解析新会计准则对会计信息价值相关性的影响

The Effect of the New Accounting Standards on Value Relevance of Accounting Information

本文研究了新会计准则对会计信息价值相关性的影响。我们发现,新准则实施后,会计信息总体的价值相关性显著提高,并且受新准则影响部分的价值相关性改善程度显著高于不受影响的部分。在此基础上,我们还分析了公允价值计量对受影响部分信息质量改善的贡献。研究还发现,对于非金融行业,非公允净资产比公允净资产更具有价值相关性;而对于金融行业,二者没有显著差别。本文的研究表明,新会计准则确实将原有准则的不合理部分做了修正,其实施有助于会计质量的整体提高。但是这种修正并不是简单地盲目采用公允价值,而是综合考虑各种计价方式的结果。本文的研究结果对中国乃至国际会计准则的改革提供了有意义的信息。

This paper investigates the effect of the new accounting standards on the value relevance of accounting information. We find that value relevance of accounting information is improved after the adoption of new standards, especially for items affected by the standards, We further analyze the contribution from the fair value method on the information improvement of the affected items. We find that for non-financial industries, items not measured by fair value are less value relevant than those measured by fair value, hut for financial industries there is no significant difference between the two. Our results suggest that the new accounting standards improves the unreasonable parts under the old standards and the overall accounting information quality. The improvement is not from taking the fair value method blindly, but from considering some methods all together.