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Value relevance of fair values in different investor protection environments/ by Jimi Siekkinen.

By:

Siekkinen, Jimi

Material type:

Continuing resourceSeries: Accounting Forum. p.1-15 ; Volume 40, Issue 1, March 2016Publication details: Amsterdam: Elsevier, c2016.Description: p.1-15ISSN:

01559982

Subject(s):

DDC classification:

BPer. 657 Ac27 Vol. 40, i1. March 2016

Summary: This paper examines whether the value relevance of fair values varies across investor protection environments. By analyzing financial firms from 34 countries this study finds evidence that fair values, irrespective of the level in the fair value hierarchy, are value relevant in countries with a strong or medium investor protection environment. In a weak investor protection environment, only market prices (level 1) are relevant to investors. In addition, the results indicate that the difference in value relevance between market prices (level 1) and fair value estimates (level 3) decreases with the quality of investor protection.

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Holdings
Item type	Home library	Call number	Vol info	Status	Date due	Barcode
Bansalan Periodicals	UM Bansalan College LIC	BPer. 657 Ac27 (Browse shelf(Opens below))	Quarterly	Not For Loan

Includes references.

This paper examines whether the value relevance of fair values varies across investor protection environments. By analyzing financial firms from 34 countries this study finds evidence that fair values, irrespective of the level in the fair value hierarchy, are value relevant in countries with a strong or medium investor protection environment. In a weak investor protection environment, only market prices (level 1) are relevant to investors. In addition, the results indicate that the difference in value relevance between market prices (level 1) and fair value estimates (level 3) decreases with the quality of investor protection.

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