Fair Value and Financial Transparency: An Interdisciplinary Framework from Economic and Social Perspectives

This doctoral article presents an interdisciplinary framework for analyzing fair value and financial transparency, integrating economic and social perspectives. From an economic standpoint, it explores how fair value and inflation adjustments are crucial for financial information in challenging contexts like hyperinflation and dollarization in Venezuela. It acknowledges their essential nature for a true and fair view, despite subjectivity, lack of active markets, and informal indices that compromise their reliability. Socially, the study addresses the cultural influence on financial transparency, highlighting how culture, collective values, and institutional and political factors are fundamental. It concludes that transparency is a deeply rooted social construct, whose effective promotion requires cultivating a culture of openness and ethics, extending beyond legal and technological aspects. The methodology employed was an exploratory and descriptive analysis, based on a systematic literature review. Transparency was examined from its ontological, epistemological, and axiological dimensions. The integration of these visions aims to understand the interaction between accounting systems and sociocultural factors in shaping transparency and the relevance of financial information.