HAS <i>SFAS 133</i> MADE DERIVATIVES REPORTING MORE TRANSPARENT? A LOOK AT THE DOW-JONES 30

Hamlen, Susan S.; Largay, James A.

doi:10.1142/s0219868105000410

Cited by 5 publications

(10 citation statements)

References 1 publication

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“…A summary of the percentage disclosure index is shown for all sectors in Table 4 IFRS 7 was associated with a 17% increase in the overall percentage of FI-related items disclosed; it grew from 30% of items required to be disclosed pre-IFRS 7 to 47% of items required to be published after IFRS 7 was adopted. In general, the findings of the current study are consistent with the notion that the new accounting standard put pressure on companies to publish more information in order to meet the needs of financial statement users including capital market participants (Chalmers and Godfrey, 2004;Chalmers, 2001;Hamlen and Largay, 2005).…”

Section: An Analysis Of Financial Instruments Disclosure By Industriasupporting

confidence: 87%

“…In conclusion, the general findings of the extant FI-related disclosure literature indicate that the introduction of new accounting standards have resulted in: (i) an increase in the number of companies supplying FI disclosure (Edwards and Eller, 1995;Chalmers and Godfrey, 2004;Chalmers, 2001;Hassan et al, 2006b); and (ii) an improvement in the level of corporate FI disclosure provided (Roulstone, 1999;Chalmers and Godfrey, 2000;Chalmers, 2001;Dunne et al, 2004;Woods and Marginson, 2004;Hamlen and Largay, 2005;Lopes and Rodrigues, 2006;Strouhal, 2009;Murcia and Santos, 2010).…”

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confidence: 98%

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The impact of IFRS 7 on the significance of financial instruments disclosure

Tahat

Dunne

Fifield

et al. 2016

ARJ

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Purpose -The main aim of this paper is to investigate Financial Instrument (FI) disclosures provided by Jordanian listed companies under IFRS 7 as compared to those supplied under IAS 30/32.Design/methodology/approach -A sample of 82 Jordanian listed companies is used in this monograph. A disclosure index checklist was constructed to measure FI information provided by the sample companies.Findings -The study finds that a larger number of Jordanian listed companies provided a greater level of FI-related information after IFRS 7 was implemented. Specifically, the sample firms provided 47% of the disclosure index items after implementing IFRS 7 as compared to 30% under IAS 30/32. In addition, an analysis of FI disclosure by industry revealed that the highest level of disclosure was provided by firms in the banking sector.Moreover, the analysis of FI disclosure pre-and post-the implementation of IFRS 7 revealed specific aspects of usefulness. In particular, some components of FI disclosure (Balance Sheet and Fair Value) showed no significant differences within and across sectors post the implementation of IFRS 7 suggesting that the new standard may have enhanced the comparability of such information. Research Limitations/implications -The results of the current study have a number of implications for policy-makers. First, they provide a great deal of insight for the IASB about the relevance of its standards to countries outside the Western context. In addition, 2 the findings provide valuable insights for policy-makers in Jordan who are concerned about the implications of mandatory disclosures.Originality/value -The analysis of FI disclosure in developing countries in general, and in Jordan in particular, has been overlooked by the extant literature and therefore this study is the first of its kind to examine this research issue for a sample of Jordanian firms.

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Section: An Analysis Of Financial Instruments Disclosure By Industriasupporting

confidence: 87%

mentioning

confidence: 98%

The impact of IFRS 7 on the significance of financial instruments disclosure

Tahat

Dunne

Fifield

et al. 2016

ARJ

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“…For instance, the investigations use different sample sizes ranging from a few companies with only ten annual reports (Edwards and Eller, 1995) to the inclusion of 600 firms (Gebhardt, 2012). In addition, some of the studies are sector-specific -concentrating on banking (Edwards and Eller, 1995), industrial companies (Hamlen and Largay, 2005) or firms from the manufacturing industry (Hamlen and Largay, 2005). Others are more general and include both financial and non-financial firms Rodrigues, 2006, 2008).…”

Section: Risk Disclosures Associated With Financial Instrumentsmentioning

confidence: 99%

Risk-related disclosure: a review of the literature and an agenda for future research

et al. 2019

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“…Before the existence of the FI-related accounting standards (before 1990), studies indicated that firms were hesitant to voluntarily disclose information about the use of FIs (Mahoney and Kawamura, 1995;Berkman et al, 1997;Grant and Marshall, 1997). However, after the introduction of FI-related accounting standards (IAS 32;IAS 30), research in the field of accounting and finance has examined their impact on the extent of FI disclosure (e.g., Roulstone, 1999;Chalmers and Godfrey, 2000;Chalmers, 2001;Dunne et al, 2004;Hamlen and Largay, 2005;Lopes and Rodrigues, 2006;Strouhal, 2009;Murcia andSantos, 2010, Tahat et al, 2016). Their results indicate that the extent of FI-related disclosure level was inconsistent across countries and years in developed and developing nations with poor FI disclosure in evolving markets 1 (Hamlen and Largay, 2005;Strouhal, 2009).…”

Section: Introductionmentioning

confidence: 99%

“…However, after the introduction of FI-related accounting standards (IAS 32;IAS 30), research in the field of accounting and finance has examined their impact on the extent of FI disclosure (e.g., Roulstone, 1999;Chalmers and Godfrey, 2000;Chalmers, 2001;Dunne et al, 2004;Hamlen and Largay, 2005;Lopes and Rodrigues, 2006;Strouhal, 2009;Murcia andSantos, 2010, Tahat et al, 2016). Their results indicate that the extent of FI-related disclosure level was inconsistent across countries and years in developed and developing nations with poor FI disclosure in evolving markets 1 (Hamlen and Largay, 2005;Strouhal, 2009). Prior studies suggested that institutional contexts (e.g., the culture, economy, the legal system and religion) could have a significant impact on corporate FI disclosure (Lopes and Rodrigues, 2006).…”

Section: Introductionmentioning

confidence: 99%

A longitudinal analysis of financial instruments disclosure in an emerging capital market: the case of Qatar

Tahat

Mardini

Haddad

2018

IJAF

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This study explores the extent of financial instruments (FI) information that is supplied by Qatari listed companies under International Accounting Standards (IAS) 30, IAS 32 and International Financial Reporting Standards (IFRS) 7 for the period between 2005 and 2012. The study adopts the unweighted disclosure approach to measure the extent of FI-related information provided by a sample of 282 Qatari firm observations between 2005 and 2012. The results of the study indicate that the implementation of IFRS 7 statistically improved FI-related information. Specifically, the quantity of FI disclosure rose from 24% in 2005 (under IAS 30/32) to greater than 28% in 2007 (under IFRS 7) and this rise was sustained, reaching 47% in 2012. Also, the results of the study reveal that the level of FI disclosure varies among companies by year, category of information and industry type. The current paper provides a great insight into the accounting profession and is of interest to both national (Qatari) and international accounting regulators regarding the implications of applying IFRS 7 in an emerging capital market.

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HAS SFAS 133 MADE DERIVATIVES REPORTING MORE TRANSPARENT? A LOOK AT THE DOW-JONES 30

Cited by 5 publications

References 1 publication

The impact of IFRS 7 on the significance of financial instruments disclosure

The impact of IFRS 7 on the significance of financial instruments disclosure

Risk-related disclosure: a review of the literature and an agenda for future research

A longitudinal analysis of financial instruments disclosure in an emerging capital market: the case of Qatar

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