价值相关性视角下新会计准则的实施对会计信息价值影响研究

发布时间：2018-02-21 00:05

本文关键词： 会计信息价值相关性新会计准则价格模型收益模型资产-价格模型　出处：《北京交通大学》2013年硕士论文　论文类型：学位论文

【摘要】：会计信息的价值相关性—直是学术界研究的重要课题,2007年新会计准则的颁布作为完善我国会计制度体系的重大举措,引导我国会计准则体系在遵从本土市场经济环境的特征同时,追求与国际会计准则的趋同。本文对我国新会计准则执行后对会计信息价值相关性的影响进行了实证研究,对新准则实施的效果进行检验,为新准则的执行是否能更有利于投资者做出决策提供可供量化的研究结果。同时,本文在实证研究基础上对新准则改革的合理性,具体实施效果以及对投资者决策和会计准则的进一步规范提供了可借鉴的观点。本文研究主体主要为理论分析、对比研究和实证研究三部分。理论部分首先对资本市场研究的会计理论基础进行回顾,主要为有效市场假说理论和资本资产定价模型；其次对会计信息价值相关性的两种研究范式进行梳理,主要为信息观和计量观。实证研究部分首先进行对比研究,分别利用收益模型和价格模型对新准则实施后会计信息价值相关性是否有所提高进行实证检验,并将现金流量的信息变量引入模型中,对比两种模型下的回归结果并比较哪个模型更适于应用。接下来本文将Ohlson模型拓展,将新旧会计准则下会计处理存在显著差异的资产负债表中的代表项目作为自变量,设计资产-价格模型对会计信息价值相关性的提高做进一步实证检验。研究结果显示,新会计准则在不同的市场环境中体现出更为稳定的会计信息价值相关性,且价格和收益模型的回归结果初步验证在新会计准则下会计信息的价值相关性有所提高,同时价格模型的拟合优度要显著高于收益模型。在资产-价格模型中,由于2008年的股市震荡,相关变量的平均值都有所下降,但回归方程的拟合度却未受影响并高于旧会计准则下的结果,说明在新会计准则下会计信息受宏观市场环境的影响降低,新会计准则的实施能够提高会计信息的价值相关性。资产-价格模型研究结果指出新会计准则对固定资产、无形资产以及金融资产在会计处理上的规则变动有效的提高了会计信息价值相关性,同时对无形资产核算的改革对企业的技术革新起到了积极的作用。最后,本文改变参数设定进行稳健性检验也进一步说明了回归结果的可靠性。基于实证研究结果,本文最后在会计准则的进一步完善、资本市场信息披露监管、上市公司自身内控规范以及财务会计人员素质提升的多个角度提出了政策性的建议。
[Abstract]:The value relevance of accounting information is an important subject of academic research. In 2007, the promulgation of the new accounting standards is an important measure to perfect the accounting system of our country. In order to guide China's accounting standards system to follow the characteristics of local market economy environment and pursue convergence with international accounting standards, this paper makes an empirical study on the impact of the implementation of new accounting standards on the relevance of accounting information value. To test the effect of the implementation of the new standards, whether the implementation of the new standards can be more conducive to investors to make decisions to provide quantifiable research results. At the same time, this paper based on empirical research on the rationality of the new standards reform, The concrete implementation effect and the further standardization of investor's decision and accounting standard are provided for reference. The main body of this paper is theoretical analysis, comparative study and empirical research. Firstly, the theoretical basis of capital market research is reviewed, mainly the efficient market hypothesis theory and capital asset pricing model. Secondly, it combs the two research paradigms of the correlation of accounting information value, mainly information view and measurement view. Using the income model and the price model to test whether the relevance of accounting information value has been improved after the implementation of the new standards, and to introduce the information variable of cash flow into the model. Comparing the regression results of the two models and comparing which model is more suitable for application. Secondly, this paper extends the Ohlson model and takes the representative items in the balance sheet with significant differences in accounting treatment under the new and old accounting standards as independent variables. Design asset-price model to improve the value of accounting information to further empirical test. The results show that the new accounting standards reflect more stable relevance of accounting information value in different market environment. The regression results of the price and return models show that the value correlation of accounting information under the new accounting standards is improved, and the goodness of fit of the price model is significantly higher than that of the income model. In the asset-price model, Because of the stock market turbulence in 2008, the average value of the relevant variables decreased, but the fitting degree of the regression equation was not affected and higher than the results under the old accounting standards, which indicated that the accounting information under the new accounting standards was affected by the macro market environment. The implementation of the new accounting standards can improve the value relevance of accounting information. The change of accounting rules of intangible assets and financial assets has effectively improved the relevance of accounting information value, at the same time, the reform of intangible assets accounting has played a positive role in the technological innovation of enterprises. The reliability of regression results is further explained by the conservatism test of parameter setting in this paper. Based on the results of empirical research, this paper further improves the accounting standards and regulates the disclosure of capital market information. Listed companies own internal control norms and improve the quality of financial accounting personnel from a number of perspectives put forward policy recommendations.
【学位授予单位】：北京交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F233;F832.51

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