公允价值会计信息的价值相关性分析-会计学专业论文.docx

PAGE PAGE IV ABSTRACT In recent years the fair value accounting has been a frontier and a hot topic in the international accounting research. With the continuous development of the capital markets, a large number of derivative financial instruments are in transactions. The accounting measurement methods based on the historical costs gradually expose the drawbacks. In the 1980s, more than 2000 financial institutions fell in trouble, but the financial report based on historical cost measurement model still showed that the performance of these institutions were good. So the investors believed that the financial report that based on historical cost not only couldn’t send early warning signals but also would mislead the investors’ judgments. China’s Ministry of Finance promulgated a new system of accounting standards in February 2006, and stipulated that the new standards should be carried out by listed companies in January 1, 2007. One of the highlights of the new standards is the extensive introduction of the fair value. The main problem that will be discussed in this paper is whether the capital market has a reaction to the introduction of the fair value in the new standard, and whether the share price of the company is affected. Thus the Fair value accounting information has value relevance or not. This paper will test the value relevance of Fair value accounting information by studying whether the share prices of A-shared companies are related to the profits and losses on the changes in fair value and available for sale financial assets net changes in fair value or not. On the base of review of related articles and important theory articles , the paper will choose the samples of A-shared companies from 2009-2011, use price model to research the value relevance of the profits and losses on the changes in fair value and available for sale financial assets net changes in fair value. The empirical results show that share price is related to the profits and losses on