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Has the amendment of IAS 19 increased the value-relevance of OCI in the Swedish stock market?
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.
2016 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesisAlternative title
Har ändringen av IAS 19 ökade värde relevans  av övrigt totalresultat i den svenska aktiemarknaden? (Swedish)
Abstract [en]

The evidence of this research paper suggests an increased value-relevance of OCI in the Swedish stock market after the 2011 amendment of IAS 19. This amendment eliminated the popular corridor approach that ‘smoothed’ the recognition of actuarial gains and losses and required companies instead to recognize such remeasurements directly to their full extent in OCI. We reason that the current economic environment marked by low interest rates together with demographic trends in life expectancy have amplified the impact of the standard revision on financial statements. Moreover, this research paper is conducted in a Swedish setting that is characterized by widespread occupational pension schemes. In line with informational accounting research, we use regression models to identify whether OCI has more explanatory power for stock market prices and returns. Shares listed on NASDAQ OMX Stockholm are investigated for this purpose. Furthermore, in the course of this research, we revisit the controversial debate on comprehensive income reporting and work out inconsistencies in current IFRS reporting.

Abstract [sv]

Beviset för den forskningen  föreslår att ökade värde-relevans av Övrigt totalresultat i den svenska aktiemarknaden efter 2011 p.g.a. ändringen av IAS 19. Ändringen eliminerade populära korridormetoden att "jämnas" erkännande av ackumulerade vinster och förluster och krävde företag istället erkänna sådana omvärderingar direkt i full utsträckning i övrigt totalresultat. Vi resonerar nuvarande ekonomiska läge som präglas av låga räntor tillsammans med den demografiska utvecklingen i den förväntade livslängden har förstärkt effekterna av standard ändring  i  finansiella rapporter. Dessutom är denna uppsats genomförts på Svensk arbetsmarknad som kännetecknas av omfattande tjänstepensionssystem. I linje med informations redovisning forskning använder vi regressionsmodeller för att identifiera om “Övrigt totalresultat”  har mer förklaring för börskurser och avkastning. Aktier noterade på NASDAQ OMX Stockholm undersöks för detta ändamål. Dessutom under den forskning, titta  vi närmare den kontroversiella debatten om totalresultat rapportering och gå igenom inkonsekvenser i nuvarande IFRS-redovisning.

Place, publisher, year, edition, pages
2016. , 107 p.
Series
Studier i företagsekonomi. Serie B, ISSN 0346-8291 ; B
Keyword [en]
Value-relevance; accounting standard change; pension accounting; IAS 19; defined benefit pensions; OCI; comprehensive income reporting.
Keyword [sv]
Värde-relevans; redovisningsreglers förändring; pensionsredovisning; IAS 19; förmånsbestämda pensioner; Övrigt totalresultat; totalresultat rapportering.
National Category
Business Administration
Identifiers
URN: urn:nbn:se:umu:diva-124029OAI: oai:DiVA.org:umu-124029DiVA: diva2:947282
Educational program
Master's Programme in Finance; Master's Programme in Accounting
Presentation
2016-06-02, S307, Samhällsvetarhuset, Handelshögskolan Biblioteksgränd 6 postal 901 87, Umeå, 08:00 (English)
Supervisors
Examiners
Available from: 2016-07-07 Created: 2016-07-07 Last updated: 2016-07-07Bibliographically approved

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