MARKET RISK INFORMATION DISCLOSURE: A CASE OF COMPANIES WITHIN PSI 20

• Autor(a) principal: Alves, Maria Teresa Venâncio Dores
• Data de Publicação: 2013
• Outros Autores: Graça, Mónica Lopes
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Revista Universo Contábil
• Texto Completo: https://ojsrevista.furb.br/ojs/index.php/universocontabil/article/view/3353
• topic: Disclosure; market risk; IFRS 7.; Revelación; riesgo del mercado; NIIF 7.; Divulgação; risco de mercado; IFRS 7

It is compulsory for listed companies to fulfil a set of requirements about market risk information disclosure. That happens, among other reasons, because of the impositions of Comissão de Mercado de Valores Mobiliários and the accounting rules, particularly the International Financial Standard (IFRS) 7 “Financial Instruments: Disclosures”. The objective of the present study is to verify the market risk information disclosure practices of the companies that integrate the Portuguese Stock Index (PSI) 20. For that purpose we use the content analysis method and the 2010 annual accounts of the cited companies as the object of analysis. We try to verify compliance with information disclosure, specifically regarding market risk information disclosure, in both qualitative and quantitative perspectives. The voluntary disclosure issue is, also, addressed. We found that the great majority of the companies fulfil IFRS 7 requirements, that disclosures about interest rate risk are the most observed and, in general, that companies use derivative instruments to mitigate market risks.