Usefulness of fair valuation of biological assets for cash flow prediction

This study develops an empirical analysis of the relevance of accounting information when biological assets are measured at fair value. We use an international sample of firms with biological assets.We find that biological assets influence unpredictability when they are measured at historical cost (...

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Detalles Bibliográficos
Autores: Argilés Bosch, Josep M., Miarons Blanco, Meritxell, García Blandón, Josep, Benavente, Carmen, Ravenda, Diego
Tipo de recurso: artículo
Estado:Versión aceptada para publicación
Fecha de publicación:2018
País:España
Institución:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
Repositorio:Recercat. Dipósit de la Recerca de Catalunya
OAI Identifier:oai:recercat.cat:2445/122401
Acceso en línea:https://hdl.handle.net/2445/122401
Access Level:acceso abierto
Palabra clave:Economia agrària
Informació comptable
Models biològics
Flux de caixa
Empirisme
Valor (Economia)
Agricultural economics
Disclosure in accounting
Biological models
Cash-flow
Empiricism
Value (Economics)
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repository_id_str
spelling Usefulness of fair valuation of biological assets for cash flow predictionArgilés Bosch, Josep M.Miarons Blanco, MeritxellGarcía Blandón, JosepBenavente, CarmenRavenda, DiegoEconomia agràriaInformació comptableModels biològicsFlux de caixaEmpirismeValor (Economia)Agricultural economicsDisclosure in accountingBiological modelsCash-flowEmpiricismValue (Economics)This study develops an empirical analysis of the relevance of accounting information when biological assets are measured at fair value. We use an international sample of firms with biological assets.We find that biological assets influence unpredictability when they are measured at historical cost (HC). In this case, the ability of accounting data to predict future cash flows diminishes as the proportion of biological assets on total assets increases. The valuation at fair value (FV) switches this negative influence of biological assets to a positive one. We find that when they are measured at FV, the prediction accuracy of future cash flows improves as the ratio of biological assets to total assets increases. This evidence is robust to differentmeasures of prediction accuracy, as well as to the improvement of accounting standards, regardless of FV, over time. The evidence is weaker for bearer plants.Taylor and Francis2018202020182018info:eu-repo/semantics/articleinfo:eu-repo/semantics/acceptedVersion24 p.application/pdfhttps://hdl.handle.net/2445/122401Articles publicats en revistes (Empresa)reponame:Recercat. Dipósit de la Recerca de Catalunyainstname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)InglésVersió postprint del document publicat a: https://www.tandfonline.com/doi/full/10.1080/02102412.2017.1389549Spanish Journal Of Finance And Accounting-Revista Espanola de Financiacion y Contabilida, 2018, vol. 47, num. 2, p. 157-180(c) Taylor and Francis, 2018info:eu-repo/semantics/openAccessoai:recercat.cat:2445/1224012026-05-29T05:05:01Z
dc.title.none.fl_str_mv Usefulness of fair valuation of biological assets for cash flow prediction
title Usefulness of fair valuation of biological assets for cash flow prediction
spellingShingle Usefulness of fair valuation of biological assets for cash flow prediction
Argilés Bosch, Josep M.
Economia agrària
Informació comptable
Models biològics
Flux de caixa
Empirisme
Valor (Economia)
Agricultural economics
Disclosure in accounting
Biological models
Cash-flow
Empiricism
Value (Economics)
title_short Usefulness of fair valuation of biological assets for cash flow prediction
title_full Usefulness of fair valuation of biological assets for cash flow prediction
title_fullStr Usefulness of fair valuation of biological assets for cash flow prediction
title_full_unstemmed Usefulness of fair valuation of biological assets for cash flow prediction
title_sort Usefulness of fair valuation of biological assets for cash flow prediction
dc.creator.none.fl_str_mv Argilés Bosch, Josep M.
Miarons Blanco, Meritxell
García Blandón, Josep
Benavente, Carmen
Ravenda, Diego
author Argilés Bosch, Josep M.
author_facet Argilés Bosch, Josep M.
Miarons Blanco, Meritxell
García Blandón, Josep
Benavente, Carmen
Ravenda, Diego
author_role author
author2 Miarons Blanco, Meritxell
García Blandón, Josep
Benavente, Carmen
Ravenda, Diego
author2_role author
author
author
author
dc.subject.none.fl_str_mv Economia agrària
Informació comptable
Models biològics
Flux de caixa
Empirisme
Valor (Economia)
Agricultural economics
Disclosure in accounting
Biological models
Cash-flow
Empiricism
Value (Economics)
topic Economia agrària
Informació comptable
Models biològics
Flux de caixa
Empirisme
Valor (Economia)
Agricultural economics
Disclosure in accounting
Biological models
Cash-flow
Empiricism
Value (Economics)
description This study develops an empirical analysis of the relevance of accounting information when biological assets are measured at fair value. We use an international sample of firms with biological assets.We find that biological assets influence unpredictability when they are measured at historical cost (HC). In this case, the ability of accounting data to predict future cash flows diminishes as the proportion of biological assets on total assets increases. The valuation at fair value (FV) switches this negative influence of biological assets to a positive one. We find that when they are measured at FV, the prediction accuracy of future cash flows improves as the ratio of biological assets to total assets increases. This evidence is robust to differentmeasures of prediction accuracy, as well as to the improvement of accounting standards, regardless of FV, over time. The evidence is weaker for bearer plants.
publishDate 2018
dc.date.none.fl_str_mv 2018
2018
2018
2020
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/acceptedVersion
format article
status_str acceptedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/2445/122401
url https://hdl.handle.net/2445/122401
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Versió postprint del document publicat a: https://www.tandfonline.com/doi/full/10.1080/02102412.2017.1389549
Spanish Journal Of Finance And Accounting-Revista Espanola de Financiacion y Contabilida, 2018, vol. 47, num. 2, p. 157-180
dc.rights.none.fl_str_mv (c) Taylor and Francis, 2018
info:eu-repo/semantics/openAccess
rights_invalid_str_mv (c) Taylor and Francis, 2018
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 24 p.
application/pdf
dc.publisher.none.fl_str_mv Taylor and Francis
publisher.none.fl_str_mv Taylor and Francis
dc.source.none.fl_str_mv Articles publicats en revistes (Empresa)
reponame:Recercat. Dipósit de la Recerca de Catalunya
instname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
instname_str Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
reponame_str Recercat. Dipósit de la Recerca de Catalunya
collection Recercat. Dipósit de la Recerca de Catalunya
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.811543

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