This study examines the initial impact of adopting the International Financial Reporting Standards (IFRS) in Chile, both on Chilean companies’ financial statements and on their capital market. The aspects that we consider relevant are the following: (1) applying a fair value to the measurement of non-current assets and (2) variations in stock price, in the companies that started applying the Full-IFRS in 2009. The results show that there are a significant number of companies that have experienced an increase in their book value equity (equal to or greater than 25 %). Nevertheless, the use of fair value in assets measurement is observed to be rare. With respect to market capitalization, this study shows that the publication of intermediate financial statements corresponding to the first quarter of 2009 may have generated a positive effect on stock prices on an average of 4.3 %.
|Title of host publication||IFRS in a Global World|
|Subtitle of host publication||International and Critical Perspectives on Accounting|
|Publisher||Springer International Publishing|
|Number of pages||15|
|State||Published - 1 Jan 2016|