综合收益的相对价值相关性——基于A股上市公司的经验证据

发布时间：2018-01-21 12:00

本文关键词： 上市公司综合收益价值相关性　出处：《东岳论丛》2012年12期 　论文类型：期刊论文

【摘要】：以2007年至2010年中国A股上市公司为样本,从价值相关性角度检验综合收益信息的有用性。研究发现,综合收益与股价正相关,但是其价值相关性显著低于净利润;同在所有者权益变动表中非正式披露的综合收益相比,在利润表中正式披露的综合收益与股票价格的相关性反而更低;每股收益与"外币报表折算差额"之和具有比每股收益显著更高的价值相关性,说明披露其他综合收益的明细信息有助于投资者构建收益指标,进而做出价值判断。本结论不仅丰富会计信息有用性的研究,并对中国准则制定部门应对会计准则持续趋同的问题具有借鉴意义。
[Abstract]:From 2007 to 2010, a sample of Chinese A-share listed companies is used to test the usefulness of comprehensive income information from the perspective of value correlation. The study found that comprehensive returns and stock prices are positively correlated. But its value correlation is significantly lower than net profit; Compared with the informal disclosure of the comprehensive income in the owner's equity statement, the correlation between the formal disclosure of the comprehensive income and the stock price in the income statement is lower; The sum of earnings per share and "foreign currency statement translation difference" has a significantly higher value correlation than earnings per share, indicating that the disclosure of detailed information on other combined earnings helps investors to construct income indicators. This conclusion not only enriches the research on the usefulness of accounting information, but also can be used as a reference for China's standard-setting departments to deal with the problem of continuous convergence of accounting standards.
【作者单位】：首都经济贸易大学会计学院;
【基金】：教育部规划基金项目“企业会计准则实施的经济后果研究”(项目批准号:12YJA790089)的阶段性成果北京市教委科研水平提高项目资助
【分类号】：F224;F832.51
【正文快照】： 一、引言在一个复杂且持续变化的经济环境当中,如何准确和真实地计量公司业绩和财务状况一直是理论界争论的主要问题。这场争论的核心是公司业绩应该按照净利润(即收入减费用)进行报告,还是应该按照包括资产和负债价值变动后的综合收益计量。2006年,作为与国际财务报告准则趋

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