International Real Estate Review

Dong, Chen; Gao, Yanmin; Kaul, Mayank; Tsang, Desmond

doi:10.53383/100161

Cited by 2 publications

(2 citation statements)

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“…Therefore, any regulatory impact on the fair value disclosures related to financial instruments will be disregarded. The reason for such a choice is that, before the implementation of IFRS 13, some studies, e.g., [8,10,11], showed a great degree of variability in disclosure extent and quality regarding investment properties in countries where IFRS is applied. However, previous research published by Quagli & Avallone [12] emphasized mostly the discussion of the appropriateness of fair value appraisals in comparison to the cost model alternative or on the possible relationship between financial instruments measured at fair value and the financial crisis of 2008, as seen in Fahnestock & Bostwick [13].…”

Section: Literature Reviewmentioning

confidence: 99%

“…In this context, some of the main criteria utilized in the construction of this global index include: being listed on selected stock exchanges; providing audited annual reports in English; and deriving at least 75% of its EBITDA from the so-called relevant real estate activities, i.e., "…the ownership, trading, and development of income-producing real estate" [1]. Besides, the use of this index for sampling purposes was already established in peer-reviewed literature pertinent to financial reporting practices within the real estate sector [10].…”

Section: Sampling Processmentioning

confidence: 99%

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European Real Estate Properties Valuation: Ten Years After Adopting IFRS 13

Škoda,

Bočková,

Guzoňová

2023

HighTech. Innov. J.

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IFRS 13 had its mandatory implementation on January 1st, 2013. The new accounting standard, which represents one step closer to harmonization between U.S. GAAP and IFRS, aims to eliminate inconsistencies in fair value measurement and its related disclosures through the introduction of new reporting requirements, specifically for assets and liabilities with no active markets. Although these demands also encompass information concerning financial instruments, our focus was on the disclosure changes related to the fair value of investment properties, previously regulated solely by IAS 40. As investment properties comprise the majority of assets in the real estate industry, this sector was further examined. Through a statistical analysis of the sample companies’ annual reports for the periods immediately before and after the implementation of IFRS 13, the purpose of our descriptor-explanatory study was to investigate the level of compliance with IFRS 13 fair value disclosure requirements for investment properties in real estate companies in Europe. In order to answer this question, we first scrutinized the level of compliance with the new disclosure requirements brought up by the standard and then, intermediated by an adaptation of the model developed by Beretta & Bozzolan (2008), measured the disclosure quality for both periods considered. After data collection and analysis, our findings reveal that IFRS 13 does affect the disclosure quality of investment properties in real estate companies in Europe. Overall compliance is very high, while disclosure quality has increased since the implementation of IFRS 13. As a way to further broaden the research related to the more extensive disclosure requirements under IFRS 13, we suggest additional studies be undertaken where the point of view of the real estate companies could be explored. Moreover, it would be interesting to investigate whether the increased number of disclosures, both in relation to quantity and quality, is relevant from an analyst’s standpoint. Doi: 10.28991/HIJ-2023-04-03-04 Full Text: PDF

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Section: Literature Reviewmentioning

confidence: 99%

Section: Sampling Processmentioning

confidence: 99%