公允价值第三级次计量:悖论、成因与改进

Level 3 of Fair Value Hierarchy:Paradox,Causes and Improvements

本文首先分析了公允价值第三级次计量中存在的"审计"悖论,然后基于交易成本和信息不对称理论对资产特性、交易特征以及公允价值第三级次信息可验证性三者间的内生逻辑关系进行了推演。本文发现,专用性程度、交易特性、持有目的的失真反映和重要价值组成要素的计量缺失是"审计"悖论产生的两个重要原因。最后,本文提出了改进该级次计量的思路。

Aiming at the difficulty of the level 3 of the fair value hierarchy,this paper analyzes the contents of the difficulty and their causes on the angle of view in asset specificity. This paper argues that the measurement of fair value should be the unifying of market value and special value,and should be the unifying of marking to market and entity-specific measurement. The division of hierarchy should not only be based on the active level of market. At last,this paper suggests the method of improving the level 3 measurement.