¿La supervisión de la Comisión de Valores reduce la complejidad de los informes financieros?

Does Securities Commission Oversight Reduce the Complexity of Financial Reporting?

Palabras clave: Comisiones de Valores, Complejidad, Comportamiento gerencial oportunista, Costes de procesamiento de la información, Efecto indirecto, Confusión de la información


En este trabajo se investiga si la supervisión de la Comisión de Valores reduce la complejidad de los informes financieros. Para ello se utilizan las cartas de opinión (comment letters) de la Comisión de Valores de Irán. Además, para medir dicha complejidad, se emplea el índice de Fog. Usando un diseño de diferencia en diferencias con la aproximación propensity score matching, se encuentra que la supervisión de la Comisión de Valores reduce esta complejidad. Además, se muestra que el impacto de la supervisión de las comisiones de valores en la complejidad de los informes financieros es mayor para las empresas con mayor calidad de gobierno corporativo.  También se documenta que este impacto (1) no se limita a un año y persiste al menos dos años después, y (2) no es mayor para las empresas que reciben más cartas de opinión (comment letters). Además, se constata el efecto indirecto de la supervisión de la comisión de valores, en el sentido de que las empresas que no reciben ninguna carta de opinión (comment letters) reducen la complejidad de sus informes financieros si la comisión de valores ha hecho comentarios sobre la empresa líder del sector o sobre un competidor cercano. En definitiva, este artículo proporciona, por un lado, evidencia relacionada con el debate internacional sobre si las comisiones de valores podrían tener efectos beneficiosos en la información financiera que elaboran las empresas y, por otro, contribuye a la literatura sobre la complejidad de los informes financieros y los factores que reducen la misma, lo cual ocupa un lugar destacado entre los temas más importantes en el contexto de la información financiera internacional.


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Cómo citar
Hesarzadeh, R., & Rajabalizadeh, J. (2020). ¿La supervisión de la Comisión de Valores reduce la complejidad de los informes financieros?. Revista De Contabilidad - Spanish Accounting Review, 23(1), 1-17. https://doi.org/10.6018/rcsar.389791