Las NIIF y la relevancia valorativa de los activos intangibles: Evidencia empírica en el mercado de capitales argentino antes y después de su adopción
The objective of this work is to analyze the effect of the adoption of International Financial Reporting Standards (IFRS) on the relevance that the argentine capital market assigns to the information on intangible assets of companies that are listed on it. The analysis is carried out by applying a p...
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| Formato: | Artículo revista |
| Lenguaje: | Español |
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Ediciones UNL
2020
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| Acceso en línea: | https://bibliotecavirtual.unl.edu.ar/publicaciones/index.php/CE/article/view/8958 |
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| Sumario: | The objective of this work is to analyze the effect of the adoption of International Financial Reporting Standards (IFRS) on the relevance that the argentine capital market assigns to the information on intangible assets of companies that are listed on it. The analysis is carried out by applying a price model based on Ohlson (1995), with data collected directly from original sources and corresponding to the period 2009-2015. The results obtained show that the adoption of IFRS affected the value relevance of intangible assets. Specifically, the value relevance of goodwill increased with the adoption of IFRS, situation that is associated with the fact that these standards have regulated their accounting treatment prioritizing the relevance of information to a greater extent than local standards. In contrast, the value relevance of other identifiable intangible assets decreased with the adoption of IFRS, and this can be linked to the greater restrictions established by IAS 38 regarding the recognition of intangibles. These findings are in line with those provided by previous studies and contribute to increase the existing evidence about the role of intangibles in the external valuation of companies and the implications that IASB regulatory framework have had over that, evidence which is particularly limited for underdeveloped markets. |
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