التفاصيل البيبلوغرافية
| العنوان: |
Speculations about the relationship between financial statements and economic growth in inflationary scenarios ; Especulaciones acerca de la relación entre los estados financieros y el crecimiento económico en escenarios inflacionarios |
| المؤلفون: |
Zgaib, Alfredo |
| المصدر: |
Proyecciones; Nr. 17: mayo 2023 - abril 2024; 024 ; Proyecciones; No. 17: mayo 2023 - abril 2024; 024 ; Proyecciones; Núm. 17: mayo 2023 - abril 2024; 024 ; Proyecciones; N. 17: mayo 2023 - abril 2024; 024 ; 2618-5474 ; 1850-6542 |
| بيانات النشر: |
Instituto de Investigaciones y Estudios Contables. Facultad de Ciencias Económicas. Universidad Nacional de la Plata. Argentina. |
| سنة النشر: |
2023 |
| المجموعة: |
Universidad Nacional de La Plata: Portal del Revistas del UNLP |
| مصطلحات موضوعية: |
inflación, estados contables en moneda homogénea, teorías del crecimiento económico, mercado bursátil argentino, inflation, financial reporting in hyperinflationary economies, economic growth theories, Argentine stock market |
| الوصف: |
The extent to which financial statements not adjusted for inflation, in contexts characterized by increases in the general level of prices, limit the ability of such information to affect stock prices has been poorly explored. This gap prompted us to design a research project that proposes, precisely, to compare the impact of balance sheet figures expressed in nominal and real terms on the price of such equity instruments. In this study we contrast an outline of this project, and its main hypotheses, with four theories about economic growth: those reflected by the neoclassical models, the information economy, rational expectations and the new institutional economy. The scenario chosen to carry out the project is the stock market of Argentina, a country that makes this comparison possible since these conditions do not exist in the rest of the world. Firstly, the persistence of periods with high inflation in a predominantly stable global context (or slightly inflationary after the expansionary policies implemented to mitigate the consequences of COVID). Secondly, accounting standards that require the issuance of financial statements in a homogeneous currency only when the inflation rate exceeds 100% accumulated in three years. Such regulation led to the submission of both historical and adjusted balance sheets, in different but equally characterized periods of high inflation. If the execution of our proposal confirms the relevance of the hypothesis that adjusted accounting information reflects stock prices more accurately than historical financial statements, we can venture that the models proposed by the information and the new institutional economics better explain economic behavior, at least in this inflationary environment. On the contrary, if this hypothesis were to be refuted or, at least, contradicted after a time during which market participants adjust their forecasts, the balance is tipped in favor of the neoclassical model or the theory of rational expectations. But even in a world with almost perfect ... |
| نوع الوثيقة: |
article in journal/newspaper |
| وصف الملف: |
application/pdf; text/html; application/zip |
| اللغة: |
Spanish; Castilian |
| Relation: |
https://revistas.unlp.edu.ar/proyecciones/article/view/14845/14099; https://revistas.unlp.edu.ar/proyecciones/article/view/14845/14116; https://revistas.unlp.edu.ar/proyecciones/article/view/14845/14106; https://revistas.unlp.edu.ar/proyecciones/article/view/14845/14056; https://revistas.unlp.edu.ar/proyecciones/article/view/14845 |
| الاتاحة: |
https://revistas.unlp.edu.ar/proyecciones/article/view/14845 |
| Rights: |
Derechos de autor 2023 Alfredo Zgaib ; https://creativecommons.org/licenses/by-nc-nd/4.0/deed.es |
| رقم الانضمام: |
edsbas.F7ED6A9 |
| قاعدة البيانات: |
BASE |