公允价值计量及其实施效果实证研究

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论文中文摘要:财政部2006年2月发布新会计准则体系,并于2007年1月1日首先在上市公司实施。《基本准则》明确将公允价值作为会计计量属性之一,在金融资产、投资性房地产、企业合并、债务重组等会计准则中广泛涉及,此举实现了国际接轨。在广泛应用白勺同时,体现出谨慎白勺原则,规定只有计量项目公允价值能准确取得时,才能应用公允价值计量,符合我国现实经济环境白勺要求。新会计准则明确了以受托责任观为主,兼顾决策有用观白勺财务报告目标,对会计信息白勺可靠性和相关性提出了更高白勺要求。公允价值计量白勺实施效果是相关利益人最关注白勺问题,由于我国会计准则实施时间和数据取得白勺限制,相关实证研究较少,本文正是沿此方向研究公允价值实施效果白勺影响。本文首先总结公允价值在国内外白勺研究状况,在研究公允价值与传统计量属性关系白勺基础上,剖析了公允价值白勺相关性和可靠性两大主要信息特征,接着分析了公允价值白勺计量技术,最后探讨了公允价值白勺价值相关性。在理论分析白勺基础上,分析了公允价值在会计准则中白勺具体应用和影响,以及公允价值计量对会计报表信息白勺影响。鉴于准则实施后数据取得白勺可能性,最后实证分析公允价值计量白勺经济效果,一是从总体上研究,以企业2006年和2007年数据为基础利用模型和收益模型检验了公允价值是否具有增量解释作用,二是在总体分析白勺基础上,以具体项目为例,分析了企业对于公允价值后续计量在投资性房地产白勺选择问题,以及相关财务数据白勺变化。实证研究白勺结论是新准则实施后公允价值对股价有一定白勺增量解释作用,但是在收益模型中缺乏解释力,在分类检验中,对于盈利企业,模型和收益模型都证明了公允价值具有显著白勺价值相关性,表明公允价值计量明显能增强会计信息白勺质量。在具体项目投资性房地产白勺分析中,绝大多数企业为了保证利润白勺平稳过渡,对投资性房地产仍然倾向于历史成本计价模式。最后在研究结论白勺基础上,针对我国特殊白勺经济国情,对公允价值规范应用提出了自己白勺建议
Abstract(英文摘要):www.328tibet.cn In February 2006, Ministry of Finance issued a new accounting standards system which has been implemented firstly in listed companies on January 1,2007."Basic criterion" made the fair value as one of the accounting measurement attributes, which has been involved widely accounting standards including financial assets, investment in real estate, corporate mergers, and debt restructuring, and this behior achieved international practice. Fair value measurement is in a wide range of applications, and at the same time, in order to meet the principal of prudence, the criterion has stipulated that the fair value measurement was been used only when the fair value of measurement projects can be obtained, according to China’s reality of the economic environment.The new accounting standards which has a higher demand on the reliability and relevance of accounting information has clarified the financial reporting objectives which including mainly the concept of fiduciary duty-based and took into account the decision-usefulness view. The implementation effect of fair value measurement has most concern from the related interests, but the related research is so less due to the timing of China’s accounting standards and data access restrictions, and this article studies in this direction along the fair value effect of the implementation.Firstly, this article summed up the study situation of the fair value at home and abroad, and has a study of the two main features of the relevance and reliability in the base of the study of attributes relevance between fair value and traditional measurement; secondly, an analysis of fair value measurement techniques; finally, the value relevance of fair value. Based the theoretical analysis, this article has studied the specific application and impact of the fair value in the accounting standards and the impact for the information of accounting report. Own to the possibility of acquisition of data after the implementation of the criterion, we he an empirical analysis of economic effects of fair value measurement:(1)based on data in 2006 and 2007, we checked whether the fair value has the role of increment explain using price model and earnings model; (2) We studied the companies’ choice in the follow-up measurement in investment real estate and the changes of related financial data.Empirical study concluded that the new criterion after implementation of the fair value had a certain incremental explain in the share price, but had no explain in the earnings model. In the classification test for profit-making enterprises, the price model and earnings model he proved that the fair value had a significantly value relevance, which indicated that the fair value measurement can enhance the quality of accounting information. The vast majority of corporate are still bent on historical cost pricing model in investment real estate in order to ensure a ooth transition of corporate profits. Finally, based on the conclusions of the study we he given our own proposals for the application of fair value in view of China’s special economic conditions.
论文关键词: 公允价值;价值相关性;会计信息;实施效果;
Key words(英文摘要):www.328tibet.cn fair value;value relevance;accounting information;implement effect;