Effect of corporate governance and enforcement on fair value accounting in Brazil
Fernando Galdi,
André De Moura,
Felipe Damasceno
et al.
Abstract:Purpose
This paper aims to investigate whether Brazilian firms that legally bond to stricter enforcement and commit to stringent corporate governance requirements experience increased value relevance of discretionary fair value measurements (Levels 2 and 3), and how different measurement levels are associated with firms’ systematic risk.
Design/methodology/approach
The Brazilian data’s distinctive feature helps in analyzing fair value’s relevance in an emerging market with heterogeneous enforcement regimes. G… Show more
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