公允价值论文：公允价值顺周期效应对会计稳健性的影响研究
【中文摘要】2007年肇始于美国的次贷危机所引发的全球性金融危机,不但造成了巨大的经济损失,也引起了国际社会及准则制定机构纷纷探索危机产生的深层原因和应对性措施。美国金融机构认为“按市值计价”计量原则在经济剧烈波动时期,非理性地虚增或剧减企业资产的真实价值,不合理地高估或低估企业利润,最终所导致的会计信息失真是危机爆发的主要诱因之一。这种指责迫使美国在随后颁布的经济稳定法案中明确规定暂停使用公允价值计量。从最初认为公允价值是金融资产最佳计量属性,进而指责其是诱导危机爆发的不可或缺的因素之一,最后暂停使用。美国公允价值应用理念的转变,促使会计理论界对公允价值微观技术层面上的可靠性和相关性进行了深度反思。这次危机在一定程度上也映射出公允价值计量理论所探求的真实与公允观理念和会计稳健性对资产与负债、收入与费用不对称会计处理方法的背离,深层次角度上披露了各经济主体利益动态博弈和会计信息经济后果之本质。此次危机所导致的严重经济后果,也引起社会各阶层普遍关注和探讨公允价值宏观经济层面上的顺周期性。我国财政部会计准则委员会(China Accounting Standards Committee,简称CASC)2006年发布了39项新准则,在金融工具确认和计量、金融工具列报、投资性房地产、资产减值等17项具体准则中明确指出了公允价值应用范围。但在经济全球化和国际会计准则日益趋同的过程中,由于我国在公允价值应用范围和水平等方面与发达国家相比仍存在一定差距,公允价值顺周期效应在危机中导致的严重经济后果无时无刻不在警醒着社会各个阶层。因此,如何合理有效地应用公允价值在增强财务信息相关性的同时兼顾稳健性原则,具有非常重要的理论意义和现实意义。对此,本文结合我国现实政治和经济体制背景,选取公允价值顺周期效应为视角对我国上市公司会计稳健性进行探索研究。本文研究共由五个部分构成：第一部分首先简要概述了本文的和研究意义,在详细归纳与总结国内外研究动态的基础上,明确本文的研究框架与研究思路,指出本文的创新点与研究不足。第二部分主要介绍了公允价值顺周期效应和会计稳健性相关概念,阐述了公允价值顺周期效应的特征,简要总结了会计稳健性的度量方法,梳理分析公允价值与会计稳健性的理论基础。第三部分在公允价值计量周期统计描述的基础上,对公允价值顺周期效应波动影响会计稳健性水平的传导机制进行深入探讨,从定性的角度分析经济发展不同时期下公允价值计量对会计稳健性的影响趋势。第四部分选取经济发展不同时期下2007-2009年我国A股上市公司财务数据作为样本,构建综合回归模型,实证检验公允价值顺周期效应对会计稳健性产生的波动影响。第五部分以相关理论与实证分析为依据,结合我国特殊的政治和经济体制背景,提出本文的主要研究结论、对策建议和研究展望。本文的创新及特色在于：首先,国内外学者在单一技术层面上对公允价值和会计稳健性理论研究可谓汗牛冲栋,但在宏观经济层面上对公允价值与会计稳健性的结合研究实属凤毛麟角。本文选取公允价值的顺周期效应为视角对会计稳健性进行前瞻性探索研究,在宏观经济层面上拓展了对会计稳健性研究的新思路,丰富了公允价值与会计稳健性关系的理论研究。其次,本文选取处于经济发展不同时期下2007-2009年沪、深两市A股上市公司财务数据为样本,并在对盈余-股价回报关系度量模型与Ball和Shivakumar的应计-现金流关系度量模型进行修正的基础上,实证分析公允价值顺周期效应所引起的会计稳健性的变动程度,增强了实证分析的严谨性和可比性,使研究结论更具说服力。
【英文摘要】Result from American subprime crisis caused global financial crisis in 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 financial 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 main causes of 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 using. The United States transformation of fair value applied concept, prompting accounting theoretical reflect on the reliability and correlation of fair value micro technology crisis in part mapping out the fair value measurement theory search true and fair view concept and conservatism towards assets and liabilities, income and expenses accounting methods asymmetry of profound disclosure each economy subject interests dynamic game and the essence of the economic consequences of financial 2006,China Accounting Standards Committee presented released 39 new 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 convergence, 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 value 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 China accounting conservatism explorations 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 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 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 selects 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 theoretical and empirical analysis, combines with political and economic system background of our contry, puts forward the main conclusion, countermeasures and research characteristics and innovation of this paper is that:first, domestic and foreign scholars makes abundant theoretical research 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 conservatism, 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 the preciseness and comparability of empirical makes research conclusion more persuasive.
【关键词】公允价值 顺周期效应 会计稳健性 历史成本
【英文关键词】Fair value Procylicality Accounting Conservatism Historical cost
【目录】公允价值顺周期效应对会计稳健性的影响研究
摘要
3-5
Abstract
5-6
第一章 引言
8-16
一、研究背景与研究意义
8-10
二、国内外研究文献综述
10-14
三、研究思路与研究方法
14-15
四、研究创新与不足
15-16
第二章 公允价值与稳健性相关理论分析
16-28
一、公允价值及其顺周期效应相关概念
16-19
二、会计稳健性相关概念及其度量
19-23
三、公允价值与会计稳健性的理论基础
23-28
第三章 公允价值顺周期效应对会计稳健性的作用机理分析
28-36
一、公允价值计量周期的统计描述
28-29
二、经济繁荣期公允价值计量对稳健性的作用机理分析
29-34
三、经济紧缩期公允价值计量对稳健性的作用机理分析
34-36
第四章 公允价值顺周期效应对会计稳健性影响的实证分析
36-47
一、数据来源与样本的选取
36
二、研究假设
36-37
三、研究模型和变量指标的选取
37-40
四、实证检验及分析
40-47
第五章 主要研究结论、建议及展望
47-50
一、研究结论
47
二、对策建议
47-49
三、研究展望
49-50
参考文献
50-54
附图表
54-81
致谢
81-82
攻读硕士学位期间发表的学术论文
82
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