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Disclosure of financial instruments according to International Accounting Standards: empirical evidence from Brazilian companies

Author

Listed:
  • Rodrigo Fernandes Malaquias

    (Fundação Getulio Vargas)

  • Sirlei Lemes

    (Universidade Federal de Uberlândia)

Abstract

This article analyzes the level of disclosure of financial instruments in the financial statements of Brazilian companies in light of the requirements of the International Accounting Standards Board (IASB). We examined the annual reports of a sample of 24 nonfinancial firms provided to the Brazilian and the American capital markets for the years from 2002 to 2006. The main results are that the reports to the Brazilian market have an average disclosure level that it statistically inferior to the level of the reports released to the American market, and firms in regulated sectors, firms with a longer history of issuing ADRs and larger firms show higher levels of disclosure.

Suggested Citation

  • Rodrigo Fernandes Malaquias & Sirlei Lemes, 2013. "Disclosure of financial instruments according to International Accounting Standards: empirical evidence from Brazilian companies," Brazilian Business Review, Fucape Business School, vol. 10(3), pages 82-107, July.
    • Handle: RePEc:bbz:fcpbbr:v:10:y:2013:i:3:p:82-107
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    Cited by:

    1. Malaquias, Rodrigo Fernandes & Zambra, Pablo, 2018. "Disclosure of financial instruments: Practices and challenges of Latin American firms from the mining industry," Research in International Business and Finance, Elsevier, vol. 45(C), pages 158-167.

    More about this item

    Keywords

    Disclosure. IFRS 7; financial instruments;

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