公允價值論文：公允價值順周期效應對會計穩(wěn)健性的影響研究

1、公允價值論文：公允價值順周期效應對會計穩(wěn)健性的影響研究【中文摘要】2007年肇始于美國的次貸危機所引發(fā)的全球性金融危機,不但造成了巨大的經濟損失,也引起了國際社會及準則制定機構紛紛探索危機產生的深層原因和應對性措施。美國金融機構認為“按市值計價”計量原則在經濟劇烈波動時期,非理性地虛增或劇減企業(yè)資產的真實價值,不合理地高估或低估企業(yè)利潤,最終所導致的會計信息失真是危機爆發(fā)的主要誘因之一。這種指責迫使美國在隨后頒布的經濟穩(wěn)定法案中明確規(guī)定暫停使用公允價值計量。從最初認為公允價值是金融資產最佳計量屬性,進而指責其是誘導危機爆發(fā)的不可或缺的因素之一,最后暫停使用。美國公允價值應用理念的轉變,促使會計

2、理論界對公允價值微觀技術層面上的可靠性和相關性進行了深度反思。這次危機在一定程度上也映射出公允價值計量理論所探求的真實與公允觀理念和會計穩(wěn)健性對資產與負債、收入與費用不對稱會計處理方法的背離,深層次角度上披露了各經濟主體利益動態(tài)博弈和會計信息經濟后果之本質。此次危機所導致的嚴重經濟后果,也引起社會各階層普遍關注和探討公允價值宏觀經濟層面上的順周期性。我國財政部會計準則委員會(China Accounting Standards Committee,簡稱CASC)2006年發(fā)布了39項新準則,在金融工具確認和計量、金融工具列報、投資性房地產、資產減值等17項具體準則中明確指出了公允價值應用范圍。

3、但在經濟全球化和國際會計準則日益趨同的過程中,由于我國在公允價值應用范圍和水平等方面與發(fā)達國家相比仍存在一定差距,公允價值順周期效應在危機中導致的嚴重經濟后果無時無刻不在警醒著社會各個階層。因此,如何合理有效地應用公允價值在增強財務信息相關性的同時兼顧穩(wěn)健性原則,具有非常重要的理論意義和現(xiàn)實意義。對此,本文結合我國現(xiàn)實政治和經濟體制背景,選取公允價值順周期效應為視角對我國上市公司會計穩(wěn)健性進行探索研究。本文研究共由五個部分構成：第一部分首先簡要概述了本文的和研究意義,在詳細歸納與總結國內外研究動態(tài)的基礎上,明確本文的研究框架與研究思路,指出本文的創(chuàng)新點與研究不足。第二部分主要介紹了公允價值順周

4、期效應和會計穩(wěn)健性相關概念,闡述了公允價值順周期效應的特征,簡要總結了會計穩(wěn)健性的度量方法,梳理分析公允價值與會計穩(wěn)健性的理論基礎。第三部分在公允價值計量周期統(tǒng)計描述的基礎上,對公允價值順周期效應波動影響會計穩(wěn)健性水平的傳導機制進行深入探討,從定性的角度分析經濟發(fā)展不同時期下公允價值計量對會計穩(wěn)健性的影響趨勢。第四部分選取經濟發(fā)展不同時期下2007-2009年我國A股上市公司財務數(shù)據(jù)作為樣本,構建綜合回歸模型,實證檢驗公允價值順周期效應對會計穩(wěn)健性產生的波動影響。第五部分以相關理論與實證分析為依據(jù),結合我國特殊的政治和經濟體制背景,提出本文的主要研究結論、對策建議和研究展望。本文的創(chuàng)新及特色在

5、于：首先,國內外學者在單一技術層面上對公允價值和會計穩(wěn)健性理論研究可謂汗牛沖棟,但在宏觀經濟層面上對公允價值與會計穩(wěn)健性的結合研究實屬鳳毛麟角。本文選取公允價值的順周期效應為視角對會計穩(wěn)健性進行前瞻性探索研究,在宏觀經濟層面上拓展了對會計穩(wěn)健性研究的新思路,豐富了公允價值與會計穩(wěn)健性關系的理論研究。其次,本文選取處于經濟發(fā)展不同時期下2007-2009年滬、深兩市A股上市公司財務數(shù)據(jù)為樣本,并在對盈余-股價回報關系度量模型與Ball和Shivakumar的應計-現(xiàn)金流關系度量模型進行修正的基礎上,實證分析公允價值順周期效應所引起的會計穩(wěn)健性的變動程度,增強了實證分析的嚴謹性和可比性,使研究結論

6、更具說服力?！居⑽恼縍esult from American subprime crisis caused global financial crisis in 2007.It not only caused a huge economic losses, but also had caused the international society and standard setting bodies pay attention to exploring the deep reason and countermeasures of the crisis. American financia

7、l institutions believe that “based mark-to-market” measuring principle in economic volatility period, irrational to add or diminish the real value of the enterprise assets, unreasonably overvalued or undervalued corporate profits, ultimately lead to accounting information distortion is one of the ma

8、in causes of crisis.This forced the United States issued economic stability act specified stop using the fair value measurement. From originally thought the fair value is best measurement attribute of financial assets, and accused the induction crisis is one of the indispensable factor, finally stop

9、 using. The United States transformation of fair value applied concept, prompting accounting theoretical reflect on the reliability and correlation of fair value micro technology level.The crisis in part mapping out the fair value measurement theory search true and fair view concept and conservatism

10、 towards assets and liabilities, income and expenses accounting methods asymmetry of deviation.It profound disclosure each economy subject interests dynamic game and the essence of the economic consequences of financial information.In 2006,China Accounting Standards Committee presented released 39 n

11、ew Standards in financial instruments, recognition and measurement, financial tools presentation, investment real estate, asset impairment 17 specific Standards such as pointed out by fair value range. But in economic globalization and international accounting standards in the process of growing con

12、vergence, because our country in fair value application range and application level compared with the developed countries still exist certain disparity, fair value procylicality caused serious economic consequences ever-present watch social classes. Therefore, how to effective application of fair va

13、lue in enhancing the financial information for relevance and conservatism principle have very important theoretical and realistic significance. This paper combines with political and economic system background of our contry, selects fair value procylicality for the view towards listed companies in C

14、hina accounting conservatism explorations research.This paper is divided into five chapters. Chapter one briefly summarizes the background and significance of the research, classifies in detail on the basis of research dynamic, made clear framework and research ideas, points out the innovations and

15、shortage.The second part mainly introduces the concepts of fair value procylicality and accounting conservatism, expounds the characteristics of the fair value procylicality, analyzes the fair value and accounting conservatism theoretical basis. The third part bases on the statistics description of

16、fair value measurement cycle, explores the transmission mechanism of fair value procylicality towards accounting conservatism and from qualitative angle analyzes the impact trend of fair value measurement on accounting conservatism under different periods of economic development. The fourth part sel

17、ects the listed company financial data as the samples between 2007 and 2009 under different periods of economic development,construct comprehensive regression model, empirical test the fluctuations of fair value procylicality towards accounting conservatism. The fifth part bases on the relevant theo

18、retical and empirical analysis, combines with political and economic system background of our contry, puts forward the main conclusion, countermeasures and research prospects.The characteristics and innovation of this paper is that:first, domestic and foreign scholars makes abundant theoretical rese

19、arch on fair value and accounting conservatism in single technology level, but combines them in macroeconomic level research is in short supply. This paper makes prospective study on accounting conservatism from the fair value procylicality perspective, extends the new idea of accounting conservatis

20、m, enrich the relationship theory research of fair value procylicality and accounting conservatism. Secondly, this paper selects the listed company financial data as samples between 2007 and 2009 under different periods of economic development, and bases on correction of surplus stock returns model and Shivakumar should plan- and cash flow relations measure model, empirical analysis the fluctuations of fair value procylicality towards accounting conservatism, and enhances