Disclosure of fair value measurement techniques of financial instruments: study applied to the portuguese banking sector according to IFRS 7
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.2/9196 |
Resumo: | The last financial crisis raised a lot of criticism toward fair value measurement and, consequently, the IASB defined in IFRS 7 “Financial Instruments: Disclosures" and IFRS 13 "Fair Value Measurement", the set of disclosures that a company must make regarding the fair value measurement techniques used. The fair value hierarchy concept, introduced in IFRS 7 in 2009, classifies the data used in the measurement according to three levels, of which two levels introduce some subjectivity in the measurement. Hence, this research aims to study the disclosure of fair value measurement techniques of the financial instruments of companies operating in the banking sector in Portugal from 2013 to 2015. Its purpose is to understand whether those financial instruments duly applied the accounting standards that define the required disclosures and analyse the fair value measurement techniques used for financial instruments. The results of the study allow us to conclude that companies operating in the banking sector in Portugal have generally disclosed information on fair value measurement techniques of the financial instruments required by IFRS 7, with the exception of disclosures related to the description of valuation techniques applied for the determination of the fair value of financial assets and liabilities and the reconciliation of changes in the fair value of financial instruments classified at level 3 of the fair value hierarchy. It was also concluded that most financial instruments measured at fair value are classified at level 2 of the fair value hierarchy, which limits the degree of certainty about their values. |
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Disclosure of fair value measurement techniques of financial instruments: study applied to the portuguese banking sector according to IFRS 7Banking industryFair valueFair value hierarchyFinancial instrumentsThe last financial crisis raised a lot of criticism toward fair value measurement and, consequently, the IASB defined in IFRS 7 “Financial Instruments: Disclosures" and IFRS 13 "Fair Value Measurement", the set of disclosures that a company must make regarding the fair value measurement techniques used. The fair value hierarchy concept, introduced in IFRS 7 in 2009, classifies the data used in the measurement according to three levels, of which two levels introduce some subjectivity in the measurement. Hence, this research aims to study the disclosure of fair value measurement techniques of the financial instruments of companies operating in the banking sector in Portugal from 2013 to 2015. Its purpose is to understand whether those financial instruments duly applied the accounting standards that define the required disclosures and analyse the fair value measurement techniques used for financial instruments. The results of the study allow us to conclude that companies operating in the banking sector in Portugal have generally disclosed information on fair value measurement techniques of the financial instruments required by IFRS 7, with the exception of disclosures related to the description of valuation techniques applied for the determination of the fair value of financial assets and liabilities and the reconciliation of changes in the fair value of financial instruments classified at level 3 of the fair value hierarchy. It was also concluded that most financial instruments measured at fair value are classified at level 2 of the fair value hierarchy, which limits the degree of certainty about their values.International Review of Management and Business ResearchRepositório AbertoKasyan, AnaSantos, Paula Gomes dosPinho, CarlosPinto, Vera2020-02-06T14:27:54Z2017-122017-12-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.2/9196eng2306-9007info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-16T15:32:04Zoai:repositorioaberto.uab.pt:10400.2/9196Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:49:04.635746Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Disclosure of fair value measurement techniques of financial instruments: study applied to the portuguese banking sector according to IFRS 7 |
title |
Disclosure of fair value measurement techniques of financial instruments: study applied to the portuguese banking sector according to IFRS 7 |
spellingShingle |
Disclosure of fair value measurement techniques of financial instruments: study applied to the portuguese banking sector according to IFRS 7 Kasyan, Ana Banking industry Fair value Fair value hierarchy Financial instruments |
title_short |
Disclosure of fair value measurement techniques of financial instruments: study applied to the portuguese banking sector according to IFRS 7 |
title_full |
Disclosure of fair value measurement techniques of financial instruments: study applied to the portuguese banking sector according to IFRS 7 |
title_fullStr |
Disclosure of fair value measurement techniques of financial instruments: study applied to the portuguese banking sector according to IFRS 7 |
title_full_unstemmed |
Disclosure of fair value measurement techniques of financial instruments: study applied to the portuguese banking sector according to IFRS 7 |
title_sort |
Disclosure of fair value measurement techniques of financial instruments: study applied to the portuguese banking sector according to IFRS 7 |
author |
Kasyan, Ana |
author_facet |
Kasyan, Ana Santos, Paula Gomes dos Pinho, Carlos Pinto, Vera |
author_role |
author |
author2 |
Santos, Paula Gomes dos Pinho, Carlos Pinto, Vera |
author2_role |
author author author |
dc.contributor.none.fl_str_mv |
Repositório Aberto |
dc.contributor.author.fl_str_mv |
Kasyan, Ana Santos, Paula Gomes dos Pinho, Carlos Pinto, Vera |
dc.subject.por.fl_str_mv |
Banking industry Fair value Fair value hierarchy Financial instruments |
topic |
Banking industry Fair value Fair value hierarchy Financial instruments |
description |
The last financial crisis raised a lot of criticism toward fair value measurement and, consequently, the IASB defined in IFRS 7 “Financial Instruments: Disclosures" and IFRS 13 "Fair Value Measurement", the set of disclosures that a company must make regarding the fair value measurement techniques used. The fair value hierarchy concept, introduced in IFRS 7 in 2009, classifies the data used in the measurement according to three levels, of which two levels introduce some subjectivity in the measurement. Hence, this research aims to study the disclosure of fair value measurement techniques of the financial instruments of companies operating in the banking sector in Portugal from 2013 to 2015. Its purpose is to understand whether those financial instruments duly applied the accounting standards that define the required disclosures and analyse the fair value measurement techniques used for financial instruments. The results of the study allow us to conclude that companies operating in the banking sector in Portugal have generally disclosed information on fair value measurement techniques of the financial instruments required by IFRS 7, with the exception of disclosures related to the description of valuation techniques applied for the determination of the fair value of financial assets and liabilities and the reconciliation of changes in the fair value of financial instruments classified at level 3 of the fair value hierarchy. It was also concluded that most financial instruments measured at fair value are classified at level 2 of the fair value hierarchy, which limits the degree of certainty about their values. |
publishDate |
2017 |
dc.date.none.fl_str_mv |
2017-12 2017-12-01T00:00:00Z 2020-02-06T14:27:54Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.2/9196 |
url |
http://hdl.handle.net/10400.2/9196 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
2306-9007 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
International Review of Management and Business Research |
publisher.none.fl_str_mv |
International Review of Management and Business Research |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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