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| Author: | Quagli, A. Avallone, F. |
| Title: | Fair value or cost model? Drivers of choice for IAS 40 in the real estate industry |
| Journal: | European Accounting Review
2010 : VOL.19:3, p. 461-493 |
| Index terms: | accounting theory choice theory value theory models cost accounting financial reporting standards companies Europe |
| Freeterms: | fair value real estate industry information asymmetry |
| Language: | eng |
| Abstract: | Based on a sample of European real estate companies, including from Finland (etc.), all first-time adopters of the IFRS and using a multinomial logistic model. The author suggests viewpoints and conclusions that information asymmetry, contractual efficiency and managerial opportunism could account for the fair value choice and size as a proxy of political costs reduces the likelihood of using fair value while market-to-book ratio is negatively associated with the fair value choice and on another typical proxy of contracting costs, seems not to influence the choice. |
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