Naslov (srp)

Efekti primene računovodstva fer vrednosti na finansijski položaj i prinosnu snagu banaka

Autor

Gračanin, Šaban, 1980-

Doprinosi

Obradović, Vladimir, 1978-
Spasić, Dejan, 1968-
Todorović, Violeta, 1972-
Stančić, Vladimir P., 1985-

Opis (eng)

The doctoral dissertation examines the impact of Fair Value Accounting (FVA)application on the financial position and performance of banks and, through that, thebusiness decisions made by financial market participants.Empirical research of the banking sector in the Republic of Serbia reveals that thebank’s profitability indicators (ROA and ROE) determined in terms when all financialassets and all financial liabilities are measured at fair value statistically significantly differfrom the same indicators determined by measuring these assets and liabilities according tothe historical cost model. However, the influence of FVA applied in the context of thecurrent concept of mixed measurement of assets and liabilities on banks’ profitabilitymeasured by the same indicators is not statistically significant. The effects of theapplication of FVA on the financial position of banks in the Republic of Serbia are not at astatistically significant level.Modality in which the periodic result of banks is measured affects investors’perceptions regarding market values of banks’ capital and market risks to which banks inthe Republic of Serbia are exposed. Statistically significant impact of FVA on bank shareprice, short-term and long-term interest rates on the financial market is identified in termswhen all financial assets and all financial liabilities are measured at fair value. The impactof changes in net income, which include only certain fair value changes of financialinstruments, on bank stock prices, short-term and long-term interest rates is not statisticallysignificant. Changes in comprehensive income, which include additional, but again not all,fair value changes of financial instruments, have a statistically significant impact on longterm interest rates, while the impact on bank stock prices and short-term interest rates isnot statistically significant.The research shows that the profitability of banks in the Republic of Serbia is morevolatile during the time when FVA is applied than when historical cost accounting isapplied. Participants in the financial market perceive increased volatility of the banks’periodic results, caused by FVA as a consequence of changes in the real economicperformance of banks and financial risks to which banks are exposed. The researchsuggests that the periodic results determined by applying the full concept of FVA would beperceived by financial market participants as the best measure of the real economicperformance of banks and market risks to which banks are exposed, and that thereforedisclosure and recognition can be treated as alternative accounting treatments regardingfinancial instruments and that the reform of financial reporting standards that affect FVAshould be directed towards the full FVA concept approach, as a concept that impliesmeasuring all financial assets and liabilities at fair value.

Opis (srp)

U doktorskoj disertaciji ispituje se uticaj primene računovodstva fervrednosti (RFV) na finansijski položaj i prinosnu snagu banaka i, posredstvomtoga, poslovne odluke koje donose učesnici na finansijskom tržištu.Empirijsko istraživanje bankarskog sektora Republike Srbije otkriva da sepokazatelji prinosne snage banaka (ROA i ROE) utvrđeni u uslovima kada se svafinansijska sredstva i sve finansijske obaveze mere po fer vrednosti statističkiznačajno razlikuju od istih pokazatelja utvrđenih merenjem tih sredstava i obavezapo modelu zasnovanom na istorijskom trošku. Međutim, uticaj RFV koje seprimenjuje u kontekstu aktuelnog koncepta mešovitog merenja sredstava i obavezana profitabilnost banaka merenu istim pokazateljima nije statistički značajan.Efekti primene RFV na finansijski položaj banaka u Republici Srbiji nisu nastatistički značajnom nivou.Način na koji se meri periodični rezultat banaka utiče na percepcijeinvestitora u vezi sa visinom tržišne vrednosti kapitala banaka i tržišnimrizicima kojima su banke u Republici Srbiji izložene. Statistički značajanuticaj RFV na cene akcija banaka i kratkoročne i dugoročne kamatne stope nafinansijskom tržištu identifikovan je u uslovima kada se sva finansijskasredstva i sve finansijske obaveze mere po fer vrednosti. Uticaj promena netorezultata, u koji se uključuju samo određene promene fer vrednosti finansijskihinstrumenata, na cene akcija banaka i kratkoročne i dugoročne kamatne stope nijestatistički značajan. Promene ukupnog rezultata, koji uključuje dodatne, aliponovo ne sve, promene fer vrednosti finansijskih instrumenata, ima statističkiznačajan uticaj na dugoročne kamatne stope, dok uticaj na cene akcija banaka ikratkoročne kamatne stope nije statistički značajan.Istraživanje pokazuje da je profitabilnost banaka u Republici Srbijipodložnija promenama u vremenu kada se primenjuje RFV nego kada se primenjujeračunovodstvo istorijskog troška. Učesnici na finansijskom tržištupercipiraju uvećanu promenljivost periodičnog rezultata usled primene RFV kaoposledicu promena realnih ekonomskih performansi banaka i finansijskih rizikakojima su one izložene. Istraživanje sugeriše da bi učesnici na finansijskomtržištu periodični rezultat koji bi se utvrdio primenom punog koncepta RFVpercipirali kao najkvalitetniju meru realnih ekonomskih performansi banaka itržišnih rizika kojima su one izložene, iz čega sledi da se obelodanjivanje ipriznavanje mogu tretirati kao alternativni računovodstveni postupci (tretmani)kada su u pitanju finansijski instrumenti i da reformu standarda finansijskogizveštavanja koji tangiraju RFV treba usmeriti ka približavanju konceptu punogRFV, kao konceptu koji podrazumeva da se sva finansijska sredstva i svefinansijske obaveze mere po fer vrednosti.

Opis (srp)

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Jezik

srpski

Datum

2022

Licenca

Creative Commons licenca
Ovo delo je licencirano pod uslovima licence
Creative Commons CC BY 3.0 AT - Creative Commons Autorstvo 3.0 Austria License.

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Identifikatori