执行新会计准则是否降低了股权资本成本——基于我国资本市场的经验证据

发布时间：2018-01-08 02:11

本文关键词：执行新会计准则是否降低了股权资本成本——基于我国资本市场的经验证据　出处：《中国工业经济》2011年03期 　论文类型：期刊论文

【摘要】：我国自2007年实施新会计准则以来,已有不少学者对新准则是否能够改善盈余质量或提高价值相关性作了研究,然而对于新准则的实施是否能够降低股权资本成本的研究却鲜有涉及。本文通过新准则实施前后两个年份(即2006年和2009年)我国上市公司年度财务报告的数据,考察新准则的执行对股权资本成本的影响,研究发现实施新准则后我国资本市场整体资本成本有所下降,达到了预期目标,但是该结论并不适用于产业和行业的检验;行业差异的存在以及会计信息环境等因素的变化也将影响会计准则的应用。本文的研究从资本成本的角度进一步检验了我国新会计准则的实施效果,从而有助于增强准则制定者推进我国准则与国际准则持续趋同的信心。
[Abstract]:Since the implementation of the new accounting standards in 2007, many scholars have studied whether the new standards can improve the quality of earnings or improve the relevance of value. However, there is little research on whether the implementation of the new standards can reduce the cost of equity capital. This paper adopts the new standards before and after the implementation of the two years (2006 and 2009); The annual financial report data of listed companies in China. After examining the impact of the implementation of the new standards on the cost of equity capital, it is found that the overall capital cost of China's capital market has decreased after the implementation of the new standard, and the expected goal has been achieved. However, this conclusion does not apply to industry and industry testing; The existence of industry differences and the changes of accounting information environment will also affect the application of accounting standards. This paper further tests the implementation effect of new accounting standards from the perspective of capital cost. Thus, it helps to strengthen the confidence of the standard-setters to promote the consistent convergence between China's standards and international standards.
【作者单位】：浙江财经学院会计学院;
【基金】：教育部人文社会科学研究项目“后金融危机时代全球会计变革与中国趋同对策研究”(批准号10YJA790176)
【分类号】：F233;F832.51;F224
【正文快照】： 一、引言为顺应会计准则国际趋同的发展大势,我国于2006年颁布了新企业会计准则(以下简称新CAS或新准则),并要求所有上市公司自2007年起开始实施。该准则体系被视为与国际财务报告准则(以下简称IFRS)实现了“实质性趋同”。因此,较之以前的会计准则,新CAS被认为具有更高的质

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