其他综合收益价值相关性研究

发布时间：2018-06-17 05:11

本文选题：其他综合收益 + 综合收益　；参考：《北京交通大学》2017年硕士论文

【摘要】：随着企业经营活动的多样化,以历史成本为原则进行计量的净利润已经不再能够满足市场中投资者的需求。针对这一问题,职业会计机构形成了以综合收益为标准对企业绩效进行衡量的观点。为顺应新的形势,2014年我国开始正式施行《财务报表列报准则》,对企业的其他综合收益的披露和列报做出了进一步的规定。会计准则对其他综合收益披露的要求不断提高,2006年准则要求企业所有者权益表中列报其他综合收益,2009年准则要求其在利润表中列报,2014年的新会计准则更是要求企业将其分为可转回进损益和不可转回进损益两大类分别列报。这体现了会计准则对其他综合收益所包含的信息含量的重视。实际上,其他综合收益作为新的收益概念,与净利润结合构成了有机的整体——综合收益,它能够更为准确地反映在特定时期内企业经营业绩的全貌,提升利益相关者对该主体的真实盈利水平的判断的有效性。也就是说,其他综合收益应当具有价值相关性。那么,会计准则的演变是否提升了其他综合收益的价值相关性?其次,其他综合收益大部分由公允价值计量,而公允价值又收到市场中投资者情绪的影响,那么投资者情绪是否会影响其的价值相关性?基于对其他综合收益的特征分析,本文展开了以下研究:(1)其他综合收益是否具备价值相关性?(2)2014年新会计准则的改革是否提高了其他综合收益的价值相关性?(3)新的会计准则要求其他综合收益分为两大类进行列报的要求是否合理?(4)其他综合收益是以公允价值计量的未实现会计盈余,而公允价值以及会计盈余的价值相关性均会受到投资者情绪的影响。投资者情绪是否会影响其他综合收益的价值相关性?已有的针对其他综合收益的研究主要集中在其是否具有价值相关性,但是并未对会计准则改革的合理性进行有效的评估,使用的数据也相对较为陈旧,且并未考虑投资者情绪对其价值相关性的影响。本文则在2014年新的会计准则出台的背景下,以我国沪市A股2012-2015年的上市公司作为样本,针对其他综合收益的具体特征,对其进行研究。发现新会计准则的实施对其他综合收益价值的相关性有明显提升,也就是说会计准则的改革是达到了一定的预期效果的。我们还发现其他综合收益列报的两类项目的价值相关性是存在差异的,有必要进行分类披露。另外,短期内投资者情绪确实与其他综合收益的价值相关性有显著的正向关系,长期来看投资者情绪会被市场中的理性因素修正,不再影响其他综合收益价值相关性。本文创新性体现在:(1)研究设计方面,以其他综合收益的属性特征为切入点,它是一种具有预测性的以公允价值计量的未实现会计盈余信息。本文从它的预测性出发,研究了会计准则演变对其价值相关性的影响;从其是以公允价值计量这一特征,研究了投资者情绪对其价值相关性的影响。(2)研究意义方面,本文研究了 2014年会计准则改革对其他综合收益信息质量的影响,并论证了列报改革的合理性。本文采用2014年会计准则改革前后的最新数据,从实证角度对其他综合收益的价值相关性进行分析和检验,为会计准则的实施后果及其之后的修订提供实证证据,具有理论和实际意义。
[Abstract]:With the diversification of business activities, the net profit measured with the principle of historical cost is no longer able to meet the needs of the investors in the market. In view of this problem, the vocational accounting institutions have formed a view that the enterprise performance is measured with the standard of comprehensive income. In 2014, China began to implement the new situation. The criteria for the disclosure and presentation of other comprehensive income of the enterprise have been further stipulated. The requirements of the accounting standards for other comprehensive income disclosure are constantly improved. The 2006 guidelines require the list of other comprehensive benefits to be listed in the enterprise owner's equity table. In 2009, the standards are required to be listed in the profit statement, and the new accounting in 2014. The standard is also required by the enterprise to divide it into two categories, which are convertible into profit and loss and non return to profit and loss. This reflects the importance of accounting standards to the information content contained in other comprehensive income. In fact, the other comprehensive income is a new income concept, which combines with net profit to form an organic whole - comprehensive income, it can It is more accurate to reflect the overall performance of the business performance in a particular period and enhance the effectiveness of the stakeholders' judgment on the true profit level of the subject. That is to say, other comprehensive benefits should be of value relevance. The comprehensive income is mostly measured by the fair value, and the fair value is influenced by the investor sentiment in the market, then does the investor sentiment affect its value relevance? Based on the analysis of the characteristics of other comprehensive returns, the following study is carried out: (1) is there a value relevance for other comprehensive benefits? (2) new accounting in 2014 Does the reform improve the value relevance of other comprehensive income? (3) the new accounting standards require that other comprehensive returns be divided into two major categories to be listed, and (4) other comprehensive gains are unrealized accounting earnings measured at fair value, and the value relevance of the fair value and the accounting surplus will be invested. The influence of investor sentiment. Does investor sentiment affect the value relevance of other comprehensive returns? The existing research on other comprehensive gains mainly focuses on its value relevance, but does not effectively assess the rationality of the reform of the accounting standards, and makes the data used relatively obsolete and does not consider investing. In the background of the introduction of the new accounting standards in 2014, this paper takes the listed companies of the A shares of the Shanghai stock market for 2012-2015 years as a sample to study the specific characteristics of the other comprehensive income, and find that the implementation of the new accounting standards has a clear relevance to the value of other comprehensive income. In other words, the reform of accounting standards has achieved a certain expected effect. We also found that the value relevance of the two types of items listed in other comprehensive returns is different, and it is necessary to carry out classified disclosure. In addition, in the short term, there is a significant positive relationship between the investor sentiment and the value relevance of other comprehensive benefits in the short term. The investor sentiment will be modified by the rational factors in the market and no longer affect the relevance of the value of other comprehensive returns. This innovation is embodied in: (1) research and design, with the characteristics of other comprehensive income as the breakthrough point, it is a kind of unrealized accounting earnings information that is measured with fair value. On the basis of the predictability, the influence of the evolution of accounting standards on their value relevance is studied. From the characteristics of the fair value measurement, the influence of investor sentiment on its value relevance is studied. (2) in the research significance, this paper studies the influence of the reform of accounting standards on the quality of his comprehensive income information in 2014 and demonstrates the presentation of the report. This paper uses the latest data of the reform of the accounting standards in 2014, analyzes and tests the value relevance of other comprehensive income from the empirical perspective, and provides empirical evidence for the consequences of the implementation of the accounting standards and after the revision of the accounting standards, which is of theoretical and practical meaning.
【学位授予单位】：北京交通大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275

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