（会计学专业论文）公允价值计量对会计稳健性影响的实证研究.pdf

i 2008 , ,1:2: basu ballshivakumar2005 1 2001-20062006 22 2008 20092008 ii abstract fair value and accounting conservatism have always been hot issues in the accounting profession .after the global financial crisis in 2008, people start to suspect the application of fair- value. great concern and discussion have been caused about the issue that whether the application of the fair value measurement has played a positive or negative role, namely, improved or reduced the accounting conservatism on listed company. this paper discusses the application of the fair value measurement and the influence it has on the accounting conservatism of listed companies and how to improve accounting conservatism. the paper includes the following five parts: first part , introduction. mainly discuss the research background, significance, status, ideas and methods. second part, theories of the fair value measurement and accounting conservatism.firstly, introduce the fundamental theories of accounting conservatism, including the meaning and characteristics of the fair value, and the advantages and disadvantages of the change and application in china. then, it indicates the theoretical foundation of accounting conservatism, including accounting conservatism s origin, definition, influential factors, and measurements methods. third part, influential factor analysis of the fair value on accounting conservatism, the core of the paper. firstly, analyzes the relationship between fair value and accounting conservatism and propose two hypotheses: hypotheses1- - the existence of accounting conservatism and hypotheses 2- - the influence of the application of the fair value measurement on accounting conservatism.then, based on the two hypotheses, basu surplus model and shivakumar (2005) cash flow model are chosen to prepare for empirical research with variable option and data screening. forth part, empirical results and analysis. based on the statistics and sensitivity tests, this paper put forward the following conclusions: (1) generally speaking, accounting surplus in our country s listed companies has certain robustness in avoiding period (2001- 2006) and widely used period (2006) of the fair value. they both showing strong accounting conservatism. (2) based on the examination of hypotheses 2, we find that widely introduction of the fair value into china can significantly reduces the accounting conservatism of the listed companies. accounting conservatism was greatly abated,especially in 2008 when the market appears extreme fluctuations.while in 2009 when the market environment was relatively stable, accounting conservatism was improved compared to that of 2008. the result also shows that reasonable use of fair value measurement can alter the accounting conservatism to some extent. final part,conclusion and expectation.it summarizes the whole paper and proposes some limitations of the research. keywords: fair value/accounting conservatism/empirical analysis 1 1.1 2006215 15 2008 2060 basuball shivakumar2005 1.2 1.2.1 1953aicpa arb 1 fasb157 2 20 barth1994 william.r.scott1997 mengle1998 2000 2 financial accounting standards boardfasb 200027 ( ) international accounting standards board iasb200312 3239 iasb 2005 iasb 19903fasb70 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roa 3.3.2 ballshivakumar2005 20 acc cfi200120092007 cfi ballshivakumar2005 3.1 acc= =+ +- - cfi=+- acccfi acccfi acccfi dcfitcfit010 3.1 2007 200120062006 220062007 20062007 3.2 3.2dcfitcfit01od2007 2007l20060 12006 acc 1+2 2006acc 22006 2006 1+32007 21 1+2+3+420072+4 2007 2007 42007 2006 2008 2008 20082006 3.220072008 2009 3.2 20092006 3.3.3 2001-2009a csmarexcelspsseviews (1) (2) ipo (3)stpt (4)acccfi199 22 4.11 csmar 54 spssexcel r(%)eps/p(%) 20015202.830.2216.33124.891.201.222.34-226.63 2002659-6.02-10.3320.56202.681.641.712.66-161.41 2003730-5.55-9.7525.11123.391.921.943.15-113.02 2004772-4.43-11.0225.63202.362.322.433.69-140.71 20058033.66-8.1545.79162.063.093.464.81-154.30 200665250.2338.1587.9962.134.654.793.83-85.13 2007921-3.22-15.1644.23201.982.352.812.47-110.13 2008685-5.20-13.7950.47188.761.891.923.20-167.44 2009879-3.19-15.3039.68177.242.152.392.56-112.18 4-120012009eps/p r eps/p 4.22 2 20% 4-2 23 200720062008200620092006 ttt 0.0120.080.0120.030.0120.05 dcfi0.3121.330.3120.440.3121.08 cfi-0.413-7.46 * -0.413-2.72 * -0.413-6.23 * dcfi*cfi+0.0580.380.0580.120.0580.24 d20070.2431.19 d2007*dcfi-0.124-0.36 d2007*cfi0.1160.64 d2007*dcfi*cfi-0.853-2.98 * d2008?0.2980.56 d2008*dcfi?-0.568-0,66 d2008*cfi?1.5445.68 d2008*dcfi*cfi-1.824-3.44 * d2009?0.1991.21 d2009*dcfi?-0.325-0.36 d2009*cfi?0.2010.85 d2009*dcfi*cfi-0.693-2.68 * f value 16.5312.5318.31 adj-r2(%)21.4215.8922.62 496519551 *1% 120072006 4=-0.8530t=-2.981% 2007 2006 220082006 4=-1.8240t=-3.441% 2008 2006 320092006 4=-0.6930t=-2.681% 2009 200620072008 24 4.3 22006-2009 2001-20062001-2006 2006 20072001-200620082001-200620092001-2006 ttt 0.0781.270.0780.550.0781.47 dcfi0.0490.520.0490.230.0490.78 cfi-0.512-13.77 * -0.512-6.72 * -0.512-10.23 * dcfi*cfi+0.173-3.810.173-1.170.1732.26 d20070.1561.17 d2007*dcfi-0.141-0.56 d2007*cfi0.2111.29 d2007*dcfi*cfi-0.651-2.72 * d2008?0.3451.30 d2008*dcfi?-0.985-1.60 d2008*cfi?1.4777.78 d2008*dcfi*cfi-1.992-5.43 * d2009?0.1631.46 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