本文選題：價值相關性　切入點：合并財務報表　出處：《長安大學》2013年碩士論文　論文類型：學位論文

【摘要】：上市公司財務報表的編制和披露是資本市場健康發(fā)展的重要因素，在有效市場中，股價則是利益相關者基于會計信息進行決策的反映。在資本市場的風云變化下，面對報表信息需求者的多元化需求，無論是從龐大的股票投資人群和信息需求的現(xiàn)實背景來看，還是新會計準則對合并財務報表與母公司財務報表的重視與披露角度出發(fā)，上市公司合并財務報表與母公司財務報表價值相關性的差異研究均是亟待研究的重要問題之一。因此，本文從有效市場理論出發(fā)，結(jié)合會計信息與股價之間的作用機理與基于信息與股價作用機理的利益相關者的需求分析，結(jié)合現(xiàn)有研究，構(gòu)建考慮償債能力指標和更多控制變量的價值相關性模型，通過多元回歸等統(tǒng)計方法實證檢驗合并財務報表與母公司財務報表的價值相關性差異。取得的主要創(chuàng)新及結(jié)論如下： 首先，不同于以往的主要集中在合并財務報表所反映的會計信息對股價的影響研究，本研究將母公司報表所反映的會計信息納入到了價值相關性考慮范圍之內(nèi)，力求探析母公司報表數(shù)據(jù)與股價的關系規(guī)律。 其次，對價值相關性的概念進行了界定，較為系統(tǒng)的闡述了會計信息與股價反映研究所映射的有效市場理論；分析了信息觀、計價模型觀以及契約觀下會計信息與股價的作用機理，，并基于上述理論對利益相關者的會計信息需求進行了研究。 最后，提出了考慮償債能力指標的研究假設，構(gòu)建增加控制公司治理、股東代理人關系、審計意見和公司規(guī)模等控制變量的反映股價的擴展模型；并進行SPSS統(tǒng)計學分析，最終得出：償債能力指標具有信息含量；將反映盈利能力和償債能力的指標和控制變量共同應用到擴展模型中，模型的擬合優(yōu)度最高；合并財務報表比母公司報表具有更高的價值相關性；控制變量對于股價的反映因模型選擇不同而異等實證檢驗結(jié)論。
[Abstract]:The preparation and disclosure of financial statements of listed companies is an important factor for the healthy development of capital market. In the efficient market, stock price is the reflection of stakeholders' decision based on accounting information. Facing the diversified demand of the information demanders, whether from the realistic background of the huge stock investment crowd and the information demand, or from the angle of the new accounting standards' attention and disclosure to the consolidated financial statements and the parent company's financial statements, The research on the value correlation between the combined financial statements of listed companies and the financial statements of the parent company is one of the most important issues to be studied. Combining the function mechanism between accounting information and stock price and the needs analysis of stakeholders based on information and stock price mechanism, combined with the existing research, a value correlation model considering solvency index and more control variables is constructed. This paper empirically tests the value correlation difference between the combined financial statements and the parent financial statements by means of statistical methods such as multiple regression. The main innovations and conclusions are as follows:. First of all, different from the previous research on the impact of accounting information reflected in consolidated financial statements on stock prices, this study brings the accounting information reflected in parent company statements into consideration of value relevance. Try to explore the relationship between the parent company report data and stock price. Secondly, the concept of value correlation is defined, and the effective market theory of accounting information and stock price reflection research is systematically expounded, and the information view is analyzed. Based on the pricing model view and the mechanism of accounting information and stock price under the contract view, this paper studies the accounting information needs of stakeholders based on the above theory. Finally, the research hypothesis considering solvency index is put forward, and an extended model of controlling variables, such as increasing control of corporate governance, stockholder agent relationship, audit opinion and company size, is constructed to reflect the stock price, and the SPSS statistical analysis is carried out. Finally, it is concluded that the indexes of solvency have information content, the indexes and control variables reflecting profitability and solvency are applied to the extended model together, and the model has the highest degree of goodness of fit. The combined financial statement has higher value correlation than the parent company's; the reflection of the control variable to the stock price is different according to the model selection and other empirical test conclusions.
【學位授予單位】：長安大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F231.5

【引證文獻】

相關期刊論文 前2條

1 雷琪;;關于合并財務報表審計相關問題的思考[J];企業(yè)改革與管理;2014年18期

2 彭鳳瓊;;有關合并財務報表的價值相關性研究[J];現(xiàn)代經(jīng)濟信息;2015年11期

本文編號：1642976