论文部分内容阅读
本文以构成我国证券市场主体的A股上市公司为研究样本,考察了公允价值相对于历史成本以及公允价值自身变动产生的未实现收益的价值相关性问题。实证结果发现:相对于历史成本,公允价值具有增量的价值相关性;金融资产公允价值变动产生的未实现收益具有价值相关性;两种金融资产中,只有可供出售金融资产产生的未实现收益具有价值相关性,交易性金融资产不具有价值相关性。此研究结果不仅为国际会计准则在中国证券市场的应用和实施效果提供了经验证据,同时也能够帮助监管层和实务界正确认识公允价值在股票市场上信息传递方面所起的作用。
This paper takes the A-share listed companies that constitute the main body of the securities market in our country as the research sample to examine the value relevance of the fair value relative to the historical cost and the unrealized return of the fair value itself. The empirical results show that the fair value has an incremental value relevance with respect to the historical cost, the unrealized gains arising from the fair value changes of the financial assets are of value relevance, and only the unrealized realization of the available-for-sale financial assets of the two types of financial assets Revenue has value relevance, and transactional financial asset has no value relevance. The findings not only provide empirical evidence for the application and implementation of IAS in China’s securities market, but also help regulators and practitioners to correctly understand the role that fair value plays in the information transmission in the stock market.