会计准则国际趋同、研究开发支出及其经济后果

International Convergence of Accounting Standards, R&D Expenditure and Economic Consequences

基于2006年颁布的新企业会计准则,文章从契约观和信息观两个角度实证检验了研究开发支出准则变化带来的经济后果。研究发现:(1)新会计准则的实施降低了企业盈余报告的压力,有助于促进企业的R&D投入;(2)新会计准则促进企业提高R&D投入的程度受到管理层持股水平和所有权性质的影响,管理层持股水平高的企业提高程度低,国有企业相对于非国有企业提高程度要低;(3)与原R&D支出会计处理方法相比,新准则更为符合研发投入的经济实质,提高了报表的价值相关性;(4)资本化R&D支出与企业价值正相关,与费用化R&D支出相比,资本化R&D支出的市场定价更高。

Based on the new corporate accounting standards released in 2006, this paper makes an empirical study of the economic consequences caused by the changes in accounting standards concerning R＆D expenditure and arrives at the following conclusions： firstly, the implementation of new accounting standards leads to the reduction in the earnings reports pressure on firms and the increase in R＆D input; secondly, the increase in R＆D input caused by new accounting standards is affected by the level of managerial ownership and corporate ownership, namely a higher level of managerial ownership gives rise to less R＆D input and compared to non-state-ownership, state-ownership results in less R＆D input; thirdly, compared to previous accounting standards, new accounting standards are more consistent with the economic substance of RInD input, thus improving the value relevance of financial statements; fourthly, capitalized R＆D expenditure is positively related to corporate value and is appraised higher than R＆D expenditure recognized as expenses.