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La normativa contable internacional ofrece con la Norma Internacional de Contabilidad 40 (NIC 40) "Inversiones inmobiliarias" un caso referente para investigar la decisión que toman las empresas cuando se les ofrece el valor razonable o el coste histórico como criterios alternativos de valoración. En este trabajo aprovechamos la oportunidad que ofrece esta norma para aportar evidencia adicional en un contexto multinacional y multisectorial sobre cuáles son los motivos que explican la elección contable. Además, en este trabajo introducimos y comparamos el uso de las redes neuronales artificiales y los árboles de decisión, con el objetivo de evaluar la capacidad predictiva de estas metodologías, frente a la tradicionalmente utilizada regresión logística para la resolución de problemas de clasificación en este área. Los resultados de la clasificación indican que tanto las redes neuronales como los árboles de decisión pueden ser una alternativa interesante a los métodos clásicos estadísticos como la regresión logística. En particular, las dos metodologías mostraron una mayor capacidad predictiva frente a la regresión logística aunque no se encontraron diferencias significativas entre ambas. ------------------------------------International Accounting Standard 40 (IAS 40 - Investment properties) offers an ideal setting for research on accounting choice as it represents a paradigmatic case choosing between the fair value and the historical cost as the measurement criteria. In this paper, we take the opportunity of this standard to provide additional evidence in a multinational and multi-context on the determinants that explain the accounting choice. Furthermore, in this paper, we introduce and compare the use of artificial neural networks and decision trees in order to assess the predictive capability of these methodologies, compared to other techniques commonly used to solve classification problems in this area such as the logistic regression. The classification results indicate that both neural networks and decision trees can be an interesting alternative to classical statistical methods such as the logistic regression. In particular, both methods outperformed the logistic regression in terms of predictive ability, although no significant differences were found between both., Artículo revisado por pares

International Accounting Standard 40 (IAS 40 - Investment properties) offers an ideal setting for research on accounting choice as it represents a paradigmatic case choosing between the fair value and the historical cost as the measurement criteria. In this paper, we take the opportunity of this standard to provide additional evidence in a multinational and multi-context on the determinants that explain the accounting choice. Furthermore, in this paper, we introduce and compare the use of artificial neural networks and decision trees in order to assess the predictive capability of these methodologies, compared to other techniques commonly used to solve classification problems in this area such as the logistic regression. The classification results indicate that both neural networks and decision trees can be an interesting alternative to classical statistical methods such as the logistic regression. In particular, both methods outperformed the logistic regression in terms of predictive ability, although no significant differences were found between both.

En este trabajo, analizamos los factores que determinan la elección de criterio contable permitida por la Norma Internacional de Contabilidad (NIC) 40, Propiedades de Inversión. En definitiva, una investigación sobre dos características esenciales de la información financiera: relevancia y fiabilidad. Nuestros resultados empíricos son consistentes con la importancia del negocio patrimonialista en los grupos cotizados que optan por el modelo de valor razonable. Adicionalmente, nuestros resultados muestran que cuanto mayores sean los incrementos en el valor razonable de las inversiones inmobiliarias menores serán los incentivos para optar por el modelo de valor razonable. Por último, nuestros resultados ponen de manifiesto que la elección de criterio contable está relacionada con el auditor de las cuentas anuales. The present paper analyses the factors determining the election of accounting criteria allowed by the International Financial Reporting Standards (IFRS) 40, Real Estate Investment. In short, a research on two essential characteristics of financial information: relevance and reliability. Our empirical results are consistent with the importance of the real estate-directed business in listed groups that opt for the fair value model. Additionally, results show that the larger the increments in the fair value of real estate investments, the smaller the incentives to choose the fair value model. Lastly, results evidence that the choice of accounting criteria is related to the auditor of the yearly accounts. Neste trabalho analisamos os fatores que determinam a escolha de critério contábil permitida pela Norma Internacional de Contabilidade (IAS) 40, Propriedades para Investimento. Em definitiva, uma pesquisa sobre duas características essenciais da informação financeira: relevância e contabilidade. Nossos resultados empíricos são consistentes com a importância do negócio patrimonialista nos grupos cotados que optarem pelo modelo de justo valor. Adicionalmente, nossos resultados mostram que quanto maior os acréscimos no justo valor dos investimentos imobiliários serem, menor os incentivos para optar pelo modelo de justo valor. Por fim, nossos resultados exprimem que a escolha de critério contábil está relacionada com o auditor das contas anuais.