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论文编号：	676
作者编号：	2120061975
上传时间：	2008/6/20 10:56:36
中文题目：	我国新会计准则的价值相关性研究
英文题目：	A Research on Value Relevance
指导老师：	周宝源
中文关键字：	新会计准则;会计信息;价值相关
英文关键字：	new accounting standards;accou
中文摘要：	财政部于2006年2月15日发布了新会计准则，这能够提高企业的会计信息质量，同时也为考察中国会计改革的实际效果提供了很好的研究机会。很多期刊杂志都刊文指出新企业会计准则大大提高了我国企业的会计信息质量，投资者会更加注重利用会计信息进行投资决策，进而提高会计信息的价值相关性。但是新会计准则是否达到了预期的效果，目前尚无相应的实证研究。会计信息价值相关性作为会计信息的根本属性，不仅对会计制度改革、证券市场监管和投资者决策意义重大，同时也是资本市场环境下实证会计研究的主要范畴。于是本文从会计信息价值相关性角度，采用规范和实证研究方法对中国新会计准则的效果进行研究。 本文从有效市场理论出发来阐述新准则对资本市场的意义，进而从新准则的特点和内容上分别说明对上市公司和会计信息价值相关性的影响。财务报告的目标重点突出了决策有用观，同时不再把历史成本作为会计核算的基本原则，只将其作为会计计量属性之一。计量属性的多样化，更有利于会计信息的相关性。新准则扩大了所需提供会计信息的范围，除了要求表内确认能够反映交易和事项的经济实质外，还要求加大对表外披露的范围和力度。新准则对会计的确认、计量和报告提出了更高的要求，即在满足上述信息质量要求的基础上，又补充了三项基本假设、财务报表要素的确认标准等内容。新会计准则基本实现了与国际惯例的趋同，有利于提高会计信息价值相关性。 本文运用沪深上市公司的2006年和2007年中期报表数据，采取事件研究、报酬模型、价格模型三种方法来检验新会计准则对会计信息价值相关性的影响。在本文的研究期间中，我国股市经历了暴涨，而股市振荡对会计信息价值相关性的研究非常不利，本文采用市盈率法对报酬模型中的样本公司的股票报酬率进行调整，使研究结论更具有说服力。实证研究结果显示2007年会计盈余和净资产的价值相关性在统计上显著地好于2006年。在分年度的补充检验中，所有模型的adj.R2 在2007年都得到增加，表明会计信息对股价解释能力得以加强，从而证明新会计准则提高了会计信息的价值相关性。
英文摘要：	Ministry of Finance issued new accounting standards on February 15, 2006, which can improve the quality of accounting information, and also provide a good opportunity for the inspection of China's accounting market-oriented reforms and the actual results. Papers in various financial journals were published to argue that the new accounting standards has greatly enhanced the quality of accounting information and investors would pay more attention to the use of accounting information for investment decisions, so the value relevance of accounting information was increased. However, there is no empirical study to testify whether the new accounting standards have obtained the expected result. As the fundamental properties of accounting information, the value relevance of accounting information is significant in the reform of the accounting system, regulation of securities market and investors, decision-making, and is the main area of empirical accounting study in the capital market. From the point of value relevance of accounting information, this thesis attests the effect of China's new accounting standards in normal and empirical way. From the standpoint of efficient market theory, this thesis indicates the significance of the new standards on capital market and discusses the impact of new standards on listed companies and value relevance of accounting information from the point of characteristics and content of the new accounting standards. Financial report highlights the concept of the decision-making availability, while the historical cost has been only one of the attributes of accounting measures. The diversification of attributes of accounting measures is more conducive to the relevance of accounting information. The new standards extend the scope of necessary accounting information, including the disclosure of information of real transactions and matters in and out of the financial reports. The new accounting standards bring forward higher demand of the identification, measurement and reporting on accounting information, namely, three basic assumptions and the standards of confirmation on elements of financial statements are added. New accounting standards have achieved the convergence with international practices, which is conducive to raising the value relevance of accounting information. This thesis selects listed companies in Shanghai and Shenzhen stock exchange as samples and chooses the data in interim of 2006 and 2007, using the event study, return model and price model to test the impact of new accounting standards on accounting information. But China's stock market experienced skyrocketing in the period of this study, and the oscillation of the stock market affected the research on value relevance of accounting information negatively. This thesis adopts the price-earnings ratio to adjust stock return in return model so that the conclusion of the study is more convincing. The empirical studies shows that the value relevance of accounting earnings and net assets in 2007 is better than that in 2006 in statistics. In the supplementary examination, adj.R2 of the models in 2007 have been increased, which means interpretation of accounting information on stock price was enhanced. Therefore, this thesis proves that the new accounting standards increased the value relevance of accounting information in China.
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