La pertinence de l’information comptable en juste valeur dans le contexte de la crise financière: le cas de l’industrie bancaire européenne

Badreddine Hamdi and Tarek Mejri

ACCRA, 2017, vol. 23, issue 3, 29-62

Abstract: This paper investigates the value-relevance of banks? fair value disclosures provided under IAS 32 and IFRS 7. Using a sample of 102 European commercial banks for the period 2005-2012, we find that the fair value estimates for financial instruments help explain variations in bank share prices and that fair values have incremental explanatory power over and above the historical costs of these instruments. We also find evidence that the fair value of financial instruments is priced higher by investors for banks with greater capital adequacy. Additionally, the pricing of fair value assets is higher when banks are located in countries with strong investor protection. Our results also provide evidence that the fair value of financial instruments was priced at a significant discount during the peak of the financial crisis.

Keywords: fair value; relevance; reliability; financial crisis; financial instruments (search for similar items in EconPapers)
Date: 2017
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