Mandatory Fair Value Accounting and Information Asymmetry.pdf

文档介绍：ountingandInformationAsymmetry:,*ThorstenSellhornWHU—OttoBeisheimSchoolofManagementABSTRACT:heeffectsofmandatingtheprovisionoffairvalueinformationforlong-livedtangibleassetsonfirms’,ountingStandard40InvestmentProperty(IAS40),whichmandatedtheprovisionofinvestmentpropertyfairvaluesin2005,,wefindthatmandatoryadoptionfirmsexhibitalargerdeclineininformationasymmetry,asreflectedinlowerbid-,wealsofindthatmandatoryadoptionfirmscontinuetohavehigherinformationasymmetrythanvoluntaryadoptionfirms,,monadoptionoffairvalue,evenforlong-livedtangibleassets,underamandatoryreportingregimecanreduce,butnotnecessarilyeliminate,:fairvalue,disclosure,IFRS,informationasymmetry,investmentpropertyCurrentDate:February2011Acknowledgements:Weappreciateusefuldiscussionanddataassistancefromthefollowingpersonsandtheiraffiliatedinstitutions:HansGrönlohandLaurensteBeekoftheEuropeanPublicRealEstateAssociation,SimonMallinsonoftheInvestmentPropertyDatabank,,FabrizioFerri,ChristopherHossfeld,ErlendKvaal,ChristopherNobes,BillRees,HollySkaife,JenniferTucker,andseminarparticipantsatBostonCollege,BostonUniversity,ColumbiaUniversity,ESCP-EAPBerlin,HarvardBusinessSchool,NewYorkUniversity,Ruhr-UniversitätBochum,UniversitätGöttingen,UniversitätOsnabrück,UniversiteitvanTilburg,WHU—OttoBeisheimSchoolofManagement,,wethankMarcBrunßen,DarioClaus,CesardeSousaFreitas,FredericFriedl,SusannaKim,Max