Pinprapa Sangchan
Doctor of Philosophy, (Accounting)
Study Completed: 2019
Massey Business School
Citation
Thesis Title
Essays on the Information-Usefulness of Changes in Fair Values to Investors and Debtholders, and its Effect on Audit Fees: Evidence from Australian Real Estate Industry
Read article at Massey Research Online: 
The International Accounting Standards Board has been promoting fair value measurement of investment properties to improve the value relevance of accounting information in the real estate industry. However, there is an ongoing debate about the beneficial effects of fair value accounting in both academic and practitioner communities. The empirical evidence on this debate is scarce, and primarily comes from the US market. Ms Sangchan's research provides empirical endorsements to relevant accounting standards using the Australian Real Estate Industry data. Her findings indicate that changes in fair values of investment property are value-relevant for equity investors and debtholders. She further documents that changes in fair values of investment properties affect audit fees. This research provides novel evidence on the fair value accounting model and offers some policy implications for the accounting standard setters.
Supervisors
Professor Ahsan Habib
Dr Haiyan Jiang
Professor Borhan Bhuiyan