Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 2001 erstellt
Description:
In the United Kingdom Financial Reporting Standard (FRS) 13 requires narrative and numerical disclosure of all financial instruments held or issued, in order to provide information about their impact on the entity's risk profile. FRS 13 came into force for March 1999 year-ends. Under FRS 13 firms are required to disclose various details of the carrying amounts of financial liabilities and assets. In particular firms must specify the currency in which liabilities and assets are held, and show separately those liabilities and assets at fixed interest rates, those at floating interest rates and those on which no interest is paid. This data enables the determination of the proportion of a firm's debt that is fixed or floating and a firm's foreign currency debt mix. This paper presents the initial results from a detailed analysis of these risk management disclosures in the annual reports of 100 UK non-financial firms for the period March 1999 to December 1999