合并准则实施对盈余信息质量影响分析
本站原创 论文中文摘要：会计的本质是一个信息系统,而会计准则是对会计实务的规范,保证会计信息的质量。为适应我国经济发展,我国会计准则体系正在逐步与国际接轨,2006年颁布的新会计准则,已于2007年1月1号率先在上市公司实施。在新准则体系中,企业合并会计准则作为独立的准则首次出现。我国企业合并准则中的合并会计处理方法不同于国际的通用做法,带有典型的中国特色,即购买法与权益结合法并存的二元结构。一直以来,企业之间的兼并与并购均属于证券市场的重大事件,会对资本市场产生很大影响,作为会计技术问题的企业合并会计处理方法同样也成为争议的焦点。本文将对我国企业合并会计准则采用这种购买法与权益结合法并存的二元结构是否合理以及实施效果如何进行分析研究。企业合并会计准则中购买法与权益结合法对会计信息有不同的影响,会产生不同的会计结果,在我国特定的市场环境中就形成了显著的经济后果。会计信息质量已成为评价企业合并会计准则实施效果的重要依据。较之于其他会计信息,会计盈余信息更容易在资本市场上获取,而会计盈余质量又是会计信息包含的重要内容。故本文将研究合并准则实施后,对资本市场中上市公司会计盈余信息的影响,以会计盈余信息价值相关性是否得到提高作为切入点来研究合并会计准则的实施效果。本文从理论上界定了有关会计信息价值相关性与合并会计准则经济后果的基本概念,并阐述了有关合并会计准则实施效果的理论基础,介绍了会计实证研究的理论基础：有效市场假设与资本资产定价模型,又在此基础上阐述了会计准则经济后果与会计信息价值相关性的理论基础。分析了合并会计准则实施对上市公司会计信息的影响,引入会计信息质量的评价标准,得出合并会计准则实施对上市公司会计盈余信息质量的影响。基于合并会计准则实施效果的评价依据是由上市公司会计信息质量的高低来决定的,而寻找相关性的量化方法,是研究会计信息质量的前提。基于此,本文从相关性角度来看我国上市公司实施合并会计准则后的会计信息质量变化情况,从会计盈余信息质量是否提高来检测合并会计准则的实施效果。分别从上市公司盈余信息中的每股收益对股价的解释力,和每股收益与每股净资产的协同作用两方面来验证会计盈余信息质量,在基础上提出了本文的实证研究假设。为了全面考察企业合并会计准则是否显著地提高了会计盈余信息的质量,增强了会计信息的决策有用性,我们从不同角度选取了实施前后的样本进行对比分析,测试会计盈余信息的价值相关性是否有显著改进。而为验证合并会计准则实施后,我国证券市场上的会计信息质量是否得到提高,通过数据统计实施前后的会计盈余信息价值相关性程度来验证。本文选取深、沪两市2006年、2007年、2008年实施合并的上市公司年报数据为样本。使用数据统计工具SPSS 17.0和Excel2003对2006年、2007年、2008年实施合并的上市公司财务数据进行实证分析。基于价值相关性以往的研究,构建了收益模型与模型,进行模型回归分析。得出的实证分析结果是：无论是描述性统计中的均值表现、相关性分析中的相关系数还是回归分析中的回归模型系数或拟合优度,实施准则后的会计盈余信息价值相关性均高于准则实施前,本文提出的研究假设也得到验证。结合本文的研究结论,即我国企业合并会计准则实施后的会计盈余信息更具价值相关性,说明合并准则实施后上市公司会计信息质量得到提高,现阶段实施的合并准则中二元格局在我国是适用的。再结合本文研究中发现的问题,提出一些相关建议,即我国会计准则今后的实施与制定过程中,应充分考虑其会计准则实施的经济后果,同时加强准则实施监管,以确保会计准则的实施效果。本文的特点是从会计盈余信息价值相关角度来验证我国合并会计准则实施效果,证实合并准则的二元结构适用于我国国情。而本文局限性主要表现在样本数据代表性、模型的变量设计等方面,有待进一步的研究
Abstract（英文摘要）： Accounting is the essence of an information system, so Accounting standards are the standardize of accounting practices to ensure the quality of accounting information. China’s system of accounting standards with international standards is gradually in order to meet China’s economic development, In 2006 the new accounting standards issued, and in January 1,2007 implementation of the first in the listed company. Business combination accounting standards for the first time as an independent is one of the highlights in the new standards system. Guidelines of the Consolidation business combination accounting treatment with typical Chinese characteristics is different from the common practice of international, which is coexistence between the purchase method and pooling of interest method. Mergers and acquisitions among enterprises belong to a major event in the securities market.It will he a significant impact on capital markets. Accounting treatment of business combinations as technical issues also become the focus of controversy. This business combination accounting standards in China will use this purchase method and pooling of interest method is reasonable co-existence of dual structure and implementation of effective analysis of how, which is the contents of this paper. In business combinations purchase method of accounting standards and the pooling of interest method of accounting information he different effects especially in the context of specific market. It is in light of merger accounting standards to accounting information as a carrier to form the economic consequences of high and low quality of accounting information to determine effects of consolidations accounting standards. Evaluation of accounting information quality has become a business combination accounting effect of an important basis for the implementation with the disclosure of the capital market. Accounting earnings information as an important part of the accounting information more easily access the capital markets. This will be the value relevance of accounting earnings information whether the improved empirical research as a starting point the implementation of Consolidation effect of accounting standards.First of all, theory defines value relevance of accounting information related to merger accounting standards and the basic concepts of economic consequences. And introduced the theoretical basis of empirical research:Efficient Market Hypothesis, Capital Asset Pricing Model, Contract Theory and the Theory of Single-person Decision-making. Evaluation of the quality of accounting information into the standard analysis of merger accounting standards for listed companies to implement information quality of accounting earnings. Quality of accounting information of listed companies the level of implementation of the guidelines is to evaluate the effect of merger accounting basis. Therefore, the study of accounting information quality on the premise that quantitative methods to find correlation. Based on this, from the perspective of correlation between the implementation of China’s listed companies post-merger accounting standards changes in the quality of accounting information, from whether to raise the quality of accounting earnings information to detect effects of merger enforcement of accounting standards. This article basis earnings per share information in the explanatory power of stock prices, And earnings per share and net assets per share synergies to verify both the quality of accounting earnings information, and presented in this paper on the basis of empirical hypotheses.We selected from different angles before and after the samples were analyzed the value relevance of accounting information is a significant improvement. Through the statistics before and after the implementation of the value relevance of accounting earnings information to verify the extent of accounting information quality is improved in China Capital market. This paper selects Shenzhen, Shanghai and cities in 2006,2007, 2008, annual reports of listed companies to implement Consolidation data sample. Listed companies on the implementation of the merger in 2006,2007,2008, an empirical analysis of financial data in using statistical tools SPSS 17.0 and Excel 2003. Based on the value relevance of previous research to build revenue model and pricing model. The hypothesis has been verified. The empirical results obtained is that after the implementation of guidelines for the value relevance of accounting earnings information is higher than before the implementation of the guidelines. Combining conclusions of this study, guidelines for the implementation of the merger at this stage in the binary pattern is applicable in China. Consolidation with the problems found in this study he several suggestions. That the future implementation of accounting standards and the development process, we should fully consider the economic consequences of the implementation of accounting standards, while strengthening the implementation of regulatory guidelines to ensure effective enforcement of accounting standards.In this paper the characteristics of accounting information from surplus value related Angle to verify our consolidation accounting standards implementation effect, prove merger criterion dual structure suitable for China’s national conditions. But the limitations is mainly manifested in the sample data representative of the model, variable design aspects. And article requires further study
论文关键词： 合并会计准则；盈余质量；信息相关性；
Key words（英文摘要）： Consolidation Standards；Earnings Quality；Value relevance；
Abstract（英文摘要）： Accounting is the essence of an information system, so Accounting standards are the standardize of accounting practices to ensure the quality of accounting information. China’s system of accounting standards with international standards is gradually in order to meet China’s economic development, In 2006 the new accounting standards issued, and in January 1,2007 implementation of the first in the listed company. Business combination accounting standards for the first time as an independent is one of the highlights in the new standards system. Guidelines of the Consolidation business combination accounting treatment with typical Chinese characteristics is different from the common practice of international, which is coexistence between the purchase method and pooling of interest method. Mergers and acquisitions among enterprises belong to a major event in the securities market.It will he a significant impact on capital markets. Accounting treatment of business combinations as technical issues also become the focus of controversy. This business combination accounting standards in China will use this purchase method and pooling of interest method is reasonable co-existence of dual structure and implementation of effective analysis of how, which is the contents of this paper. In business combinations purchase method of accounting standards and the pooling of interest method of accounting information he different effects especially in the context of specific market. It is in light of merger accounting standards to accounting information as a carrier to form the economic consequences of high and low quality of accounting information to determine effects of consolidations accounting standards. Evaluation of accounting information quality has become a business combination accounting effect of an important basis for the implementation with the disclosure of the capital market. Accounting earnings information as an important part of the accounting information more easily access the capital markets. This will be the value relevance of accounting earnings information whether the improved empirical research as a starting point the implementation of Consolidation effect of accounting standards.First of all, theory defines value relevance of accounting information related to merger accounting standards and the basic concepts of economic consequences. And introduced the theoretical basis of empirical research:Efficient Market Hypothesis, Capital Asset Pricing Model, Contract Theory and the Theory of Single-person Decision-making. Evaluation of the quality of accounting information into the standard analysis of merger accounting standards for listed companies to implement information quality of accounting earnings. Quality of accounting information of listed companies the level of implementation of the guidelines is to evaluate the effect of merger accounting basis. Therefore, the study of accounting information quality on the premise that quantitative methods to find correlation. Based on this, from the perspective of correlation between the implementation of China’s listed companies post-merger accounting standards changes in the quality of accounting information, from whether to raise the quality of accounting earnings information to detect effects of merger enforcement of accounting standards. This article basis earnings per share information in the explanatory power of stock prices, And earnings per share and net assets per share synergies to verify both the quality of accounting earnings information, and presented in this paper on the basis of empirical hypotheses.We selected from different angles before and after the samples were analyzed the value relevance of accounting information is a significant improvement. Through the statistics before and after the implementation of the value relevance of accounting earnings information to verify the extent of accounting information quality is improved in China Capital market. This paper selects Shenzhen, Shanghai and cities in 2006,2007, 2008, annual reports of listed companies to implement Consolidation data sample. Listed companies on the implementation of the merger in 2006,2007,2008, an empirical analysis of financial data in using statistical tools SPSS 17.0 and Excel 2003. Based on the value relevance of previous research to build revenue model and pricing model. The hypothesis has been verified. The empirical results obtained is that after the implementation of guidelines for the value relevance of accounting earnings information is higher than before the implementation of the guidelines. Combining conclusions of this study, guidelines for the implementation of the merger at this stage in the binary pattern is applicable in China. Consolidation with the problems found in this study he several suggestions. That the future implementation of accounting standards and the development process, we should fully consider the economic consequences of the implementation of accounting standards, while strengthening the implementation of regulatory guidelines to ensure effective enforcement of accounting standards.In this paper the characteristics of accounting information from surplus value related Angle to verify our consolidation accounting standards implementation effect, prove merger criterion dual structure suitable for China’s national conditions. But the limitations is mainly manifested in the sample data representative of the model, variable design aspects. And article requires further study
论文关键词： 合并会计准则；盈余质量；信息相关性；
Key words（英文摘要）： Consolidation Standards；Earnings Quality；Value relevance；