The Value Relevance of Fair Value Disclosures in Australian Firms in the Extractive Industries
Hassan, Mohamat Sabri bin, Percy, Majella, & Stewart, Jennifer D. (2006) The Value Relevance of Fair Value Disclosures in Australian Firms in the Extractive Industries. Asian Academy of Management Journal of Accounting and Finance, 2, pp. 21-41.
We investigate whether fair value information is value relevant within Australian firms in the extractive industries. From 2005, the Australian accounting standard on financial instruments, AASB 139 Financial Instruments: Recognition and Measurement, requires measurement of financial instruments based on fair values. This study provides evidence that net fair value information is value relevant. However, the significance of net fair value is limited to the recognised financial instruments and some settings. Further analysis provides evidence that the explanatory power of net fair value and the unrealised gain or loss beyond the book value and earnings valued at historical costs is very low.
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|Item Type:||Journal Article|
|Keywords:||Fair value, Financial Instruments, Value Relevance, Incremental Value, Extractive Industries|
|Subjects:||Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300)|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School|
|Copyright Owner:||Copyright 2006 Asian Academy of Management (AAM) and Penerbit Universiti Sains Malaysia|
|Copyright Statement:||Reproduced in accordance with the copyright policy of the publisher.|
|Deposited On:||12 Oct 2006|
|Last Modified:||10 Aug 2011 17:38|
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