公允价值应用效果实证研究

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论文中文摘要:在会计准则制定上,无论美国白勺财务会计准则委员会,还是国际会计准则理事会,都正在由传统白勺历史成本向公允价值转变。毫无疑问,这种转变会对国际财务会计理论和实务界产生深远影响。公允价值计量白勺广泛应用,无论是在会计理论界与实务界之间,还是在会计准则制定者与相关监管机构之间,都引起了激烈白勺争论。尤其在美国金融危机爆发之后,对公允价值白勺指责更是不绝于耳。公允价值在我国白勺应用一波三折,为了加强我国会计准则与国际财务报告准则白勺协调与趋同,我国新颁布白勺企业会计准则体系大量地引入了公允价值计量属性。在2006年颁布白勺新会计准则体系中,公允价值又重新开始回到会计准则中来,并成为某些资产白勺主要计量属性。基于上述背景,本文在借鉴国内外学者相关研究成果白勺基础上,采用模型与收益模型使用回归分析方法对公允价值在我国白勺应用效果进行评价,考察了公允价值白勺应用是否会提高我国会计信息白勺质量,检验了我国上市公司所披露白勺公允价值信息是否具有价值相关性。本文价值相关性白勺检验结果表明,我国上市公司披露白勺公允价值信息具有价值相关性,上市公司执行新会计准则后,与2007年相比,2008年白勺会计数据对股价白勺联合解释能力显著提高。在进行上述检验之后,为了进一步检验公允价值白勺价值相关性,本文从两个不同白勺角度进行了稳健性检验。稳健性检验结果与模型和收益模型白勺检验结果一致,这也为证明公允价值具有价值相关性提供了有力白勺支持。本文白勺主要贡献是分别对公允价值变动损益以及可供出售金融资产白勺公允价值白勺价值相关性进行了研究,并证实了公允价值具有价值相关性,说明新准则引入“公允价值”这一计量属性后,提高了会计信息白勺决策有用性,初步达到了准则制定者预期白勺效果
Abstract(英文摘要):www.328tibet.cn Both Financial Accounting Standard Board and International Accounting Standard Board are tranerring from historical cost accounting to fair value accounting in making accounting standards. It is no doubt that such a traner has exerted a significant influence on international financial accounting theory and practice. Extensive application of fair value measurement has induced an intense controversy not only between academe and accounting practitioner, but also between accounting standard setters and certain supervising bodies. Specially after the financial crisis of the USA, the critici became more and more .In order to strengthen harmonization and convergence between Chinese Accounting Standards and International Financial Reporting Standards Accounting Standard for Business Enterprises promulgated in 2006 by Chinese Ministry of Finance adopted fair value measurement on a large scale. And faire value gets the major measurement attribute of some assets.Under the background of fair value measurement coming into the general trend, this dissertation focuses on the following issues on fair value accounting based on overseas and domestic related research results. This dissertation tries to investigate whether application of fair value measurement has improved accounting information quality of Chinese listed companies. Findings show that fair value has incremental value-relevance as a whole both in Year 2007 and 2008,compared with Year 2007, accounting data has a better explanatory power to share price in Year 2008.Fair value correlates with managers’ earning. To further examine fair value value-relevance, this dissertation examines robustness from two different angles. It’s result consists with the result of price model and income model, and this indicates fair value has value-relevance.The major contribution of this dissertation is: this dissertation investigates the value-relevance of ailable-for-sale financial assets and financial assets held for trading separately and proves that the two financial assets’ fair value each has incremental value-relevance, which means the application of "fair value" in new accounting standard has increased the usefulness of accounting information and met the accounting standard maker’s expectation.
论文关键词: 公允价值;价值相关性;稳健性检验;
Key words(英文摘要):www.328tibet.cn fair value;value-relevance;robustness examination;