国际会计准则和中国会计准则下的价值相关性比较——来自会计盈余和净资产账面值的证据

本文以中国 2 0 0 0年～ 2 0 0 2年既发行A股又发行B股的公司为样本 ,通过不同会计准则下会计信息的价值相关性研究为我国会计准则的国际化改革提供参考意见。在研究中 ,我们发现国际会计准则下的会计信息相对于我国会计准则下会计信息并没有显著更高的价值相关性 ,相反 ,我国会计准则下的会计信息的作用略强于国际会计准则下的会计信息 ,因此简单地要求从本土会计准则倒向国际会计准则的观点并没有得到有力支持。而且 ,不同准则间的会计信息差异具有价值相关性 ,在财务报告中披露不同会计准则下会计信息的差异是有必要的。对于B股市场 ,在披露国际会计准则下会计信息的同时披露本土国际会计准则下会计信息是有必要的 ;但在A股市场却没有找到很强的证据。此外 ,我们还发现会计信息在深市和沪市的作用明显不同。

Comparison Research of Value-relevance Between IAS and Chinese Accounting System

The paper analyzed both A share and B share listed firms in Chinese stock market to compare the value-relevance of different accounting standard and provided some advice on accounting system reforms in China.In the paper, we found that IAS was not superior to Chinese Accounting System. On the contrary, we found that Chinese Accounting System was weakly superior to IAS, so it is not necessary that we easily abandon Chinese Accounting System and simply adopt IAS. While incremental information is value-relevant to investors, so it is necessary for listed firms to disclose the differences between IAS and Chinese Accounting System. In B share market, investors cared for accounting information under both IAS and Chinese Accounting System, while in A share market, investors mainly cared accounting information under Chinese Accounting System. Besides these, we found that the role of accounting information in Shanghai Stock Market was obviously different to that in Shenzhen Stock Market.