اختبار ملاءمة قيمة معلومات نفقات الاستكشاف والتقييم المرسملة الواردة في التقارير المالية لشركات استخراج النفط والغاز المدرجة في بورصة لندن (دراسة مقارنة بين الطرق المحاسبية المستخدمة)

Abstract

The objective of this research is to study the value relevance of the disclosed information on capitalized exploration and evaluation expenditures under both the successful efforts method and the full cost method, and to verify whether the information on exploration and evaluation expenditures under the successful efforts method is superior in its value relevance to the information on exploration and evaluation expenditures under the full cost method, or vice versa. The study was applied to oil and gas extraction companies listed on the London Stock Exchange, excluding companies that merged, were acquired, or exited the market, resulting in a final sample of 66 companies for the period from 2017 to 2023. The necessary data for the research were obtained from the annual reports of these companies and the official website of the London Stock Exchange. The research relied on the Ohlson (1995) model to assess the relationship between accounting variables and stock price. It concluded that the information on capitalized exploration and evaluation expenditures is value-relevant under both the successful efforts method and the full cost method. However, the information on capitalized exploration and evaluation expenditures disclosed under the successful efforts method is more value-relevant compared to the information on capitalized exploration and evaluation expenditures disclosed under the full cost method.