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资本市场会计规范效果的价值相关性检验
引用本文:郭旭芬.资本市场会计规范效果的价值相关性检验[J].集美大学学报(哲学社会科学版),2006,9(1):67-71.
作者姓名:郭旭芬
作者单位:广东商学院,会计系,广东,广州,510320
摘    要:从“价值相关”的角度,通过考察上市公司信息披露的市场反应,对中国资本市场会计规范的效果进行实证研究。实证结果发现每股净资产、每股收益两者联合对股价的解释力度自1999年起呈逐年增强的趋势;1998-2000年度和2001-2004年度比较显示2001之后每股净资产和每股收益对股票价格的联合解释程度有了显著提高,这表明更严格的会计规范使得会计信息质量有了实质性提高,进而增强了每股净资产、每股收益和股价的价值相关性。

关 键 词:会计规范  价值相关  企业会计制度
文章编号:1008-889X(2006)01-67-05
修稿时间:2005年5月17日

Empirical Examination of Value-Relevance on Effects of Accounting Regulations in Capital Markets
GUO Xu-fen.Empirical Examination of Value-Relevance on Effects of Accounting Regulations in Capital Markets[J].Journal of Jimei University (Philosophy and Social Sciences),2006,9(1):67-71.
Authors:GUO Xu-fen
Abstract:In order to examine the effect of accounting regulations in China capital markets, this paper takes empirical analysis on market reactions of accounting information disclosures from the angle of value-relevant research. The empirical results indicate that the combined explanatory power of earnings and book values per share for stock prices has an increasing trend since 1999; the combined explanatory power of earnings and book values for stock prices for 2001-2004, compared with that of 1998-2000, has increased distinctly. This indicates that stricter accounting regulations will substantially improve the quality of the accounting information and will thus enhance value-relevance of earnings and book values per share with stock prices.
Keywords:accounting regulations  value relevance  enterprise accounting system
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