Los factores explicativos de la divulgación por segmentos en entidades no financieras cotizadas en los mercados europeos

Pedro Amado,Nuno Rodrigues,Fábio Albuquerque

doi:10.22201/fca.24488410e.2018.1629

Pedro Amado, Nuno Rodrigues + Show 1 more

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https://doi.org/10.22201/fca.24488410e.2018.1629

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Abstract

Segment reporting (external) is a relevant tool for investors and other stakeholders, as the information is presented in a divisional way, enabling more accurate analysis to be made for decision making. However, reporting entities do not always assure the inherent potential of segment reporting. This research aims to identify the explanatory factors that may influence the level of segment disclosure. For this purpose, we have investigated the segment disclosures presented in accordance with the International Financial Reporting Standards (IFRS) 8 of the International Accounting Standards Board (IASB), as adopted by the European Union, based on consolidated reports and accounts (for the year 2015) of a sample of 91 entities from the Portuguese Stock Index (PSI-20), Cotation Assistée en Continu (CAC-40), Deutscher Aktienindex (DAX-30) and OMX Nordic 40 (OMX-N40). The findings indicate that size is directly related to both the number of operating segments disclosed and the level of disclosure required for each segment. Further, the latter seems to be also influenced by the existence of barriers to entry (directly) and the degree of internationalisation (inversely).

Highlights

Despite the potential of segment reporting, accounting regulations play an important role in the regulation / imposition of reporting by segments abroad, since in this way the entities more clearly identify the information by segments that, due to their relevance, must disclose to the users of the financial statements (FS).The International Financial Reporting Standards (IFRS) 8 Operating Segments, which replaced the International Accounting Standard (IAS) 14 with the same denomination, intrinsically contemplates a “management approach” that has been the subject of some criticism, since in the genesis not all entities substantially disclose the information by segment, namely on geographical areas.This, in turn, results in the non-disclosure of all the information required by IFRS 8 by some entities
This paper investigates the explanatory factors associated with the level of segment disclosure, including the level of compliance with the disclosures required by IFRS 8 for each operating segment
Two models of multiple linear regression, expressed in the two Equations below (1.1 and 1.2), were established, which structure and summarize the dependent and independent variables used in the analysis of the hypotheses formulated on the explanatory factors of the disclosure of information by segment: analysis of the explanatory factors associated with the number of operating segments disclosed: analysis of the explanatory factors associated with the level of disclosure of information required by IFRS 8 for each operating segment: For the defined hypotheses it is important to emphasize the approaches used in the treatment of the information collected in order to give them an adequate response

Summary

Introduction

The International Financial Reporting Standards (IFRS) 8 Operating Segments, which replaced the International Accounting Standard (IAS) 14 with the same denomination, intrinsically contemplates a “management approach” that has been the subject of some criticism, since in the genesis not all entities substantially disclose the information by segment, namely on geographical areas. This, in turn, results in the non-disclosure of all the information required by IFRS 8 by some entities. In this context, there may be explanatory factors regarding the difference in attitude among entities regarding the level of disclosure of information by segment. The “management approach” used by IFRS 8 is not consensual, especially among the users of FS, who have some disadvantages

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