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论文编号：	7507
作者编号：	2120132367
上传时间：	2015/6/10 23:20:08
中文题目：	我国上市公司综合收益的价值相关性研究
英文题目：	Research on the Value Relevance of Comprehensive Income in Listed Companies
指导老师：	周晓苏
中文关键字：	综合收益；其他综合收益；价值相关性
英文关键字：	comprehensive income; other comprehensive income; value relevance
中文摘要：	近年来，随着经济的发展，世界各国资本市场的成熟度都在逐渐提高，我国亦然。资本市场上投资者对会计信息含量的需求也随着市场的发展、完善而逐渐提高。这时，财务报表中的净利润指标因只能反映过去交易和事项的经济后果，不利于帮助投资者对未来进行预测，其缺陷开始逐渐暴露出来，这一指标越来越不能满足投资者对于决策信息的需求。对此，我国也顺应时代发展，在财务报表中引入综合收益观，并进行了一系列的改革。2014年1月26日，《企业会计准则第30号—财务报表列报》经过修订后正式问世，对综合收益的列报披露进行了规范和完善，这标志着2009年颁布的《企业会计准则解释第3号》中的其他综合收益相关内容正式写入准则。然而，在政策实施的最初一段时间，综合收益似乎没有带来人们预期中的增量信息。那么随着综合收益观的进一步推进、投资者对其认识的加深，综合收益概念在我国是否逐渐得到了报表提供者和使用者的了解和认可，会计信息的价值相关性是否因此而得到了提高，需要检验。 本文选取了沪深A股上市公司2010年—2013年四年的样本数据进行实证检验，构建了三个价格模型进行回归分析，验证本文的前两个假设；之后又分板块、分行业进行进一步对比研究，以验证本文后两个假设，得出以下结论：综合收益信息具有价值相关性，而且现阶段综合收益的价值相关性有逐渐增强的趋势；主板上市公司其他综合收益的价值相关性在三个板块中是最高的，金融行业上市公司其他综合收益的价值相关性高于非金融行业上市公司。 最后，本文根据研究结果，结合我国的实际情况提出如下建议：加强对综合收益观的宣传，使综合收益的概念和意义深入人心；完善与综合收益相关的准则和规范，减少报表中披露错误的现象，提高其信息含量；加强对各个板块上市公司的监管，引导公司对综合收益信息进行充分披露，以减少利润操纵空间。
英文摘要：	With the development of economy in contemporary society, capital market in our country is becoming gradually mature. As a result, investors in the capital market have increasingly demands for the decision usefulness of accounting information. Traditional net income in financial report showed its limitation and can no longer satisfy the information demands of investors. In order to adapt to this tendency, our country also take measures to reform. In 2009, the concepts of comprehensive income and other comprehensive income were introduced in China. January 1st, 2014, the ministry of finance issued the newly revised ,in which the presentation and disclosure of other comprehensive income was regulated and bettered, which means the related content referred in the issued in 2009 was officially written down. However, at the beginning of the policy issue, it seems comprehensive income did not show the incremental information as people anticipated. With the advancement of accounting standards as well as the better understanding of information users, whether comprehensive income have a good development, and improve the usefulness of accounting information should all be examined. This paper takes the data of listed companies in A-share from 2010 to 2013 as sample and adopts the price model in empirical research. The research result shows the value relevance of comprehensive income, and along with the propelling of reforms, the value relevance shows a increasing trend at this stage. Besides, the group research on the data illustrates that for listed companies in different board and different industry, the difference in value relevance of other comprehensive income exists. The value relevance of other comprehensive income in mainboard dominates the other two. Similarly, the value relevance of other comprehensive income in financial industry listed companies dominates non-financial industry listed companies. Finally, according to the conclusion, combine with the economic environment and capital market development in our country, this paper come up with the following suggestion: There should be more publicity for the concept of comprehensive income, in order to improve the understanding of it and put emphasis on it; to make further improvement on accounting standards, and make efforts to realize the incremental information contents; measures should be taken by authorities to strengthen the supervision of all listed companies, in order to provide fully disclosed accounting information for investors, and diminish the room for earnings management.
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