Does the interaction between the accounting method choice and disclosure affect financial analysts’ information environment?The case of joint ventures under IAS 31

  1. Begoña Giner Inchausti 1
  2. Raul Iñiguez Sanchez 2
  3. Francisco Poveda Fuentes 2
  1. 1 Department of Accounting, University of Valencia
  2. 2 Department of Financial Economics and Accounting, University of Alicante
Revista:
Revista española de financiación y contabilidad

ISSN: 0210-2412

Año de publicación: 2017

Volumen: 46

Número: 3

Páginas: 298-326

Tipo: Artículo

DOI: 10.1080/02102412.2017.1325598 DIALNET GOOGLE SCHOLAR

Otras publicaciones en: Revista española de financiación y contabilidad

Resumen

La NIC 31 permitía elegir entre integración proporcional y el método de la participación para la inclusión de los negocios conjuntos en las cuentas consolidadas de los partícipes. Además, esta elección conllevaba la inclusión de cierta información sobre los negocios conjuntos en los estados financieros primarios o en la memoria. Este trabajo investiga si los analistas financieros perciben la información contable de forma distinta dependiendo del método elegido, condicionado a que se divulgue la información requerida en la memoria. Se analiza una muestra de empresas españolas en el periodo 2005-2010, y se considera la influencia de la decisión contable sobre las predicciones de beneficios, precios objetivo y recomendaciones sobre acciones. Adicionalmente, se estudia si esta opción contable afecta al entorno informativo de los analistas. Nuestros resultados sugieren que la elección no afecta al sesgo ni a la precisión de las predicciones de beneficios, ni tampoco a precios objetivo ni a recomendaciones, al margen de que las empresas proporcionen o no información en la memoria. Pese a que la integración proporcional implica menor dispersión en las predicciones, los contrastes realizados no permiten confirmar que el entorno informativo se vea afectado por el uso de un método contable u otro. Estos resultados apoyan la decisión tomada en la NIIF 11 de imponer un único método para la contabilización de los negocios conjuntos.

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