综合收益的价值相关性研究——基于新准则实施的经验证据

发布时间：2019-07-05 05:52

【摘要】：本文基于我国财政部2009年发布的综合收益相关规定,研究了其他综合收益具体项目和综合收益总额的价值相关性问题。经过研究发现,其他综合收益项目中可供出售金融资产公允价值变动与股票价格显著相关;可供出售金融资产公允价值变动、在被投资单位其他综合收益中所享有的份额和外币报表折算差额与股票收益率显著相关。综合收益总额具有比传统的净利润更高的价值相关性,对股票价格和股票年度收益率的解释能力强于净利润指标;但在预测未来净利润和未来经营活动现金净流量时,综合收益预测能力弱于净利润指标。本文通过上述研究在一定程度上为我国相关准则及规定的实施效果提供经验证据,从而为我国准则制定机构提供相应政策建议。
[Abstract]:Based on the relevant regulations of comprehensive income issued by the Ministry of Finance of China in 2009, this paper studies the value relevance of other specific items of comprehensive income and the total amount of comprehensive income. It is found that the fair value change of available financial assets in other comprehensive income items is significantly related to the stock price, and the fair value change of available financial assets is significantly correlated with the stock return on the share of other comprehensive income of the invested units and the conversion difference of foreign currency statements. The total comprehensive income has higher value correlation than the traditional net profit, and the ability to explain the stock price and annual return is stronger than that of the net profit index, but when predicting the future net profit and the net cash flow of future operating activities, the comprehensive income forecasting ability is weaker than the net profit index. Through the above research, this paper provides empirical evidence for the implementation effect of the relevant norms and regulations in our country to a certain extent, so as to provide corresponding policy suggestions for the standard-setting institutions in our country.
【作者单位】：中央财经大学会计学院;
【基金】：中央财经大学“211工程”重点学科建设项目和中央财经大学“会计类专业群(改革试点)”项目资助
【分类号】：F233

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