Capital markets and valuation models of investment propertiesa pre and post crisis analysis

  1. María de la Paz Horno Bueno 1
  2. Ana Licerán Gutiérrez 2
  3. Rafael Bautista Mesa 3
  1. 1 Universidad de Jaén

    Universidad de Jaén

    Jaén, España


  2. 2 Departamento de Economía Financiera y Contabilidad, Universidad de Jaén, Jaén-SPAIN
  3. 3 Universidad Loyola de Andalucía
Revista de contabilidad = Spanish accounting review: [RC-SAR]

ISSN: 1138-4891

Year of publication: 2022

Volume: 25

Issue: 2

Pages: 233-243

Type: Article

DOI: 10.6018/RCSAR.431411 DIALNET GOOGLE SCHOLAR lock_openDIGITUM editor

More publications in: Revista de contabilidad = Spanish accounting review: [RC-SAR]


Cited by

  • Scopus Cited by: 1 (30-11-2023)
  • Web of Science Cited by: 0 (19-10-2023)
  • Dimensions Cited by: 0 (24-03-2023)

JCR (Journal Impact Factor)

  • Year 2022
  • Journal Impact Factor: 1.8
  • Journal Impact Factor without self cites: 1.6
  • Article influence score: 0.27
  • Best Quartile: Q3
  • Area: BUSINESS, FINANCE Quartile: Q3 Rank in area: 77/111 (Ranking edition: SSCI)

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  • Year 2022
  • SJR Journal Impact: 0.355
  • Best Quartile: Q3
  • Area: Accounting Quartile: Q3 Rank in area: 102/174

Índice Dialnet de Revistas

  • Year 2022
  • Journal Impact: 1.750
  • Field: ECONOMÍA Quartile: C1 Rank in field: 7/161


  • Social Sciences: A

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  • Year 2022
  • CiteScore of the Journal : 3.3
  • Area: Accounting Percentile: 62

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  • Year 2022
  • Journal Citation Indicator (JCI): 0.69
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  • Area: BUSINESS, FINANCE Quartile: Q2 Rank in area: 91/230


(Data updated as of 24-03-2023)
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This work analyses the effect of the fair value and historical cost models, optionally applicable under IAS 40 for investment properties on the market value of Spanish groups of real estate listed companies between 2005 and 2018. The results of the application of the Ohlson Model do not suggest any relationship of financial information with the market value in the pre-crisis and economic crisis periods. However, in the post-crisis period, financial information represented by book value gains relevance, showing a significant positive relationship with the market value of real estate companies, although suggesting a reduction in the asymmetry of financial information in companies using the fair value method.

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