ABSTRACT

The IASB's post-implementation review of IFRS 13 Fair Value Measurement motivates our analysis of the evolution of the value relevance of fair value (FV) levels over time on banks that report under IFRS and U.S. GAAP. For both sets of standards, results provide evidence that is consistent with (1) an increase in value relevance across all three FV levels over time, and (2) a convergence of the value relevance of the three FV levels over time. However, FV levels exhibit systematically higher value relevance under U.S. GAAP compared to IFRS. Such gap has closed to some extent since the enactment of IFRS 13. This evolution is likely due to learning about FV accounting and changes in financial reporting regulations that increased disclosure requirements. These findings confirm the IASB's conclusions that FV levels’ disclosure is useful to users of financial statements, but also emphasizes preparers and investors’ learning over time.

摘要

IASB 对 IFRS 13公允价值计量的实施后审查促使我们对根据 IFRS 和 US GAAP 报告的银行的公允价值 (FV) 水平的价值相关性随时间的演变进行分析。对于这两组标准，结果提供的证据与 (1) 所有三个 FV 级别的价值相关性随时间增加，以及 (2) 三个 FV 级别的价值相关性随着时间的推移趋同。然而，与 IFRS 相比，FV 水平在 US GAAP 下系统地表现出更高的价值相关性。自 IFRS 13 颁布以来，这种差距已在一定程度上缩小。这种演变可能是由于了解 FV 会计以及财务报告法规的变化增加了披露要求。这些发现证实了 IASB 的结论，即公允价值水平的披露对财务报表使用者有用，