Purpose

This paper aims to test whether the extent of compliance with International Financial Reporting Standards (IFRS) 7 requirements is value relevant and whether it influences the value relevance of the firm's accounting information (book value of shareholders' equity and net income).

Design/methodology/approach

The sample for this paper consists of 288 financial institutions listed on the Toronto Stock Exchange (TSX) from 2016 to 2019. Panel regressions have been used in this study.

Findings

The findings reveal that compliance with IFRS 7 is positively associated with the firm's market value. After making a classification between high-compliance and low-compliance companies, the authors' results indicate that the compliance level is positively associated with the value relevance of net income. Surprisingly, when examining the value relevance of financial instruments disclosures (FID) supplied after the adoption of IFRS 9, the authors find that book values of shareholders' equity and earnings are not more value relevant in the post-IFRS 9 period.

Research limitations/implications

Given that the authors' analysis has been restricted to the Canadian setting, the regression results might not be generalized for other countries with different capital markets features.

Practical implications

The authors' findings point out that FID can affect investors' decisions as well as their confidence in the companies in which they invest. Hence, the regulatory bodies should gear more efforts to ensure high-compliance levels.

Originality/value

To the best of the authors' knowledge, this research is among the first attempts to investigate whether the new FID (after the adoption of IFRS 9) improves the firm disclosure quality and enhances the value relevance of accounting information.

中文翻译：

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遵守 IFRS 7 的价值相关性：来自加拿大的证据

目的

本文旨在测试国际财务报告准则（IFRS）7要求的遵守程度是否具有价值相关性，以及是否影响公司会计信息（股东权益的账面价值和净利润）的价值相关性。

设计/方法论/途径

本文的样本包括 2016 年至 2019 年在多伦多证券交易所 (TSX) 上市的 288 家金融机构。本研究使用了面板回归。

发现

调查结果显示，遵守 IFRS 7 与公司的市场价值呈正相关。在对高合规公司和低合规公司进行分类后，作者的结果表明，合规水平与净利润的价值相关性呈正相关。令人惊讶的是，在审查采用 IFRS 9 后提供的金融工具披露 (FID) 的价值相关性时，作者发现股东权益和收益的账面价值在 IFRS 9 后的时期并没有更具价值相关性。

研究局限性/影响

鉴于作者的分析仅限于加拿大背景，回归结果可能无法推广到具有不同资本市场特征的其他国家。

实际影响

作者的研究结果指出，最终投资决定会影响投资者的决策以及他们对所投资公司的信心。因此，监管机构应加大力度确保高合规水平。

原创性/价值

据作者所知，本研究是首次尝试调查新的 FID（在采用 IFRS 9 后）是否提高了公司披露质量并增强了会计信息的价值相关性。