本文關(guān)鍵詞：公允價(jià)值對我國商業(yè)銀行業(yè)績的影響研究　出處：《西南財(cái)經(jīng)大學(xué)》2012年碩士論文　論文類型：學(xué)位論文

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【摘要】：從原始社會結(jié)繩記事伊始,會計(jì)隨著社會進(jìn)步的而發(fā)展,對不同會計(jì)對象進(jìn)行計(jì)量的會計(jì)計(jì)量就成為了會計(jì)系統(tǒng)的核心職能,從復(fù)式簿記進(jìn)行記錄到通過財(cái)務(wù)三表最終匯總信息,提供給多方信息使用者,都離不開計(jì)量。會計(jì)計(jì)量方法和原則成為技術(shù)層面重要的因素。在過去很長的一段時(shí)間,由于歷史成本計(jì)量具有計(jì)量方法簡便、取得的歷史數(shù)據(jù)的可靠性和可驗(yàn)證性的特性,使得歷史成本計(jì)量一直成為會計(jì)計(jì)量的首選。但是,歷史成本計(jì)量由于其本身特點(diǎn),必然帶來了歷史數(shù)據(jù)缺乏相關(guān)性的固有局限。因此,實(shí)務(wù)工作界和理論界開始研究討論計(jì)量屬性的新的選擇,希望能另辟蹊徑,解決這一問題,經(jīng)過前人的努力,公允價(jià)值計(jì)量浮出水面,成為現(xiàn)今會計(jì)計(jì)量屬性的另一成員,也成為重要的計(jì)量選擇之一。早在1952年,名為《會計(jì)辭典》書中就能查閱到關(guān)于公允價(jià)值的定義,這一定義出自美國學(xué)者Eric L. Kohler,使得美國成為研究公允價(jià)值最早的國家,到1961年,美國注冊會計(jì)師協(xié)會的Maurice. Moonitz也提到了相類似的“公允價(jià)值”概念。此后FASB對公允價(jià)值的定義進(jìn)行了多次修改,并且正式形成理論結(jié)果。隨著研究的不斷進(jìn)行,公允價(jià)值的概念也在不斷的改進(jìn)、完善。同時(shí),隨著我國市場經(jīng)濟(jì)的不斷成熟和發(fā)展,帶動(dòng)了更多的企業(yè)成長并為國家經(jīng)濟(jì)做出了巨大貢獻(xiàn),公司經(jīng)營管理理念越發(fā)專業(yè)和成熟,不論是公司管理層還是投資者,更加理性的關(guān)注公司業(yè)績,以為后續(xù)的決策做出相應(yīng)反應(yīng)。 回顧2007年的美國次貸危機(jī),距今不長的時(shí)間里,這次事件給全球金融帶來了近百年中最為嚴(yán)重的后果,一夜之間多家資歷雄厚的商業(yè)投資銀行破產(chǎn),失業(yè)人員數(shù)量暴增。這也同時(shí)掀起了社會各界包括監(jiān)管機(jī)構(gòu)、金融業(yè)界、各國學(xué)術(shù)界和媒體的空前熱議,對其發(fā)生的原因和傳導(dǎo)機(jī)制進(jìn)行了分析,而會計(jì)準(zhǔn)則中的公允價(jià)值計(jì)量方法成為眾矢之的,被許多學(xué)者責(zé)認(rèn)為是導(dǎo)致危機(jī)爆發(fā)和傳導(dǎo)的直接介質(zhì)。有學(xué)者進(jìn)一步分析指出,金融危機(jī)中公允價(jià)值計(jì)量方法通過會計(jì)信息,加大了相關(guān)金融工具在市場反應(yīng)中的價(jià)值反映,若市場低落其價(jià)值被大大低估,而市場整體高漲時(shí),其價(jià)值又被高估,且低估或高估的程度,可能會出現(xiàn)無法控制的局面,這種效果被稱之為順周期效應(yīng)。順周期效應(yīng)使得由公允價(jià)值計(jì)量的會計(jì)信息成為一面放大鏡,不論好壞,均使得后果放大,特別的當(dāng)諸如次貸危機(jī)的爆發(fā)、市場秩序混亂導(dǎo)致市場定價(jià)功能癱瘓時(shí),原本在市場交易中扮演重要角色的金融工具,其價(jià)值的計(jì)量依據(jù)缺失公允,致使資產(chǎn)持有者的賬面價(jià)值損失慘重,最終使得凈利潤等業(yè)績指標(biāo)大幅波動(dòng)。業(yè)績指標(biāo)的大幅波動(dòng)雖然實(shí)際上并不由公司自身經(jīng)營不善所致,但外部市場投資者由于信息不對稱的原因,這一波動(dòng)導(dǎo)致了恐慌心理的產(chǎn)生,為了止損,大量拋售股票,又加劇了股票價(jià)格的下跌,如此進(jìn)入又一輪的恐慌和拋售,使得股價(jià)一落千丈,跌入惡性循環(huán)之中,市場整體的不良循環(huán)最終導(dǎo)致了金融危機(jī)的全球性蔓延。金融危機(jī)的爆發(fā),其不良后果延綿數(shù)年,至今美國經(jīng)濟(jì)仍未脫困,這不得不使各國實(shí)務(wù)界、理論界如驚弓之鳥,對金融業(yè)的業(yè)績給予了更多的關(guān)注,公允價(jià)值變動(dòng)成為當(dāng)今熱點(diǎn)問題之一。 為與國際會計(jì)準(zhǔn)則接軌并實(shí)質(zhì)性的趨同,為我國跨國企業(yè)的國際經(jīng)濟(jì)貿(mào)易提供賬務(wù)支持,增強(qiáng)與國際間企業(yè)交流的貿(mào)易競爭力,我國財(cái)政部于2006年2月15日發(fā)布了39項(xiàng)新會計(jì)準(zhǔn)則,包括一項(xiàng)基本準(zhǔn)則和38項(xiàng)具體準(zhǔn)則,并于2007年1月1日正式實(shí)行,主要應(yīng)用于上市公司會計(jì)報(bào)告。我國財(cái)政部同美國財(cái)務(wù)會計(jì)準(zhǔn)則委員會、國際會計(jì)準(zhǔn)則委員會一樣,均對公允價(jià)值進(jìn)行了定義,雖從闡述方式和措辭方面存在差異,但三者都強(qiáng)調(diào)了公允價(jià)值獲取的三個(gè)條件,一是強(qiáng)調(diào)公平交易環(huán)境,公允價(jià)值是在公平交易的平臺之上進(jìn)行,遵循公平市場機(jī)制；二是強(qiáng)調(diào)了交易雙方信息、對稱,交易的雙方都充分了解交易各方需要承擔(dān)的責(zé)任和義務(wù),應(yīng)當(dāng)享有的權(quán)利和利益,信息溝通流暢；三是雙方自愿的基本條件。這一準(zhǔn)則的全面實(shí)施引起了我國相關(guān)實(shí)務(wù)界的高度重視,同樣對于我國銀行業(yè)來說是機(jī)遇也是挑戰(zhàn)。公允價(jià)值計(jì)量的引入成為我國會計(jì)計(jì)量的又一重要變化,公允價(jià)值被歸入基本準(zhǔn)則的會計(jì)屬性之中,公允價(jià)值計(jì)量在新會計(jì)準(zhǔn)則的19項(xiàng)具體準(zhǔn)則中得以體現(xiàn),如金融工具確認(rèn)與計(jì)量、投資性房地產(chǎn)、債務(wù)重組、非貨幣性資產(chǎn)交換和企業(yè)合并等方面。經(jīng)統(tǒng)計(jì),國際會計(jì)準(zhǔn)則委員會(IASB)在相關(guān)準(zhǔn)則、解釋中對公允價(jià)值的引用在2002年、2003年分別達(dá)到75%和90%,所占比例可見一斑；而美國會計(jì)準(zhǔn)則委員會(FASB)在從1990年開始所發(fā)布的55項(xiàng)財(cái)務(wù)會計(jì)準(zhǔn)則公告中有多達(dá)四十一項(xiàng)涉及公允價(jià)值,占到75%的比重。我國新會計(jì)準(zhǔn)則引入公允價(jià)值計(jì)量的這一選擇成為推動(dòng)我國經(jīng)濟(jì)國際化發(fā)展的重要一步,在未來的實(shí)務(wù)中,公允價(jià)值應(yīng)用的范圍會不斷擴(kuò)大。從新準(zhǔn)則中看,我國銀行業(yè)在會計(jì)核算中涉及公允價(jià)值計(jì)量的方面較原有會計(jì)準(zhǔn)則有了根本的變化,并且相較一般行業(yè),范圍更加廣泛,這會從本質(zhì)上改變商業(yè)銀行原有的資產(chǎn)狀況,公允價(jià)值計(jì)量模式的引入必將對商業(yè)銀行的業(yè)績產(chǎn)生影響。 從目前我國對公允價(jià)值研究的文獻(xiàn)來看,以規(guī)范研究為主,因我國啟用公允價(jià)值時(shí)限較短,所以實(shí)證研究較少,而研究公允價(jià)值對業(yè)績影響以及由此在資本市場上的股價(jià)表現(xiàn)的研究成果積累還不豐富。且目前國內(nèi)的學(xué)者大多以某年或相關(guān)年度資本市場的數(shù)據(jù)為樣本進(jìn)行研究,而以整個(gè)資本市場中的數(shù)據(jù)為研究樣本,極少區(qū)分行業(yè)及公司背景,但實(shí)際上,公允價(jià)值的應(yīng)用卻與行業(yè)和公司的情況緊密聯(lián)系,這就可能降低研究結(jié)果的準(zhǔn)確性,導(dǎo)致實(shí)證研究結(jié)果出現(xiàn)偏差。本文以研究公允價(jià)值在商業(yè)銀行中的應(yīng)用對銀行業(yè)績影響為目的,借鑒和學(xué)習(xí)了國內(nèi)外相關(guān)學(xué)者的研究成果,構(gòu)建模型,進(jìn)行了實(shí)證分析。本文共分五章,第一章為本文研究背景及意義、研究方法、框架和創(chuàng)新點(diǎn)的緒論部分。第二章為公允價(jià)值涵義及其確認(rèn)和計(jì)量以及與其他計(jì)量屬性關(guān)系的基本理論鋪墊和公允價(jià)值在國內(nèi)外研究成果的文獻(xiàn)綜述部分。第三章為公允價(jià)值計(jì)量對我國商業(yè)銀行業(yè)績波動(dòng)影響和資本市場股價(jià)影響的理論分析和現(xiàn)狀介紹部分。第四章為實(shí)證研究部分。通過檢驗(yàn)面板數(shù)據(jù),選擇相應(yīng)模型,進(jìn)行了實(shí)證分析,系統(tǒng)研究。第五章為研究結(jié)論與對策建議部分。根據(jù)全文理論分析、統(tǒng)計(jì)研究和實(shí)證研究得出了結(jié)論,并提出政策建議。盡管金融危機(jī)的爆發(fā),促使眾多國內(nèi)學(xué)者將焦點(diǎn)轉(zhuǎn)向研究公允價(jià)值在金融危機(jī)中扮演的角色,但是我國實(shí)證研究的文獻(xiàn)積累仍然較少。目前從國外學(xué)者的研究成果來看,國外的大量研究由于其銀行業(yè)數(shù)據(jù)充分及實(shí)務(wù)需要,著眼于銀行業(yè)的實(shí)證研究成果較豐富。但我國由于引入公允價(jià)值較晚,因此多為定性分析的規(guī)范研究,較常見的實(shí)證研究是公允價(jià)值變動(dòng)對股票市場表現(xiàn)影響的研究,對公允價(jià)值變動(dòng)對銀行業(yè)業(yè)績波動(dòng)的實(shí)證研究其研究方法也多以案例分析和前后相鄰時(shí)間的對比分析較為常見。這主要是因?yàn)槲覈鴱?006年應(yīng)用公允價(jià)值計(jì)量的時(shí)間延續(xù)較短,無法獲得較充足的數(shù)據(jù)樣本。本文的創(chuàng)新之處在于樣本和模型的選擇創(chuàng)新,以我國實(shí)行新會計(jì)準(zhǔn)則為契機(jī),在公允價(jià)值在中國銀行業(yè)的應(yīng)用時(shí)間也有一定積累的前提下,通過整理商業(yè)銀行上市公司2007年至2011年的年報(bào)、中報(bào)和季報(bào)數(shù)據(jù),擴(kuò)大樣本規(guī)模,采用面板模型來解決時(shí)間跨度短、樣本量少的研究障礙,對公允價(jià)值對商業(yè)銀行上市公司業(yè)績波動(dòng)、資本市場表現(xiàn)的影響進(jìn)行了系統(tǒng)的理論和實(shí)證研究,為進(jìn)一步理論研究提供一個(gè)經(jīng)驗(yàn)性證據(jù)。
[Abstract]:From the beginning of the original Jieshengjishi society, with the social progress and the development of accounting, accounting measurement of different accounting objects has become the core function of accounting system, from the double entry bookkeeping records to the final summary information provided through the financial tables, multi information users, all cannot do without measurement. Accounting measurement methods and principles become the technical level of important factors. In the past for a long period of time, due to historical cost measurement with the measurement method is simple, the reliability of historical data and verify the validity of the characteristics, makes the historical cost measurement has become the first choice of accounting measurement. However, the historical cost measurement because of its own characteristics, will inevitably bring about a lack of historical data the correlation between the inherent limitations. Therefore, the practice and theoretical circles began to discuss the new measurement attribute choice, hoping to solve this way A problem, after the previous efforts, the fair value measurement surfaced, become another member of the current accounting measurement attributes, has become one of the important measure. In early 1952, called "can refer to a dictionary of Accounting > book about the definition of fair value, this definition comes from the American scholar Eric L. Kohler, which the United States became the first country of fair value, to 1961, the American Institute of Certified Public Accountants Maurice. Moonitz also mentioned a similar" fair value "concept. After FASB of the definition of fair value has been modified several times, and the official formation of the theoretical results. With the development of the research, the concept of fair value is also constantly improve improved. At the same time, along with the development and maturation of China's market economy, driven by more and more enterprises grow and has made great contribution to the national economy, the business management concept More professional and mature, whether it is the company management or investors, more rational attention to the performance of the company, to make a corresponding response to the subsequent decision.
The U.S. subprime mortgage crisis back in 2007, it is not a long time, the incident to the global financial brought nearly hundred years the most serious consequences, overnight more than experienced commercial investment banks, the number of unemployed persons increased. It also launched a community including regulators, financial industry, unprecedented the hot academic and media discussion of causes and its transmission mechanism were analyzed, and the method of fair value measurement in the accounting standards has become a target for all, many scholars think that responsibility is the immediate cause of the crisis and media transmission. Some scholars further analysis pointed out that the financial crisis in the fair value measurement method by accounting information and increase the relevant financial instruments in the market reaction to reflect the value, if the market is low its value has been greatly underestimated, and the rising market as a whole, its value has been overestimated, and low The assessment or the degree of overestimation, may not be able to control the situation, this effect is called procylicality. Procylicality made by the fair value measurement of accounting information has become a magnifying glass, whether good or bad, the consequences are magnified, especially when such as the outbreak of the subprime crisis, the market disorder lead to market pricing function paralysis, had played an important role in the market transactions in financial instruments, fair value measurement on the basis of the deletion, the carrying value of the asset holders suffered heavy losses, eventually making net profit performance index volatility volatility. Although the performance index does not actually by the company due to their own mismanagement, but due to the external market investors the information asymmetry, the fluctuation caused panic psychology, in order to stop, selling a large number of stocks, exacerbating the stock price decline, such as This enters another round of panic and sell, the price plummeted, fell into a vicious spiral, bad circulation of the market as a whole has led to the global spread of the financial crisis. The outbreak of the financial crisis, the adverse consequences of stretches for several years, since the U.S. economy has not had to make all this out of practice, the theory of financial sector such as a badly frightened person. Industry performance has given more attention, the fair value has become one of the hot issues.
For the convergence with international standards and substantive, provide accounting support for transnational enterprises in China International Economic and trade exchanges, and enhance enterprise international trade competitiveness, China's Ministry of Finance issued 39 new accounting standards in February 15, 2006, including a basic standard and 38 specific standards, and officially implemented in January 1, 2007, mainly used in the accounting report of listed companies. China's Ministry of Finance with the financial accounting standards board and the International Accounting Standards Committee, all of the fair value are defined, although from elaborate ways and wording differences, but the three have highlighted the three conditions of fair value, one is that even bargain the environment, fair value is on the market even bargain platform, follow a fair mechanism; two is that the parties to the transaction information symmetry, trading both sides fully understand The parties should bear the responsibility and obligation, shall enjoy the rights and interests of the information communication smooth; three is the basic condition of voluntary. The full implementation of this rule is highly valued by relevant practice field in China, also for China's banking industry is also the opportunity is a challenge. The introduction of fair value measurement has become another important change of Chinese accounting measurement, fair value accounting properties into basic guidelines, to reflect the 19 specific standards of fair value measurement in the new accounting standards, such as the measurement and recognition of financial instruments, investment property, debt restructuring, non monetary assets exchange by and merged. Statistics, the international accounting Standards Board (IASB) in the relevant standards, interpretations of the fair value of the reference in 2002, 2003 reached 75% and 90%, the proportion of remarkable American accounting standards; The Committee (FASB) in the 55 statement of financial accounting standards issued from 1990 began to have as many as forty-one items related to fair value, accounting for 75% of the proportion. The choice of China's new accounting standards introduced fair value measurement has become an important step to promote the internationalization of China's economic development, in the future practice, the scope of the application of fair value will continue to expand. From the new standards, China's banking industry to the fair value measurement in the accounting aspects compared with the original accounting standards have changed, and compared with the general industry, more widely, it will change the original status of assets of commercial banks from the essence of fair value measurement model the introduction will influence the commercial bank's performance.
From China's current research on the fair value of the literature, based on normative research, for our opening the fair value of time is short, so less empirical research, and the research on the impact of fair value on the performance and results of the share price performance in the capital market of the accumulation is not rich. And the domestic scholars are mostly a or related annual capital market data for the study sample, and to the entire capital market data as the study sample, rarely distinguish between industry and company background, but in fact, the situation of the application of fair value is closely linked with the industry and the company, which may reduce the accuracy of the results of the empirical research results, lead to the deviation in order to study the influence. The fair value application in commercial banks on the performance of the bank for the purpose of learning from the relevant research results at home and abroad, constructed the model, Through the empirical analysis. This paper is divided into five chapters, the first chapter is the research background and significance, the research methods of this paper, the framework and the innovation. The second chapter is literature review and its fair value recognition and measurement and the relationship with other measurement, basic theories and the fair value of the research achievements at home and abroad. The third chapter is the theoretical analysis of status and impact of fair value measurement on fluctuations in the performance of China's commercial banks and capital market stock prices was introduced. The fourth chapter is the empirical study part. Through the test of panel data, select the appropriate model, the empirical analysis, system research. The fifth chapter is the conclusion and suggestion part. According to the theory of statistical analysis, research and empirical research conclusion, and put forward the policy proposal. Despite the outbreak of the financial crisis, prompting many domestic scholars will focus on public The fair value of role in the financial crisis, but the empirical research of Chinese literature accumulation is still small. From the current research results of foreign scholars, researches abroad because of its banking data fully and practical needs, the empirical research focuses on banking results are abundant. But in China since the introduction of the fair value of late. So much for the qualitative analysis of normative research, empirical research is more common is the study of impact on the stock market fair value changes, the changes in the fair value of the empirical banking fluctuations in the performance of the research and the research methods of case analysis and comparison with the neighboring time analysis is more common. This is mainly because of our country from 2006 the application of fair value measurement of the duration is short, unable to obtain sufficient data samples. The innovation of this paper lies in the choice of sample and model innovation, in China For the new accounting standards as an opportunity, at the time of application of fair value in the banking industry has Chinese accumulated under the premise, through the consolidation of commercial banks listed companies from 2007 to 2011 Annual Report and quarterly data, expanding the sample size, use panel model to solve the short span of time, obstacle on small sample size, on the market commercial bank performance fluctuations in the fair value of the impact of capital market, the performance of the system theory and empirical research, provide an empirical evidence for the further theoretical study.

【學(xué)位授予單位】：西南財(cái)經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F233;F830.42

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