摘要
发展新能源产业是应对环境恶化的重要举措之一。本文选取我国上市公司中395家新能源企业在2007-2009年间的季报数据,运用面板数据分析方法,检验了公允价值变动损益与这类概念股市价的收益率及其波动率之间的相关性,结果表明新会计准则实施以来公允价值变动损益与股价收益率显著正相关,而于收益率的波动显著负相关,进一步表明公允价值变动损益具有信息含量,且并不会增大资本市场的波动风险。
The development of new energy industry is one of the important measures for environmental degradation.This paper selects 395 companies in China＇s new energy enterprises with quarterly financial data from the year of 2007 to 2009.Using panel analysis method,we test the correlation between changes in the fair value of the profit and the yield as well as return volatility,our results show that the correlation between the changes in the fair value and profit share yields is significantly positive because of the implementation of new accounting standards,while it is a significant negative correlation with return volatility,further shows that the changes in the fair value have the information content,which will not increase the risk of capital market fluctuation.
出处
《价值工程》
2010年第19期10-12,共3页
Value Engineering
关键词
新会计准则
公允价值变动
收益率波动
new accounting standards
changes in the fair value
return valatility
