03 会计信息价值相关性研究.pptVIP

03 会计信息价值相关性研究 有关文献 Barth et al. 2001. The relevance of the value relevance literature for financial accounting standard setting: another view. JAE 31: 77-104. --------BBL2001 Collins, D., Maydew, E., Weiss, I., 1997. Changes in the value-relevance of earnings and book values over the past forty years. JAE 24, 39–67. -------- CMW1997 Holthausen, R.W., Watts, R.L., 2001. The relevance of the value relevance literature for financial accounting standard setting. JAE 31: 3-75. -------- HW2001 Kothari, S.P., 2001. Capital markets research in accounting. JAE 31, 105–231. Kothari, S.P., Zimmerman, J., 1995. Price and return models. JAE 20, 155–192. --------KZ1995 何谓价值相关性 BBL(2001) In the extant literature, an accounting amount is defined as value relevant if it has a predicted association with equity market values The first study that uses the term ‘‘value relevance’’ to describe this association is Amir et al. (1993). Academic researchers are the primary producers and intended consumers of value relevance research. 为什么研究价值相关性 检验会计信息的相关性和可靠性 相关性和可靠性是SFAC No. 5明确提出的两个目标 背景 在20世纪60年代，一些（规范）会计理论家认为基于历史成本的财务会计核算体系难以提供决策有用的信息 Ball Brown(1968)则证明即使是基于历史成本的会计信息仍然能够提供决策有用的信息 价值相关性与相关性、可靠性(BBL2001, P81) Value relevance tests generally are joint tests of relevance and reliability. Finding value relevance indicates the accounting amount is relevant and reliable, at least to some degree, It is difficult to attribute the cause of lack of value relevance to one or the other attribute. association studies information content studies Kothari(2001) Ball and Brown (1968) and Beaver (1968) are the pioneering studies in capital markets research in accounting.Both perform an event study and Ball and Brown also conduct an association study. Both types of studies are now common in the literature. event study( information content study) In an event study, one infers whether an event, such as an earnings announcement, conveys new information to market participants as reflected in changes in