稳健性与公允价值:基于股票价格反应的规范性分析

Conservatism or Fair Value:An Analysis Based on Stock Price Reactions

本文讨论了企业内外信息不对称性对稳健性原则和公允价值计量方法的影响,并结合现代经济特点,认为股权投资者应该成为会计信息的主要服务对象。大量实证研究结果表明稳健会计方法和激进会计方法同样给股权投资者理解会计信息造成障碍,因此在会计准则中适当引入公允价值计量方法是有益于资本市场发展的。

In this paper we discuss how information asymmetry between firms and outside accounting information users affect conservatism principle and fair value accounting.We argue that in modern economy,accounting information should mainly serve the needs of equity investors.A large body of empirical evidence shows that conservative accounting and aggressive accounting both mislead investors,therefore,incorporating fair value accounting into accounting standards will benefit the development of capital markets.