QQ客服 官方微博 反馈留言

	公允价值的预测能力研究——来处A股市场交易性金融工具的经验证据; The Predictive Ability of Fair Value:Empirical Evidence from Trading Financial Instruments in Chinese A-Share Markets
	曲晓辉 ; Xiaohui Qu ; 张瑞丽 ; Ruili Zhang
	2015-06
关键词	公允价值 fair value 历史成本 historical cost 预测能力 predictive ability 价值相关性 value-relevance
英文摘要	【中文摘要】虽然决策有用观主导的会计目标论对财务报告的影响逐步增加，公允价值计量属性在会计计量中的地位日益凸显，但现有文献中关于公允价值预测功能的研究还比较少。针对公允价值是否能够更好地预测未来收益以及公允价值的预测能力是否有助于促进公允价值的价值相关性，本文以交易性金融工具为研究对象，以2007〜2013年A股上市公司为样本，以归属于交易性金融工具的暂时性差异来衡量公允价值与历史成本之间的差异，经验证据发现相比于历史成本，公允价值对未来收益具有增量的预测能力。进一步地，价格模型和收益模型的检验结果均表明，交易性金融工具公允价值的价值相关性随着公允价值的预测能力的提高而增强。 【Abstract】Although decision-making-usefulness-oriented accounting objective theory has had substantial impacts on financial reporting in recent years and fair value measurement is playing an increasingly important role in accounting measurement? there is little research on the predictive ability of fair value in extant accounting literature. Does fair value predict future earnings better than historical costs? Does the predictive power of fair value contribute to the value-relevance of fair value? We answer the questions by examining tradable financial instruments for a sample of Chinese A-share listed companies during 2007-2013. Both the Vuong test and multiple regression analysis suggest that fair value predicts earnings better than historical costs. The difference between fair value and historical costs is measured by book-tax difference. Our further results show that the predictive ability of fair value has a positive effect on the value-relevance of fair value.The value-relevance of tradable financial instruments’ fair values increase with their predictive ability? and the results from the price model are in line with those from the return model.; 国家社会科学基金“公允价值信息采集及指数构建研究(13AJY005)和教育部人文社会科学重点研究基地重大项目“国际趋同的公允价值计量模型设计及效果检验”(14JJD790008)
语种	中文
出版者	厦门大学《当代会计评论》编辑部
内容类型	其他
源URL	[http://dspace.xmu.edu.cn/handle/2288/98253]
专题	2015年第8卷
推荐引用方式 GB/T 7714	曲晓辉,Xiaohui Qu,张瑞丽,等. 公允价值的预测能力研究——来处A股市场交易性金融工具的经验证据, The Predictive Ability of Fair Value:Empirical Evidence from Trading Financial Instruments in Chinese A-Share Markets. 2015-06-01.

个性服务

查看访问统计

相关权益政策

暂无数据

收藏/分享

除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。