合并报表与母公司报表决策有用性研究

发布时间：2018-07-13 14:21

【摘要】：由于企业集团化进程的加快以及公众对会计信息监管的呼声越来越高，合并财务报表成为决策的重要信息来源被众多上市公司所编制。长期以来，业内学者与专家都把较多目光投向合并财务报表研究上，，基本上集中探讨了合并财务报表编制的理论基础、编制方法以及不同合并方法的经济后果，但国内对母公司个别报表的研究仍属空白。本文针对我国采用双披露制，即同时披露母公司财务报表和合并财务报表，分析研究了合并报表与母公司财务报表对投资者、债权人、管理者的决策有用性。本文在简单介绍合并财务报表与母公司财务报表的相关理论基础上，结合国内外关于合并财务报表与母公司财务报表的有用性研究，在我国现有的双披露制度背景下，通过实证分析，探讨合并财务报表和母公司财务报表对投资人、债权人和管理者的有用性。具体结论如下：（1）在股价解释能力方面，合并财务报表整体上要优于母公司财务报表，因此在进行投资决策时，投资者应该更多的关注合并财务报表所提供的财务信息。（2）在偿债能力方面，合并财务报表与母公司财务报表所提供的财务指标有显著差异，并且合并财务报表所反映的偿债能力较差。因此母、子公司的债权人在进行信贷决策时，应该以母、子个别财务报表为主，合并财务报表为辅。（3）在盈利能力方面，合并财务报表与母公司财务报表所提供的盈利信息有显著的差异，管理者在进行集体经营决策以及集体间的业绩对比时，合并财务报表更有用。
[Abstract]:Due to the accelerating process of enterprise collectivization and the increasing public voice on the supervision of accounting information, consolidated financial statements have become an important source of information for decision-making by many listed companies. For a long time, scholars and experts in the industry have paid more attention to the study of consolidated financial statements, basically focusing on the theoretical basis of the compilation of consolidated financial statements, the compilation methods and the economic consequences of different merging methods. However, the domestic research on the parent company individual statements is still blank. Based on the double disclosure system, that is, to disclose the financial statements of the parent company and the consolidated financial statements simultaneously, this paper analyzes the usefulness of the combined statement and the financial statement of the parent company to investors, creditors and managers. On the basis of brief introduction of the theory of consolidated financial statements and parent company financial statements, this paper studies the usefulness of consolidated financial statements and parent company financial statements at home and abroad, under the background of the existing double disclosure system in China. Through empirical analysis, this paper discusses the usefulness of consolidated financial statements and parent financial statements to investors, creditors and managers. The specific conclusions are as follows: (1) the consolidated financial statements are better than the parent financial statements as a whole in terms of the explanatory power of stock prices, so when making investment decisions, Investors should pay more attention to the financial information provided by the consolidated financial statements. (2) in terms of solvency, there are significant differences between the financial indicators provided by the consolidated financial statements and the financial statements of the parent company. And consolidated financial statements reflect poor solvency. Therefore, when the creditors of the parent and subsidiary companies make credit decisions, they should focus on the parent and sub-individual financial statements, supplemented by the consolidated financial statements. (3) in terms of profitability, There are significant differences between the combined financial statements and the earnings information provided by the financial statements of the parent company. The combined financial statements are more useful when managers make collective management decisions and compare the performance among groups.
【学位授予单位】：石家庄经济学院
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F231.5;F275

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