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Fair Value of Real Estate and Utility of Financial Statements of Construction Companies

Listed author(s):
  • Andrˆms Navarro-Galera


    (University of Granada)

  • Marˆqa del Carmen Pˆmrez-Lˆupez


    (University of Granada)

  • Lˆhzaro Rodrˆqguez-Ariza


    (University of Granada)

Some international standards have proposed that the fair value approach should be used to evaluate real estate assets. The choice to use this method or another approach could influence the quality of the financial reports published in response to information demands by company stakeholders. In this study, we will examine whether fair value evaluation, in the real estate context, improves the utility of construction company financial reports. For this purpose, we have addressed a questionnaire to financial directors that concern the relevance, reliability and viability of this valuation criterion. Based on the opinion of the respondents, our results show that the fair value model would improve the usefulness of financial reports to evaluate company solvency, and would also improve the comparability, timeliness and understandability of such reports.

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Article provided by Asian Real Estate Society in its journal International Real Estate Review.

Volume (Year): 13 (2010)
Issue (Month): 3 ()
Pages: 323-350

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Handle: RePEc:ire:issued:v:13:n:03:2010:p:323-350
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Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA

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Order Information: Postal: Asian Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
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