The Experts below are selected from a list of 20109 Experts worldwide ranked by ideXlab platform
Thorsten Sellhorn - One of the best experts on this subject based on the ideXlab platform.
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mandatory fair value accounting and information asymmetry evidence from the european Real Estate Industry
Management Science, 2011Co-Authors: Karl A Muller, Edward J Riedl, Thorsten SellhornAbstract:We examine the effects of mandating the provision of fair value information for long-lived tangible assets on firms' information asymmetry. Specifically, we investigate whether European Real Estate firms' compulsory adoption of International Accounting Standard 40 (IAS 40; Investment Property), which mandated the provision of investment property fair values in 2005, resulted in reduced information asymmetry across market participants. Using as a control group firms that voluntarily provided these fair values prior to the mandatory adoption of IAS 40, we find that mandatory adoption firms exhibit a larger decline in information asymmetry, as reflected in lower bid--ask spreads. However, we also find that mandatory adoption firms continue to have higher information asymmetry than voluntary adoption firms, which appears partially attributable to the lower reliability of fair values reported by the mandatory adoption firms. Together, this evidence adds to the debate on fair value accounting by demonstrating that common adoption of fair value, even for long-lived tangible assets, under a mandatory reporting regime can reduce, but not necessarily eliminate, information asymmetry differences across firms. This paper was accepted by Stefan Reichelstein, accounting.
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mandatory fair value accounting and information asymmetry evidence from the european Real Estate Industry
Social Science Research Network, 2011Co-Authors: Karl A Muller, Edward J Riedl, Thorsten SellhornAbstract:We examine the effects of mandating the provision of fair value information for long-lived tangible assets on firms’ information asymmetry. Specifically, we investigate whether European Real Estate firms’ compulsory adoption of International Accounting Standard 40 - Investment Property (IAS 40), which mandated the provision of investment property fair values in 2005, resulted in reduced information asymmetry across market participants. Using as a control group firms that voluntarily provided these fair values prior to the mandatory adoption of IAS 40, we find that mandatory adoption firms exhibit a larger decline in information asymmetry, as reflected in lower bid-ask spreads. However, we also find that mandatory adoption firms continue to have higher information asymmetry than voluntary adoption firms, which appears partially attributable to the lower reliability of fair values reported by the mandatory adoption firms. Together, this evidence adds to the debate on fair value accounting by demonstrating that common adoption of fair value, even for long-lived tangible assets, under a mandatory reporting regime can reduce, but not necessarily eliminate, information asymmetry differences across firms.
Karl A Muller - One of the best experts on this subject based on the ideXlab platform.
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mandatory fair value accounting and information asymmetry evidence from the european Real Estate Industry
Management Science, 2011Co-Authors: Karl A Muller, Edward J Riedl, Thorsten SellhornAbstract:We examine the effects of mandating the provision of fair value information for long-lived tangible assets on firms' information asymmetry. Specifically, we investigate whether European Real Estate firms' compulsory adoption of International Accounting Standard 40 (IAS 40; Investment Property), which mandated the provision of investment property fair values in 2005, resulted in reduced information asymmetry across market participants. Using as a control group firms that voluntarily provided these fair values prior to the mandatory adoption of IAS 40, we find that mandatory adoption firms exhibit a larger decline in information asymmetry, as reflected in lower bid--ask spreads. However, we also find that mandatory adoption firms continue to have higher information asymmetry than voluntary adoption firms, which appears partially attributable to the lower reliability of fair values reported by the mandatory adoption firms. Together, this evidence adds to the debate on fair value accounting by demonstrating that common adoption of fair value, even for long-lived tangible assets, under a mandatory reporting regime can reduce, but not necessarily eliminate, information asymmetry differences across firms. This paper was accepted by Stefan Reichelstein, accounting.
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mandatory fair value accounting and information asymmetry evidence from the european Real Estate Industry
Social Science Research Network, 2011Co-Authors: Karl A Muller, Edward J Riedl, Thorsten SellhornAbstract:We examine the effects of mandating the provision of fair value information for long-lived tangible assets on firms’ information asymmetry. Specifically, we investigate whether European Real Estate firms’ compulsory adoption of International Accounting Standard 40 - Investment Property (IAS 40), which mandated the provision of investment property fair values in 2005, resulted in reduced information asymmetry across market participants. Using as a control group firms that voluntarily provided these fair values prior to the mandatory adoption of IAS 40, we find that mandatory adoption firms exhibit a larger decline in information asymmetry, as reflected in lower bid-ask spreads. However, we also find that mandatory adoption firms continue to have higher information asymmetry than voluntary adoption firms, which appears partially attributable to the lower reliability of fair values reported by the mandatory adoption firms. Together, this evidence adds to the debate on fair value accounting by demonstrating that common adoption of fair value, even for long-lived tangible assets, under a mandatory reporting regime can reduce, but not necessarily eliminate, information asymmetry differences across firms.
Edward J Riedl - One of the best experts on this subject based on the ideXlab platform.
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mandatory fair value accounting and information asymmetry evidence from the european Real Estate Industry
Management Science, 2011Co-Authors: Karl A Muller, Edward J Riedl, Thorsten SellhornAbstract:We examine the effects of mandating the provision of fair value information for long-lived tangible assets on firms' information asymmetry. Specifically, we investigate whether European Real Estate firms' compulsory adoption of International Accounting Standard 40 (IAS 40; Investment Property), which mandated the provision of investment property fair values in 2005, resulted in reduced information asymmetry across market participants. Using as a control group firms that voluntarily provided these fair values prior to the mandatory adoption of IAS 40, we find that mandatory adoption firms exhibit a larger decline in information asymmetry, as reflected in lower bid--ask spreads. However, we also find that mandatory adoption firms continue to have higher information asymmetry than voluntary adoption firms, which appears partially attributable to the lower reliability of fair values reported by the mandatory adoption firms. Together, this evidence adds to the debate on fair value accounting by demonstrating that common adoption of fair value, even for long-lived tangible assets, under a mandatory reporting regime can reduce, but not necessarily eliminate, information asymmetry differences across firms. This paper was accepted by Stefan Reichelstein, accounting.
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mandatory fair value accounting and information asymmetry evidence from the european Real Estate Industry
Social Science Research Network, 2011Co-Authors: Karl A Muller, Edward J Riedl, Thorsten SellhornAbstract:We examine the effects of mandating the provision of fair value information for long-lived tangible assets on firms’ information asymmetry. Specifically, we investigate whether European Real Estate firms’ compulsory adoption of International Accounting Standard 40 - Investment Property (IAS 40), which mandated the provision of investment property fair values in 2005, resulted in reduced information asymmetry across market participants. Using as a control group firms that voluntarily provided these fair values prior to the mandatory adoption of IAS 40, we find that mandatory adoption firms exhibit a larger decline in information asymmetry, as reflected in lower bid-ask spreads. However, we also find that mandatory adoption firms continue to have higher information asymmetry than voluntary adoption firms, which appears partially attributable to the lower reliability of fair values reported by the mandatory adoption firms. Together, this evidence adds to the debate on fair value accounting by demonstrating that common adoption of fair value, even for long-lived tangible assets, under a mandatory reporting regime can reduce, but not necessarily eliminate, information asymmetry differences across firms.
Rolf T Wigand - One of the best experts on this subject based on the ideXlab platform.
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digital assemblages evidence and theorising from the computerisation of the us residential Real Estate Industry
New Technology Work and Employment, 2014Co-Authors: Steve Sawyer, Kevin Crowston, Rolf T WigandAbstract:We develop the concept of digital assemblages in order to advance current theorising on the ways in which information and communication technologies (ICTs) are helping to reshape work. The empirical setting is the US residential Real Estate Industry—a ‘living laboratory’ for studying information-intensive work and the adoption and uses of ICT. We find that Real Estate agents' uses of ICT are pervasive and suggest that agents now embed themselves more deeply into the transacting of Real Estate by actively supporting buyers and sellers, rather than acting primarily as information intermediaries. Building from this, we theorise that this ICT use can more coherently be understood as a ‘digital assemblage’ rather than a formal information system. Digital assemblages are characterised as distinct patterns of ICT collections that, in use, are functionally equivalent and structurally similar, relying on standardised and commodified ICT and are neither formally designed nor collectively governed.
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the social embeddedness of transactions evidence from the residential Real Estate Industry
The Information Society, 2003Co-Authors: Steve Sawyer, Kevin Crowston, Rolf T Wigand, Marcel M AllbrittonAbstract:Information and communications technologies (ICT) are becoming pervasive in the residential Real-Estate Industry and their usage is affecting the work lives of Real-Estate agents. Drawing on data from a regional study of the residential Real-Estate Industry in the United States, we focus on the disintermediation or, more accurately, the reintermediation of Real-Estate agents in the sales process. Using data collected from interviews, direct observation, and archival records, we examine how Real-Estate agents are (1) taking advantage of new ICT in their work, and (2) protecting themselves from others wishing to displace their position in the Real-Estate value chain. Our analysis of this activity draws on two contrasting theoretical perspectives to illuminate the roles of residential Real-Estate agents: transaction cost and social capital. The results of this study provide insights into the ways in which ICT are used to build and draw on the social relationships that underpin the actual transactions, to hel...
Steve Sawyer - One of the best experts on this subject based on the ideXlab platform.
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digital assemblages evidence and theorising from the computerisation of the us residential Real Estate Industry
New Technology Work and Employment, 2014Co-Authors: Steve Sawyer, Kevin Crowston, Rolf T WigandAbstract:We develop the concept of digital assemblages in order to advance current theorising on the ways in which information and communication technologies (ICTs) are helping to reshape work. The empirical setting is the US residential Real Estate Industry—a ‘living laboratory’ for studying information-intensive work and the adoption and uses of ICT. We find that Real Estate agents' uses of ICT are pervasive and suggest that agents now embed themselves more deeply into the transacting of Real Estate by actively supporting buyers and sellers, rather than acting primarily as information intermediaries. Building from this, we theorise that this ICT use can more coherently be understood as a ‘digital assemblage’ rather than a formal information system. Digital assemblages are characterised as distinct patterns of ICT collections that, in use, are functionally equivalent and structurally similar, relying on standardised and commodified ICT and are neither formally designed nor collectively governed.
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the social embeddedness of transactions evidence from the residential Real Estate Industry
The Information Society, 2003Co-Authors: Steve Sawyer, Kevin Crowston, Rolf T Wigand, Marcel M AllbrittonAbstract:Information and communications technologies (ICT) are becoming pervasive in the residential Real-Estate Industry and their usage is affecting the work lives of Real-Estate agents. Drawing on data from a regional study of the residential Real-Estate Industry in the United States, we focus on the disintermediation or, more accurately, the reintermediation of Real-Estate agents in the sales process. Using data collected from interviews, direct observation, and archival records, we examine how Real-Estate agents are (1) taking advantage of new ICT in their work, and (2) protecting themselves from others wishing to displace their position in the Real-Estate value chain. Our analysis of this activity draws on two contrasting theoretical perspectives to illuminate the roles of residential Real-Estate agents: transaction cost and social capital. The results of this study provide insights into the ways in which ICT are used to build and draw on the social relationships that underpin the actual transactions, to hel...
