资产处置损益的价值相关性研究

发布时间：2018-06-29 20:51

本文选题：资产处置损益 + 价值相关性　；参考：《财会月刊》2015年02期

【摘要】：文章以2007~2012年沪深两市A股上市公司(不包括金融行业)为样本,统计了营业外收入(支出)、投资收益等项目中所包含的资产处置损益信息,利用价格模型和收益模型检验了资产处置损益与股票价格、股票收益率之间的关系。实证结果表明,资产处置损益总额与股票价格、股票收益率之间存在显著的价值相关性;非流动资产处置损益、长期股权投资处置损益和金融资产处置损益,与股票价格、股票收益率之间存在显著的价值相关性。进一步分组检验中,无论亏损上市公司还是盈利上市公司,都支持了这一结论。资产处置损益的信息能够影响信息使用者做出决策,因此应当将资产处置活动产生的损益作为单独一项在利润表中列报;增设统一的资产处置损益科目,完善财务报表附注中有关资产处置损益明细科目信息的披露。
[Abstract]:Taking the A-share listed companies of Shanghai and Shenzhen stock markets from 2007 to 2012 (excluding the financial industry) as samples, the paper makes statistics on the profit and loss information of asset disposal in items such as non-operating income (expenditure), investment income, etc. The relationship between asset disposal profit and loss, stock price and stock yield is tested by price model and income model. The empirical results show that there is a significant value correlation between total asset disposal profit and loss, stock price and stock return, non-current asset disposal profit and loss, long-term equity investment disposal profit and loss, and financial asset disposal profit and loss, and stock price. There is a significant value correlation between stock returns. Further grouping test, no matter loss listed company or profit listed company, all supported this conclusion. The information on the profit and loss of asset disposal can influence the information user to make the decision. Therefore, the profit and loss arising from the disposal of assets should be reported as a separate item in the income statement; a unified account for the profit and loss of the disposal of assets shall be added, Improve the disclosure of the detailed account information in the notes to the financial statements on asset disposal gains and losses.
【作者单位】：河南牧业经济学院会计系;
【基金】：国家社科基金重大项目(批准号:11&ZD145)
【分类号】：F832.51;F275

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