GIUV2020-471
The mandatory adoption of the International Financial Reporting Standards (IFRS) in 2005 made it a priority in the European regulatory and institutional framework to address the analysis of the economic effects of IFRS. This involves examining the economic consequences of the accounting changes that occur when the International Accounting Standards Board (IASB) issues new standards, as well as analysing the standard-setting process itself. A key aspect is to analyse how stakeholders, as well as standard-setters, interact and to analyse the extent to which there is compatibility between the objective of increasing the quality of information (transparency, relevance, reliability and comparability) to facilitate users' decision-making and the achievement of other objectives, such as financial stability. All this in a context with diverse institutional characteristics, which nevertheless directly affect accounting practices. On the other hand, as a result of the changes in the attitude of organisations and stakeholders in relation to corporate social responsability, it is a priority to analyse how the new proposals on Non-Financial Reporting-NFR (which include social, environmental,...The mandatory adoption of the International Financial Reporting Standards (IFRS) in 2005 made it a priority in the European regulatory and institutional framework to address the analysis of the economic effects of IFRS. This involves examining the economic consequences of the accounting changes that occur when the International Accounting Standards Board (IASB) issues new standards, as well as analysing the standard-setting process itself. A key aspect is to analyse how stakeholders, as well as standard-setters, interact and to analyse the extent to which there is compatibility between the objective of increasing the quality of information (transparency, relevance, reliability and comparability) to facilitate users' decision-making and the achievement of other objectives, such as financial stability. All this in a context with diverse institutional characteristics, which nevertheless directly affect accounting practices. On the other hand, as a result of the changes in the attitude of organisations and stakeholders in relation to corporate social responsability, it is a priority to analyse how the new proposals on Non-Financial Reporting-NFR (which include social, environmental, intangible assets, staff, corporate governance, human rights, corruption and bribery aspects) derived mainly from Directive 2014/95/EU are going to be formalised and transformed into standards equivalent to those currently existing on financial information (IFRS) in the EU. These aspects are acquiring a significant importance, as revealed in the consultation paper ¿Sustainability Reporting¿ issued by the IFRS Foundation (2020), the IASB¿s parent foundation. In relation to this type of reporting, we could compare the current situation with the one before 2005 when there were no single accounting/financial standards. The development of NFRs will depend on the steps taken in the coming years.
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- Analizar tanto los efectos de la informacion financiera para orientar las normas contables, como el contenido y los impactos de la informacion no financiera para asi mismo orientar el desarrollo de estas normas. En relacion con la INF, tambien denominada informacion de sostenibilidad, se pretende contribuir al debate sobre su orientacion, ¿debe captar como a la empresa le afectan los aspectos sociales y medioambientales, es decir como estos aspectos se traducen en riesgos y oportunidades para la empresa?, tal y como propone la IFRS Foundation por ejemplo, o, ¿debe referirse al impacto de la empresa en los aspectos sociales y medioambientales que afectan a la Sociedad?, tal y como plantea la Directiva 2014/95/EU.
- En relacion con la INF resulta prioritario examinar los siguientes aspectos: ¿Cuales son las necesidades de informacion de los distintos interesados?, ¿es conveniente emitir normas?, o ¿es preferible dejar libertad a las entidades?, ¿deben las PYMES tambien informar de estos aspectos?, ¿que caracteristicas deberia tener la INF?
- Como complemento del analisis de las normas y su impacto, se pretende tambien examinar en que medida influye la informacion en el comportamiento empresarial.
- Financial reporting and capital markets.The provision of financial information is extensively regulated. This is intended to enable investors to make more informed decisions and thus to make the capital market function more efficiently. This research line examines how investors react to different forms of reporting and which information is most relevant to them. This is a well-established research line.
- Accounting strategy.Given the economic effects that the provision of accounting/financial information causes, organisations are not indifferent to it. For this reason, they adopt different information strategies and even modify their actual activities to avoid the undesired effects that the standards may have on them. They also engage in lobbying practices to influence the bodies that issue standards in order to influence their design. Like the previous one, this is a consolidated research line.
- Disclosure of non-financial reporting: social and environmental.To some extent, disclosure of non-financial reporting has responded to corporate social responsibility derived from the existence of a "social contract". However, some studies suggest that this is due to an interest in pretending rather than being socially responsible. In view of the new information requirements related mainly to social and environmental information, it is required an exhaustive analysis of the needs of users and the impact that such financial reporting may have on the entities obliged to provide it. This is an emerging research line.
| Name | Nature of participation | Entity | Description |
|---|---|---|---|
| BEGOÑA GINER INCHAUSTI | Director | Universitat de València | |
| Research team | |||
| FRANCISCA PARDO PEREZ | Member | Universitat de València | |
| MIGUEL ARCE GISBERT | Member | Universitat de València | |
| PALOMA MERELLO GIMENEZ | Member | Universitat de València | |
| ARACELI MORA ENGUIDANOS | Collaborator | Universitat de València | |
| BELEN GILL DE ALBORNOZ NNOGUER | Collaborator | Universitat Jaume I | tenured university professor |
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- Inter-university Institute of International Economics (IEI)
- Mercado de capitales, información, NIIF
- Información financiera, organización, normativa
- informacion no financiera, requerimientos
