资本市场中会计信息有用性的检验方法述评

Capital Market and Empirical Test Methods of the Usefulness of Accounting Information:A Review

会计信息披露制度对降低信息不对称、促进资本市场的有效运转起着至关重要的作用。比弗、鲍尔和布朗创建了会计信息有用性实证检验的两种基本模式,使得会计信息是否有用成为实证的问题而非分析性的问题,之后关于此问题的研究均未曾跳出这两种模式的基本框架。这两种模式的研究思路和研究方法存在关键性的区别,我国学者在相关研究中应根据研究问题的需要,对两种模式的适用性进行评估与改进,以适应我国资本市场的研究情境。

Accounting information disclosure system plays an important role in reducing the information asymmetry and in promoting effective functioning of the capital market. Beaver, Ball and Brown respectively construct the mode for testing the usefulness of accounting information. They make the usefulness of accounting information an empirical issue rather than analytical problem. Later studies on this issue have not transcended the framework of the two modes. This study introduces the research idea and methods of these two modes, and illustrates their key differences. In the end, it recommends that Chinese scholars should modify the modes to meet the needs of their research and the situation of capital market in China if necessary.