900581

Title :

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

Author(s) :

Filip, Andrei [Auteur]
Hammami, Ahmad [Auteur]
Huang, Zhongwei [Auteur]
Jeny, Anne [Auteur]
Lille économie management - UMR 9221 [LEM]
Magnan, Michel [Auteur]
Moldovan, Rucsandra [Auteur]

Journal title :

Accounting in Europe

Pages :

196-217

Publisher :

Taylor & Francis (Routledge)

Publication date :

2021-04-18

ISSN :

1744-9480

English keyword(s) :

Fair value hierarchy
Fair value levels
Fair value measurement
IFRS 13
SFAS 157
ASC 820

HAL domain(s) :

Sciences de l'Homme et Société/Gestion et management

English abstract : [en]

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 ...
Show more >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.Show less >

Language :

Anglais

Popular science :

Non

Collections :

Lille Économie Management (LEM) - UMR 9221

Source :

Harvested from HAL

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