Effekten av den operationella leasingen på marknadsvärde efter det obligatoriska införandet av IFRS 16 En kvantitativ studie på svenska börsnoterade företag inom sju leasingintensiva industrier

Detta är en Magister-uppsats från Göteborgs universitet/Företagsekonomiska institutionen

Sammanfattning: This thesis examines the effects that IFRS 16 had on the particular industries in a Swedish context. The investigation focuses on whether the existence of the operating leases can affect the market value after completing the requirements on the mandatory implementation of IFRS 16. Unlike other studies that were aiming to predict the possible effects prior to the implementation of IFRS 16, this thesis has its focus on finding out whether the result after its required application is consistent with those predictions particularly on the relationship between the operating lease and the market value.In this research paper, the data was collected from 7 industries wherein 117 Swedish public companies were examined quantitatively for year 2017 (before implementation of IFRS 16) and 2019 (after implementation of IFRS 16). Correlation and regression analysis were performed to understand the relationship between variables and the effect that operating leases have on market value.The result shows that there is a significant relationship between operating lease and market value and this relationship becomes stronger when controlling for net income and book value. Furthermore, the effect that this new debt has on the market value was good and it was opposite from what the earlier studies were expected. Based on this result, it is concluded that operating lease in connection with the mandatory application of IFRS 16 has a significant effect on the market value.Since the research was conducted in Sweden on the following industries: capital goods, software & services, commercial & professional services, retailing, consumer service, real estate, and transportation; the generalization of this result is limited to these industries and may not be applicable to other markets.A further research is therefore needed to deeply understand why capitalization of operating lease has affected the companies as the result of this study. It is, therefore, recommended to do a research for each industry and do a comparison on how the effect differs from each other, or complete this study with a qualitative approach considering the factors that may have contributed to this effect in relation to the mandatory implementation of IFRS 16.

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