投资性房地产公允价值计量与股价同步性

发布时间：2018-01-09 13:14

本文关键词：投资性房地产公允价值计量与股价同步性　出处：《厦门大学学报(哲学社会科学版)》2017年04期 　论文类型：期刊论文

【摘要】：针对公允价值计量改革与财务报告目标适应性的争论,以我国2007—2013年A股上市公司为研究样本,实证检验了公允价值计量改革、盈余管理空间扩大和会计信息决策有用性之间的作用机理。研究发现,投资性房地产项目以公允价值进行计量扩大了管理层的盈余管理空间,真实的公允价值成为管理层的私有信息,私有信息通过交易融入股票价格,降低了股价同步性。同时,鉴于投资性房地产公允价值私有信息搜寻存在超额收益,投资性房地产公允价值披露金额与股价同步性的相关关系还受到会计信息透明度和证券分析师关注度的制约。因此,公允价值计量改革需要更为即时有效的公允价值输入值来源,以便制约盈余管理空间。
[Abstract]:In view of the debate on the adaptability of fair value measurement reform and financial reporting objectives, taking China's A-share listed companies from 2007-2013 as the research sample, this paper empirically tests the fair value measurement reform. The mechanism between the expansion of earnings management space and the usefulness of accounting information decision-making. It is found that investment real estate projects expand the management's earnings management space by fair value measurement. The real fair value becomes the private information of the management, and the private information integrates into the stock price through the transaction, which reduces the synchronism of the stock price. At the same time, in view of the excess income of the private information search of the fair value of the investment real estate. The relationship between the amount of fair value disclosure of investment real estate and the synchronism of stock price is also restricted by the transparency of accounting information and the attention of securities analysts. The reform of fair value measurement needs more effective source of fair value input value in order to restrict earnings management space.
【作者单位】：浙江工商大学财务与会计学院;厦门大学会计发展研究中心;广东外语外贸大学会计学院;
【基金】：国家社会科学基金重点项目“公允价值信息采集及指数构建研究”(13AJY005) 教育部人文社会科学重点研究基地重大项目“会计计量模式、报告模式与企业综合报告”(16JJD790035) 浙江省自然科学基金项目“公允价值会计信息与股价同步性:基于投资者情绪和会计信息透明度的交叉研究”(LY15G020003)
【分类号】：F299.23;F832.51
【正文快照】： 一、引言一般认为,公允价值计量更为相关,因而有取代混合计量会计模式的趋势。公允价值计量整体上提升了会计信息的价值相关性(Landsman,2007),有助于实现财务报告决策有用性目标。然而,由于各国制度背景差异较大,市场发展程度也千差万别,完全采纳国际财务报告准则(IFRS)的公

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