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The relative information content of the components of the reserve disclosures: reserve quantities vs. the standardised measure

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  • Kevin Thomas Berry
  • William Wilcox
  • Charlotte Wright

Abstract

While a number of research studies have attempted to evaluate the information content of reserve quantity and reserve value disclosures, no research study has examined the information content of these reserve-related disclosures relative to one another. This study sets out to examine the information content of reserve quantity disclosures vs. reserve value disclosures. Further, this study examines the information content of disclosure of the components of the year-to-year changes in reserve quantities relative to the changes in reserve values. Both a discrimination methodology and the Davidson-MacKinnon's J test for non-nested models are used to test the two hypotheses. The results of testing using both methodologies provides no evidence to reject the null hypotheses in favour of the alternatives that the reserve value disclosures provide more information than the reserve quantity disclosures. Therefore, the results do not support the current FASB statement requiring reserve value disclosures. This information should be of use to the IASB in determining whether to require reserve value disclosures, similar to those required by the FASB, in addition to reserve quantity disclosures.

Suggested Citation

  • Kevin Thomas Berry & William Wilcox & Charlotte Wright, 2004. "The relative information content of the components of the reserve disclosures: reserve quantities vs. the standardised measure," International Journal of Accounting, Auditing and Performance Evaluation, Inderscience Enterprises Ltd, vol. 1(3), pages 267-287.
  • Handle: RePEc:ids:ijaape:v:1:y:2004:i:3:p:267-287
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    Citations

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    Cited by:

    1. Kretzschmar, Gavin L. & Misund, Bard & Hatherly, David, 2007. "Market risks and oilfield ownership--Refining oil and gas disclosures," Energy Policy, Elsevier, vol. 35(11), pages 5909-5917, November.
    2. Suliman Alshahmy & Hafez Abdo, 2023. "Impacts of reserve and decommissioning disclosures on value and performance of oil and gas firms listed in the UK," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 20(2), pages 168-184, June.
    3. Bård Misund & Petter Osmundsen & Marius Sikveland, 2014. "Vertical Integration and Valuation of International Oil Companies," CESifo Working Paper Series 5061, CESifo.

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