摘要
从"价值相关"和"经济后果"这两个角度,通过考察上市公司会计信息披露的市场反应,对新会计制度实施的效果进行实证研究。研究结果发现,2001年之后每股净资产和每股收益对股票价格的联合解释程度有了显著提高,这表明2001年新会计制度的实施使得上市公司会计信息质量有了实质性提高;主营业务变量对新四项计提的市场反应显著,表明新会计制度的实施使得财务报告更好地反映了上市公司盈利质量等真实状况。
This paper makes an empirical analysis on the effect of new accounting system's implementing by examining market reactions of accounting information disclosures of listed company from two angles of value-relevant research and economic consequences research. The empirical results indicate that the explanatory power of earnings and book values for stock prices have increased evidently from 2001, which shows that new accounting system's implementing have improved the quality of listed companies' accounting information, and that the influence of main operation variables on the market reaction of new four accounting rules strengthens,which shows that new accounting system is helpful to lift the earning quality of listed companies.
出处
《广东商学院学报》
2004年第5期65-68,共4页
Journal of Guangdong University of Business Studies
关键词
新会计制度
上市公司
会计信息
价值相关
经济后果
new accounting system
listed company
value relevance
accounting information
economic consequences
