国内会计准则、国际会计准则与股票价值相关性研究

Correlation between Domestic Accounting Standards, International Accounting Standards and Stock Value

采用实证研究的办法,通过Ohlson模型及价格回归分析模型,对2009—2014年同时发行A股、H股的42家上市公司的会计信息进行分析,藉此对国内企业会计准则与国际会计准则披露的会计信息价值相关性进行比较。研究结果显示,以股票价格为被解释变量,以股票内在价值和股票数量为解释变量进行的回归,国际会计准则预测值的回归系数优于国内企业会计准则预测值的回归系数。这说明国内企业会计准则与国际会计准则进行接轨具有必要性,并应注意会计信息应以满足投资者投资需要为首要目的。

This paper is an empirical research into he accounting information of 42 listed corporations that issue both A shares and H shares in 2009-2014 employing Ohlson model and price regression analysis modelso as to compare the correlation the values of accounting information released according to both international and domestic accounting standards. The results show that, taking stock price as explained variable and stockvalue as well as stock number as explaining variables, the regression coefficient of the international accounting standards is better than that of the domestic enterprise accounting standards. This conclusion shows the neces-sity of bridging gap between domestic and international accounting standards while stressing that accounting information should satisfy the investors＇ needs in their decision-making.