CEEAplA Working Paper Series 2007
Permanent URI for this collection
Browse
Browsing CEEAplA Working Paper Series 2007 by Author "Couto, Gualter"
Now showing 1 - 2 of 2
Results Per Page
Sort Options
- Measuring the impact of international financial reporting standards (ifrs) in firm reporting : The case of PortugalPublication . Silva, Francisco; Couto, Gualter; Cordeiro, Ruben MotaTo increase efficiency of the European finance market, the European Union (EU) recently forced all public companies to publish their financial disclosures with the support of the International Financial Reporting Standards (IFRS), emanated by the International Accounting Standards Board (IASB), beginning January 1, 2005. In this paper, we measure the impact of the application of IFRS to financial information of Portuguese public companies belonging to the Eurolist by Euronext Lisbon. The results show that the Balance Sheet and Income Statement structures of the firms studied suffered relevant accounting conversions in the process of compliance. Nevertheless, we did not find a clear pattern for the accounting variations. IFRS implementation conditioned the measure made to the performance and the financial position of the business companies in Portugal.
- Optimal timing of relocationPublication . Azevedo-Pereira, José; Couto, Gualter; Nunes, CláudiaIn this paper we tackle the problem of the optimal relocation policy for a firm that faces two types of uncertainty: one about the moments in which new (and more efficient) sites will become available; and the other regarding the degree of efficiency improvement inherent to each one of these new, yet to be known, potential location places. In particular, we derive results concerning the expected optimal timing for relocation, the corresponding volatility and the value of the firm under the optimal relocation policy. Impacts on the final results driven by the characteristics of the firm´s original location site, the market environment and the way in which risk is modeled, are studied numerically. The overall results are in line with economic intuition.