公允价值会计的价值相关性实证研究

发布时间：2018-03-16 02:31

本文选题：公允价值　切入点：价值相关性　出处：《华北电力大学》2014年硕士论文　论文类型：学位论文

【摘要】：随着市场经济、资本市场和金融工具的快速发展,会计的目标由受托责任观向决策有用观转变。这就对会计信息的相关性提出了更高的要求。应会计目标的变化,公允价值计量模式不断被应用于会计准则。美国和欧洲会计准则均已大量全面的引入了公允价值计量模式。中国会计准则在向国际会计准则趋同的过程中,是否要引入公允价值计量模式,如何引入,在实践中能否提高会计信息的相关性,这都是急需要解决的问题。本文首先对公允价值国内外的发展历程进行了梳理,厘清了公允价值的历史脉络,发现公允价值与历史成本一直处于不断竞争的过程中,谁能取得上风的根结在于谁更能适应当时经济环境和制度环境。这为我国结合自身国情和制度文化因素引入公允价值提供了有益的启示。接着在借鉴国内外优秀研究成果的基础上,对公允价值会计的价值相关性理论成果进行了介绍,重点介绍了决策有用观和契约观下的公允价值会计。并以此作为实证研究的起点和基础。实证研究方面引入Ohlson模型,对2006-2011年中国资本市场5年数据应用修正的价格模型和收益模型进行验证,发现新会计准则应用后较旧会计准则有较高的价值相关性,公允价值损益科目与股票价格呈显著正相关关系,而其敏感程度并不大于剔除公允价值损益的每股收益。对国有企业和民营企业两个样本检验发现,国有企业比民营企业更偏向于应用公允价值会计,且国有企业的价值相关性更高。从而证实了不同所有形式下的契约关系对公允价值会计应用效果的影响。在总结以上实证和理论研究的基础上,本文提出在快速与国际会计准则趋同全面引入公允价值的过程中,不能完全引入国际会计准则,要考虑中国特有的制度背景和文化环境。并提出审慎的研究公允价值在我国应用的可能和效果；加快经济发展,改善经济和金融环境；加快资本市场的法律法规和信息披露制度的完善；尽快出台与公允价值会计相适应审计和税法准则四条建议。
[Abstract]:With the rapid development of market economy, capital market and financial instruments, the objective of accounting has changed from the view of fiduciary responsibility to the view of decision usefulness, which puts forward higher requirements for the relevance of accounting information. The fair value measurement model has been applied to accounting standards. Both American and European accounting standards have introduced fair value measurement model in a large number of aspects. In the process of convergence of Chinese accounting standards to international accounting standards, Whether to introduce fair value measurement mode, how to introduce it, and whether to improve the relevance of accounting information in practice are urgent problems to be solved. In this paper, the development of fair value at home and abroad is first combed, the historical context of fair value is clarified, and it is found that fair value and historical cost have been in the process of continuous competition. The root of who can gain the upper hand lies in who can adapt to the economic and institutional environment at that time, which provides a beneficial enlightenment for our country to introduce fair value in combination with its own national conditions and institutional cultural factors. Then, on the basis of drawing lessons from domestic and foreign excellent research results, the paper introduces the theory of fair value accounting value correlation. This paper mainly introduces the fair value accounting under the view of decision usefulness and contract, and takes it as the starting point and foundation of empirical research. In empirical research, Ohlson model is introduced. This paper verifies the revised price model and income model of China's capital market from 2006 to 2011, and finds that the new accounting standards have higher value relevance than the old ones. There is a significant positive correlation between the subjects of fair value profit and loss and the stock price, but its sensitivity is not greater than that of earnings per share excluding the gains and losses of fair value. State-owned enterprises are more inclined to apply fair value accounting than private enterprises, and the value correlation of state-owned enterprises is higher, which proves the influence of contract relationship in different forms on the application effect of fair value accounting. On the basis of the above empirical and theoretical research, this paper puts forward that in the process of fast convergence with international accounting standards and comprehensive introduction of fair value, we can not completely introduce international accounting standards. It is necessary to consider the unique institutional background and cultural environment of China, and put forward a prudent study of the possibility and effect of fair value application in China, speed up economic development and improve the economic and financial environment. Accelerate the perfection of the laws and regulations of capital market and the information disclosure system, and make four suggestions to adapt to the fair value accounting and auditing and tax law standards as soon as possible.
【学位授予单位】：华北电力大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F233;F275

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