THE VALUE RELEVANCE ASSESSMENT OF INFORMATION ABOUT THE FAIR VALUE HIERARCHY OF BRAZILIAN COMPANIES

Detalhes bibliográficos
Autor(a) principal: Marques, Tatiane de Oliveira
Data de Publicação: 2017
Outros Autores: Niyama, Jorge Katsumi, Souza, Rafael Morais de, Schultz, Charles Albino
Tipo de documento: Artigo
Idioma: por
Título da fonte: Revista Ambiente Contábil
Texto Completo: https://periodicos.ufrn.br/ambiente/article/view/7238
Resumo: The aim of this study was to evaluate whether the value relevance of fair value Level 1 and 2 is greater than the value relevance of Level 3. This is a descriptive research, quantitative character and data analysis was developed based on the linear regression method. The sample consists of 50 companies listed in the Index IBrx-100 BM&FBOVESPA that presented information on the fair value hierarchy. The data collection was conduced in the quarterly financial statements and explanatory notes from the first quarter of 2013 to the fourth quarter of 2014. The results for assets at fair value showed that the only variable AVJ3 (1,05) have value relevance, positive and statistically significant coefficient. For liability, PVJ12 (7,64) and PVJ3 (6,92) had relevance value, but the different coefficient of the theoretically expected negative. Responding to the main research objective, it is possible to affirm that the value relevance of Levels 1 and 2 is greater than value relevance of Level 3 for liabilities. From the results it can also be inferred that investors interpreted the liability amounts to fair value wrongly, as had already been observed in studies of Gaynor, McDaniel and Yohn (2009) and Lachmann, Wöhrmann and Wömpener (2011).Keywords: Fair value. Fair value hierarchy. CPC 46. Value relevance.
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spelling THE VALUE RELEVANCE ASSESSMENT OF INFORMATION ABOUT THE FAIR VALUE HIERARCHY OF BRAZILIAN COMPANIESLA EVALUACIÓN DE LA VALUE RELEVANCE DE LAS INFORMACIONES ACERCA LA JERARQUÍA DEL VALOR RAZONABLE DE LAS COMPAÑÍAS BRASILEÑASAVALIAÇÃO DO VALUE RELEVANCE DAS INFORMAÇÕES SOBRE A HIERARQUIA DO VALOR JUSTO DAS EMPRESAS BRASILEIRASThe aim of this study was to evaluate whether the value relevance of fair value Level 1 and 2 is greater than the value relevance of Level 3. This is a descriptive research, quantitative character and data analysis was developed based on the linear regression method. The sample consists of 50 companies listed in the Index IBrx-100 BM&FBOVESPA that presented information on the fair value hierarchy. The data collection was conduced in the quarterly financial statements and explanatory notes from the first quarter of 2013 to the fourth quarter of 2014. The results for assets at fair value showed that the only variable AVJ3 (1,05) have value relevance, positive and statistically significant coefficient. For liability, PVJ12 (7,64) and PVJ3 (6,92) had relevance value, but the different coefficient of the theoretically expected negative. Responding to the main research objective, it is possible to affirm that the value relevance of Levels 1 and 2 is greater than value relevance of Level 3 for liabilities. From the results it can also be inferred that investors interpreted the liability amounts to fair value wrongly, as had already been observed in studies of Gaynor, McDaniel and Yohn (2009) and Lachmann, Wöhrmann and Wömpener (2011).Keywords: Fair value. Fair value hierarchy. CPC 46. Value relevance.El objetivo de este estudio fue evaluar si la value relevance del valor razonable de nivel 1 y 2 es mayor que el value relevance de Nivel 3. Se trata de un estudio descriptivo de carácter cuantitativo y fue desarrollado sobre la base del método de regresión lineal. La muestra se compone de 50 compañías listadas en IBRX-100 BM&FBOVESPA que presentan información sobre la jerarquía del valor razonable. Los datos utilizados para el análisis de este estudio fueron recogidos en los estados financieros trimestrales y notas de las empresas analizadas y se refieren al período comprendido entre el primer trimestre de 2013 al cuarto trimestre de 2014. Los resultados mostraron que para los activos un valor razonable, sólo la variable AVJ3 (1,05) tenía value relevance, coeficiente positivo y estadísticamente significativo. Para pasivo, PVJ12 (7,64) y PVJ3 (6,92) tenían value relevance, pero con diferente coeficiente de lo negativo esperado teóricamente. En respuesta al objetivo general de la investigación, solamente se puede decir que la value relevance de los niveles 1 y 2 es mayor que el value relevance de Nivel 3 para los pasivos. Por otra parte, a partir de los resultados se puede inferir que los inversores interpretaron los importes de los pasivos a valor razonable en contra de la manera esperada, como ya se había observado en estudios de Gaynor, McDaniel y Yohn (2009) y Lachmann, Wöhrmann y Wömpener (2011).Palabras clave:Valor razonable. Jerarquía de valor justo. CPC 46. Value relevance. O objetivo deste estudo foi avaliar se o value relevance do valor justo a Nível 1 e 2 é maior que o value relevance do Nível 3. Trata-se de uma pesquisa descritiva, de caráter quantitativo, desenvolvida com base no método de regressão linear-logarítmica. A amostra foi composta por 50 empresas listadas no Índice IBrx-100 da BM&FBOVESPA que apresentaram informações sobre a hierarquia do valor justo. Os dados utilizados para as análises deste estudo foram coletados nas demonstrações financeiras trimestrais e notas explicativas das empresas analisadas e referem-se ao período entre o primeiro trimestre de 2013 ao quarto trimestre de 2014. Os resultados da pesquisa demonstraram que, para os ativos a valor justo, apenas a variável AVJ3 (1,05) apresentou value relevance, coeficiente positivo e estatisticamente significativo. Para os passivos, PVJ12 (7,64) e PVJ3 (6,92) apresentaram value relevance, porém, com coeficiente diferente do teoricamente esperado de negativo. Respondendo ao objetivo geral da pesquisa, apenas é possível afirmar que o value relevance dos Níveis 1 e 2 é maior que value relevance do Nível 3 para os passivos. Além disso, a partir dos resultados pode se inferir que os investidores interpretaram os valores do passivo a valor justo de forma contrária ao esperado, conforme já havia sido observado nos estudos de Gaynor, McDaniel e Yohn (2009) e Lachmann, Wöhrmann e Wömpener (2011).Palavras-chave: Valor justo. Hierarquia do valor justo. CPC 46. Value relevance.Portal de Periódicos Eletrônicos da UFRN2017-01-02info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://periodicos.ufrn.br/ambiente/article/view/723810.21680/2176-9036.2017v9n1ID7238REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 9 No. 1 (2017): Jan./Jun.; 144-162REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 9 Núm. 1 (2017): Jan./Jun.; 144-162REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036; v. 9 n. 1 (2017): Jan./Jun.; 144-1622176-903610.21680/2176-9036.2017v9n1reponame:Revista Ambiente Contábilinstname:Universidade Federal do Rio Grande do Norte (UFRN)instacron:UFRNporhttps://periodicos.ufrn.br/ambiente/article/view/7238/7867Copyright (c) 2017 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036info:eu-repo/semantics/openAccessMarques, Tatiane de OliveiraNiyama, Jorge KatsumiSouza, Rafael Morais deSchultz, Charles Albino2021-10-19T15:46:14Zoai:periodicos.ufrn.br:article/7238Revistahttps://periodicos.ufrn.br/ambientePUBhttps://periodicos.ufrn.br/ambiente/oai||prof.mauriciocsilva@gmail.com2176-90362176-9036opendoar:2021-10-19T15:46:14Revista Ambiente Contábil - Universidade Federal do Rio Grande do Norte (UFRN)false
dc.title.none.fl_str_mv THE VALUE RELEVANCE ASSESSMENT OF INFORMATION ABOUT THE FAIR VALUE HIERARCHY OF BRAZILIAN COMPANIES
LA EVALUACIÓN DE LA VALUE RELEVANCE DE LAS INFORMACIONES ACERCA LA JERARQUÍA DEL VALOR RAZONABLE DE LAS COMPAÑÍAS BRASILEÑAS
AVALIAÇÃO DO VALUE RELEVANCE DAS INFORMAÇÕES SOBRE A HIERARQUIA DO VALOR JUSTO DAS EMPRESAS BRASILEIRAS
title THE VALUE RELEVANCE ASSESSMENT OF INFORMATION ABOUT THE FAIR VALUE HIERARCHY OF BRAZILIAN COMPANIES
spellingShingle THE VALUE RELEVANCE ASSESSMENT OF INFORMATION ABOUT THE FAIR VALUE HIERARCHY OF BRAZILIAN COMPANIES
Marques, Tatiane de Oliveira
title_short THE VALUE RELEVANCE ASSESSMENT OF INFORMATION ABOUT THE FAIR VALUE HIERARCHY OF BRAZILIAN COMPANIES
title_full THE VALUE RELEVANCE ASSESSMENT OF INFORMATION ABOUT THE FAIR VALUE HIERARCHY OF BRAZILIAN COMPANIES
title_fullStr THE VALUE RELEVANCE ASSESSMENT OF INFORMATION ABOUT THE FAIR VALUE HIERARCHY OF BRAZILIAN COMPANIES
title_full_unstemmed THE VALUE RELEVANCE ASSESSMENT OF INFORMATION ABOUT THE FAIR VALUE HIERARCHY OF BRAZILIAN COMPANIES
title_sort THE VALUE RELEVANCE ASSESSMENT OF INFORMATION ABOUT THE FAIR VALUE HIERARCHY OF BRAZILIAN COMPANIES
author Marques, Tatiane de Oliveira
author_facet Marques, Tatiane de Oliveira
Niyama, Jorge Katsumi
Souza, Rafael Morais de
Schultz, Charles Albino
author_role author
author2 Niyama, Jorge Katsumi
Souza, Rafael Morais de
Schultz, Charles Albino
author2_role author
author
author
dc.contributor.author.fl_str_mv Marques, Tatiane de Oliveira
Niyama, Jorge Katsumi
Souza, Rafael Morais de
Schultz, Charles Albino
description The aim of this study was to evaluate whether the value relevance of fair value Level 1 and 2 is greater than the value relevance of Level 3. This is a descriptive research, quantitative character and data analysis was developed based on the linear regression method. The sample consists of 50 companies listed in the Index IBrx-100 BM&FBOVESPA that presented information on the fair value hierarchy. The data collection was conduced in the quarterly financial statements and explanatory notes from the first quarter of 2013 to the fourth quarter of 2014. The results for assets at fair value showed that the only variable AVJ3 (1,05) have value relevance, positive and statistically significant coefficient. For liability, PVJ12 (7,64) and PVJ3 (6,92) had relevance value, but the different coefficient of the theoretically expected negative. Responding to the main research objective, it is possible to affirm that the value relevance of Levels 1 and 2 is greater than value relevance of Level 3 for liabilities. From the results it can also be inferred that investors interpreted the liability amounts to fair value wrongly, as had already been observed in studies of Gaynor, McDaniel and Yohn (2009) and Lachmann, Wöhrmann and Wömpener (2011).Keywords: Fair value. Fair value hierarchy. CPC 46. Value relevance.
publishDate 2017
dc.date.none.fl_str_mv 2017-01-02
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://periodicos.ufrn.br/ambiente/article/view/7238
10.21680/2176-9036.2017v9n1ID7238
url https://periodicos.ufrn.br/ambiente/article/view/7238
identifier_str_mv 10.21680/2176-9036.2017v9n1ID7238
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://periodicos.ufrn.br/ambiente/article/view/7238/7867
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 Portal de Periódicos Eletrônicos da UFRN
publisher.none.fl_str_mv Portal de Periódicos Eletrônicos da UFRN
dc.source.none.fl_str_mv REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 9 No. 1 (2017): Jan./Jun.; 144-162
REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 9 Núm. 1 (2017): Jan./Jun.; 144-162
REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036; v. 9 n. 1 (2017): Jan./Jun.; 144-162
2176-9036
10.21680/2176-9036.2017v9n1
reponame:Revista Ambiente Contábil
instname:Universidade Federal do Rio Grande do Norte (UFRN)
instacron:UFRN
instname_str Universidade Federal do Rio Grande do Norte (UFRN)
instacron_str UFRN
institution UFRN
reponame_str Revista Ambiente Contábil
collection Revista Ambiente Contábil
repository.name.fl_str_mv Revista Ambiente Contábil - Universidade Federal do Rio Grande do Norte (UFRN)
repository.mail.fl_str_mv ||prof.mauriciocsilva@gmail.com
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