Mercados de capitales y modelos de valoración de inversiones inmobiliarias. Un análisis pre y post-crisis

Capital markets and valuation models of investment properties. A pre and post crisis analysis

Autores/as

DOI: https://doi.org/10.6018/rcsar.431411
Palabras clave: inversiones inmobiliarias; relevancia; modelo de Ohlson; modelo de valor razonable; modelo de coste histórico

Resumen

Este trabajo analiza el efecto de los modelos de valor razonable y coste histórico, aplicables opcionalmente según la NIC 40 para las inversiones inmobiliarias, sobre el valor de mercado de los grupos inmobiliarios cotizados españoles entre 2005 y 2018. Los resultados de la aplicación del Modelo de Ohlson no sugieren relación alguna de la información financiera con el valor de cotización en los períodos de pre-crisis y crisis económica. Sin embargo, en el período post-crisis, la información financiera representada por el valor en libros gana en relevancia, mostrando una relación positiva significativa con el valor de mercado de las empresas inmobiliarias, aunque sugiriendo una reducción en la asimetría de la información financiera en las empresas que utilizan el método del valor razonable.

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Biografía del autor/a

Ana Licerán-Gutiérrez, Universidad de Jaén

Double degree in Business and Administration + Law. (2005-2011). 8 Months of experience in an auditing firm (Foro Auditores SL). Teaching assisstant at the University of Jaén 2011/2012 (Bachelor teaching: market finances, financial management, accounting financial statements analysis, short-term assets management, consolidated financial statements, management accounting, strategic accounting, introduction to accounting, corporate finances. Master studies teaching: advanced accounting in the Master of Business Administration, and information systems in the Master of Transport and Logistics). Teacher in Centro de Estudios Épsilon S.L. (financial and management accounting and financial management) during 2 years. Researcher at the University of Jaén (FPI Acción 16 research fellowship: 2014-2018), and teacher at the University of Jaén, currently working. Research stay at the Universidad Carlos III de Madrid, campus Getafe (01/02/15 - 30/04/15) and at the Unviersity of Bristol, United Kingdom (01/05/17 - 31/07/17). Researching on earnings quality (prepairing my thesis so as to become a PhD; the doctoral thesis dissertation will take place on January, 2019).

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Publicado
01-07-2022
Cómo citar
Horno-Bueno, M. P., Licerán-Gutiérrez, A., & Bautista-Mesa, R. (2022). Mercados de capitales y modelos de valoración de inversiones inmobiliarias. Un análisis pre y post-crisis: Capital markets and valuation models of investment properties. A pre and post crisis analysis. Revista de Contabilidad - Spanish Accounting Review, 25(2), 233–243. https://doi.org/10.6018/rcsar.431411
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