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Determinantes de la revelación de información sobre derivados financieros en el mercado español

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  • Mir Fernández, Carlos
  • Moreno, David
  • Olmeda, Ignacio

Abstract

En el presente trabajo estudiamos como las diferentes propuestas normativas que se han ido desarrollando en los últimos años en torno a la información contable sobre derivados financieros con la presencia cada vez más próxima de las proposiciones del IASB tuvieron una influencia significativa en la transparencia y calidad de los datos contables reportados por las entidades cotizadas. Dada la evolución normativa y el período de tiempo considerado (2000 2002), el trabajo centra su atención en información voluntaria sobre derivados financieros y actividades de riesgo, considerando como única obligación legal la consecución de la imagen fiel del patrimonio y de la situación financiera de las entidades emisoras. En función de ello el trabajo se divide en tres partes. En una primera, se analiza si ha existido un cambio en la información voluntaria facilitada por las empresas de la muestra durante el periodo de estudio considerado, evidenciando un aumento estadísticamente significativo durante el periodo de estudio. En una segunda parte del estudio, se emplean los modelos Tobit y Probit para analizar los determinantes que determinan la revelación de información sobre derivados financieros, y se encuentra evidencia de que la mejora informativa sólo se produce justificada por el tamaño de la empresa y el volumen de endeudamiento, corroborando parcialmente otros trabajos desarrollados en mercados internacionales alternativos. En la última parte del estudio hacemos uso de una técnica no paramétrica de clasificación, K-vecinos-más-próximos o Knn, buscando recoger posibles relaciones no lineales no consideradas en los trabajos precedentes.

Suggested Citation

  • Mir Fernández, Carlos & Moreno, David & Olmeda, Ignacio, 2006. "Determinantes de la revelación de información sobre derivados financieros en el mercado español," DEE - Documentos de Trabajo. Economía de la Empresa. DB db060504, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    • Handle: RePEc:cte:dbrepe:db060504
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