Consequences of financial reporting quality on corporate performanceEvidence at the international level

  1. Jennifer Martínez-Ferrero
Revista:
Estudios de economía

ISSN: 0304-2758,  0718-5286

Año de publicación: 2014

Volumen: 41

Número: 1

Páginas: 49-88

Tipo: Artículo

DOI: 10.4067/S0718-52862014000100002 DIALNET GOOGLE SCHOLAR lock_openDialnet editor

Otras publicaciones en: Estudios de economía

Resumen

Este trabajo examina las consecuencias de la Calidad de Información Financiera (FRQ) en el desempeño empresarial, con tres alternativas de FRQ: (i) earnings quality, (ii) conservadurismo, y (iii) accruals quality. Nuestro objetivo es analizar el efecto de la FRQ en el rendimiento financiero (FP) medido por el valor de mercado. A tal efecto, las hipótesis propuestas son testadas para una muestra de 1.960 empresas internacionales, no financieras de 24 países y una Región Administrativa para el período 2002-2010. El uso de ecuaciones simultáneas para datos de panel, a través del estimador GMM propuesto por Arellano y Bond (1991), pone de manifiesto el efecto positivo de la FRQ sobre el resultado financiero. Este resultado es robusto, de acuerdo con las diferentes medidas de FRQ y para una medida agregada que contemple las tres proxies anteriores. La evidencia empírica obtenida muestra cómo dicha relación se ve moderada por el nivel de percepción de la corrupción en el país de origen de la compañía, la adopción de las IFRS, el sistema contable característico del país y, por último, la influencia del ciclo económico.

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