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Financial reporting for joint ventures and capital markets reactions

Author

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  • Chiara Saccon
  • Åžtefana Maria Dima

Abstract

The core argument of this paper is that International Financial Reporting Standards (IFRSs) are designed to provide relevant financial information to a wide range of users. The higher the quality of the information supplied by financial reporting, the better the outcomes of the decision-making process of the participants on capital markets and the lower the information asymmetry within the markets. The working hypothesis is that the changes in financial reporting for joint ventures can reduce information asymmetry issues. Our approach takes into consideration the recently issued IFRS 11, which is of critical importance to the nature and quality of the financial information transmitted by the issuers to the market. The expected outcome of such an analysis resides in the idea that these changes in financial reporting reflect the role played by the international joint ventures in global markets and in the entire economic system.

Suggested Citation

  • Chiara Saccon & Åžtefana Maria Dima, 2015. "Financial reporting for joint ventures and capital markets reactions," International Journal of Economics and Business Research, Inderscience Enterprises Ltd, vol. 9(2), pages 158-169.
    • Handle: RePEc:ids:ijecbr:v:9:y:2015:i:2:p:158-169
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    Cited by:

    1. Petra Ašenbrenerová, 2016. "Disclosure of Joint Ventures and Associates in Financial Statement under IFRS," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2016(3), pages 85-94.
    2. Gavana, Giovanna & Gottardo, Pietro & Moisello, Anna Maria, 2020. "Did the switch to IFRS 11 for joint ventures affect the value relevance of corporate consolidated financial statements? Evidence from France and Italy," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 38(C).

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