Is the Hospitality Industry Ready for the New Lease Accounting Standards?

Chatfield, Hyun Kyung; Chatfield, Robert E.; Poon, Percy

doi:10.1080/10913211.2017.1398955

Cited by 8 publications

(5 citation statements)

References 4 publications

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“…The most affected sectors, according to studies conducted after IFRS 16 was issued and before it became effective, would be hotels (Chatfield et al, 2017;Morales-Díaz & Zamora-Ramírez, 2018), retail and transportation (Morales-Díaz & Zamora-Ramírez, 2018), airlines (Alabood et al, 2019;Veverková, 2019), and bars and restaurants (Chatfield et al, 2017).…”

Section: Impact Of the Ifrs On Equity Profitability And Value Indicatorsmentioning

confidence: 99%

Sectoral analysis of the impact of IFRS 16 and COVID-19 on the indicators of Brazilian lessees

Cardoso,

Britto

2023

Rev. contab. finanç.

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The objective of this article was to analyze the impact of International Financial Reporting Standard 16 (IFRS 16) and the coronavirus disease 2019 (COVID-19) pandemic on the indicators of Brazilian lessee companies, segregated by economic sector. The effects of IFRS 16 after its entry into force and of COVID-19 simultaneously with the concession of the International Accounting Standards Board (IASB) on the indicators of lessee companies, segregated by Brazilian economic sectors, were not yet known. The study contributes to the literature by providing evidence on the consequences of the accounting standard setters’ decisions, as well as the COVID-19 pandemic, on the indicators of different economic sectors. The study helps both preparers and regulators to understand the impact of the accounting standardization and COVID-19 on the indicators of lessee companies according to economic activity. For investors, it shows the importance of anticipating the impact of the standards on their decision making. A comparative analysis of the indicators before and after the adoption of the new standard and the pandemic was carried out, as well as a statistical relevance analysis for the indicators of public companies, by economic sector and using the difference in differences method and multiple linear regression with panel data, for the period from 2010 to 2020. The study showed that the impact of IFRS 16 on the indicators was differentiated by sector, with healthcare, oil, gas, and biofuels, and cyclical consumption being the most affected. The standard was not relevant to the value of most sectors, with the exception of healthcare and non-cyclical consumption, showing that investors were positively surprised by the adoption of IFRS 16 by these sectors. The effect of COVID-19, combined with the IASB’s concession to lessees, was positive for profitability and earnings before interest, taxes, depreciation, and amortization (EBITDA) in the healthcare sector, but did not reverse the deterioration in leverage and profitability of the industrial goods sector and the lessees as a whole and the profitability of the cyclical consumption sector, highlighting the partial effectiveness of the measure.

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Section: Impact Of the Ifrs On Equity Profitability And Value Indicatorsmentioning

confidence: 99%

Sectoral analysis of the impact of IFRS 16 and COVID-19 on the indicators of Brazilian lessees

Cardoso,

Britto

2023

Rev. contab. finanç.

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“…Os setores mais afetados, segundo estudos realizados após a emissão da IFRS 16 e antes de sua vigência, seriam hotelaria (Chatfield et al, 2017;Morales-Díaz & Zamora-Ramírez, 2018), varejo e transporte (Morales-Díaz & Zamora-Ramírez, 2018), aéreo (Alabood et al, 2019;Veverková, 2019), bares e restaurantes (Chatfield et al, 2017).…”

Section: Tabela 1 Efeito Esperado Nos Indicadores Após a Vigência Da ...unclassified

Análise setorial do impacto da IFRS 16 e covid-19 nos indicadores das arrendatárias brasileiras

Cardoso,

Britto

2023

Rev. contab. finanç.

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RESUMO O objetivo deste artigo foi analisar o impacto da International Financial Reporting Standard 16 (IFRS 16) e da pandemia da doença do coronavírus 2019 (covid-19) nos indicadores das empresas arrendatárias brasileiras por setor econômico. Ainda não eram conhecidos os efeitos da IFRS 16 após sua vigência e da covid-19 simultaneamente com a concessão do International Accounting Standard Board (IASB) sobre os indicadores das empresas arrendatárias, segregados por setores econômicos brasileiros. O estudo contribui para a literatura ao fornecer evidências sobre as consequências das decisões dos normatizadores contábeis, bem como da pandemia da covid-19 sobre os indicadores de diferentes setores econômicos. O estudo auxilia na compreensão, tanto por preparadores quanto por reguladores, do efeito da normatização contábil e da covid-19 nos indicadores das empresas arrendatárias, conforme atividade econômica. Para investidores, demonstra que é relevante antecipar o impacto das normas em suas tomadas de decisão. Foi realizada análise comparativa dos indicadores, antes e após a adoção do novo padrão e da pandemia, e análise de relevância estatística para os indicadores das empresas listadas, por setor econômico e por meio do método de diferenças em diferenças e regressão linear múltipla com dados em painel, no período de 2010 a 2020. O estudo evidenciou que o impacto da IFRS 16 nos indicadores foi diferenciado por setores, sendo saúde e petróleo, gás e biocombustíveis e consumo cíclico os mais afetados. A norma não foi relevante para o valor da maioria dos setores, exceto saúde e consumo não cíclico, demonstrando surpresa positiva dos investidores quanto à aplicação da IFRS 16 por esses setores. O efeito da covid-19 combinado com a concessão do IASB às arrendatárias foi positivo para a rentabilidade e earnings before interest, tax, depreciation and amortization (EBITDA) do setor de saúde, mas não reverteu a piora do endividamento e rentabilidade do setor de bens industriais e conjunto das arrendatárias e da rentabilidade do setor de consumo cíclico, revelando efetividade parcial da medida.

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“…As for other geographical areas, Chatfield et al (2017) carried out a study of hotel companies in the United States. The study shows that hotel companies make extensive use of operating leases.…”

Section: Literature Reviewmentioning

confidence: 99%

Effects of the implementation of IFRS 16 leases in companies listed in the Colombian Stock Exchange

Molina

Franco

2022

Rev. fac. cien. econ.

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The purpose of this research is to analyze possible effects associated with the initial application of International Financial Reporting Standards (ifrs) to the financial statements of 68 companies listed on the Colombian Stock Exchange. This study uses a content analysis technique and the Gray index of conservatism to measure the changes produced by the standard for the years 2019 and 2018. The outcomes show that there is a financial effect for 16.18% of the adopting entities and an impact on indicators such as ROE, debt, and leverage, the latter having an average negative impact. In terms of disclosures, lessees provide more information (with 65% compliance) than lessors (with 55%). Even so, the total of the requirements established in ifrs 16 are not achieved, evidencing how the disclosure objectives of the standard are not fully met for the entities listed in the BVC. Nevertheless, not all the criteria established in ifrs 16 are satisfied. This article contributes to the analysis of the microeconomic effects of the ifrs (specifically ifrs 16), on adopting companies, for which few studies have been conducted in Latin America.

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Is the Hospitality Industry Ready for the New Lease Accounting Standards?

Cited by 8 publications

References 4 publications

Sectoral analysis of the impact of IFRS 16 and COVID-19 on the indicators of Brazilian lessees

Sectoral analysis of the impact of IFRS 16 and COVID-19 on the indicators of Brazilian lessees

Análise setorial do impacto da IFRS 16 e covid-19 nos indicadores das arrendatárias brasileiras

Effects of the implementation of IFRS 16 leases in companies listed in the Colombian Stock Exchange

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