Does Standardisation of Accounting Improve the Value Relevance of Financial Reporting in Banking Sector?

• Autorzy: Piotr Bolibok

Warianty tytułu

Czy standaryzacja rachunkowości zwiększa znaczenie sprawozdawczości finansowej dla wartości rynkowej w sektorze bankowym?

• Języki publikacji: EN

Abstrakty

EN

The paper aims at investigating the impact of the adoption of the International Financial Reporting Standards on the value relevance of consolidated financial reporting of banks in the emerging capital market of Poland. The investigation covers a sample of all domestically-based commercial banks listed on the Warsaw Stock Exchange over the period 1997-2013 that prepared consolidated financial statements both before and after 2005, when IFRS became mandatory. The research methods employed involved multiple linear regression analysis and the Chow test for structural break. The empirical evidence indicates that observed increase in the value relevance of consolidated book values of equity and net earnings of banks after adoption of IFRS is statistically insignificant. Moreover, the descriptive power of the aforementioned accounting variables appears to have in fact diminished in the period succeeding the adoption. The obtained results are therefore consistent with the findings of previous studies regarding both banking and non-financial enterprises sector in the Polish capital market. (original abstract)

Celem artykułu jest ocena wpływu przyjęcia Międzynarodowych Standardów Sprawozdawczości Finansowej na znaczenie skonsolidowanej sprawozdawczości finansowej dla wartości rynkowej banków na wschodzącym rynku kapitałowym Polski. Badaniem objęto próbę wszystkich banków komercyjnych z siedzibą w kraju, notowanych na Giełdzie Papierów Wartościowych w Warszawie w okresie 1997-2013, które sporządzały skonsolidowane sprawozdania finansowe zarówno przed 2005 rokiem, jak i po nim od kiedy MSSF stały się obligatoryjne. Zastosowane metody badawcze obejmowały analizę regresji liniowej oraz test Chowa oszacowań stabilności parametrów. Wyniki empiryczne wskazują, że obserwowany wzrost znaczenia dla wartości rynkowej wartości księgowej skonsolidowanych kapitałów własnych, jak również wyników finansowych netto banków po przyjęciu MSSF jest nieistotny statystycznie. Ponadto, zdolność wspomnianych zmiennych księgowych do objaśniania zmienności wartości rynkowej faktycznie zmalała w okresie po przyjęciu standardów. Uzyskane rezultaty są zatem spójne z wynikami poprzednich badań dotyczących zarówno sektora bankowego, jak i przedsiębiorstw niefinansowych na polskim rynku kapitałowym. (abstrakt oryginalny)

Słowa kluczowe

EN

Standardization of accounting; Banks; Financial reporting

PL

Standaryzacja rachunkowości; Banki; Sprawozdawczość finansowa

• Czasopismo: Zarządzanie Finansami i Rachunkowość / Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
• Rocznik: 3 (2015)
• Numer: nr 2
• Strony: 65--76

Twórcy

autor

Piotr Bolibok

• Katolicki Uniwersytet Lubelski Jana Pawła II

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