公允价值会计信息对银行贷款契约有用吗——基于上市公司数据的实证检验

本文以2007-2009年上市公司财务会计信息为样本,实证检验新会计准则引入的公允价值会计信息是否以及如何影响公司获取银行贷款,以探讨公允价值会计改革是否有利于提高会计信息的债务契约有用性。研究结果发现,银行贷款与公司核心盈利能力、偿债能力和贷款需求显著相关,企业取得的短期贷款规模与公允价值变动损益相关,但显著水平较低;长期贷款与公允价值变动损益信息无显著相关性;银行能够区分公允价值变动损失与资产减值损失稳定性不同。

Is the Fair-value Accounting Information Useful to Bank Loan Contract --Empirical Evidence from Listed Companies Level Data

The purpose of this paper is to test if and how fair-value accounting information is useful to bank loan contract.The results show that the bank loan is correlated with the loan needs,financial liquidity and core earning power,the scale of short-term loan is positively correlated with the gain from fair value changes significantly,and has significantly negative correlation with the loss from fair value changes.However,compared with the loss of impairment of assets,core operating earnings and investment income,the coefficient and significance levels of the gain and loss from fair value changes are lower.Long-term loan decision has no obvious correlation with the information of the gain and loss of changes in fair value.