【摘要】：由于企業(yè)集團化進程的加快以及公眾對會計信息監(jiān)管的呼聲越來越高，合并財務報表成為決策的重要信息來源被眾多上市公司所編制。長期以來，業(yè)內(nèi)學者與專家都把較多目光投向合并財務報表研究上，，基本上集中探討了合并財務報表編制的理論基礎、編制方法以及不同合并方法的經(jīng)濟后果，但國內(nèi)對母公司個別報表的研究仍屬空白。本文針對我國采用雙披露制，即同時披露母公司財務報表和合并財務報表，分析研究了合并報表與母公司財務報表對投資者、債權(quán)人、管理者的決策有用性。 本文在簡單介紹合并財務報表與母公司財務報表的相關理論基礎上，結(jié)合國內(nèi)外關于合并財務報表與母公司財務報表的有用性研究，在我國現(xiàn)有的雙披露制度背景下，通過實證分析，探討合并財務報表和母公司財務報表對投資人、債權(quán)人和管理者的有用性。具體結(jié)論如下：（1）在股價解釋能力方面，合并財務報表整體上要優(yōu)于母公司財務報表，因此在進行投資決策時，投資者應該更多的關注合并財務報表所提供的財務信息。（2）在償債能力方面，合并財務報表與母公司財務報表所提供的財務指標有顯著差異，并且合并財務報表所反映的償債能力較差。因此母、子公司的債權(quán)人在進行信貸決策時，應該以母、子個別財務報表為主，合并財務報表為輔。（3）在盈利能力方面，合并財務報表與母公司財務報表所提供的盈利信息有顯著的差異，管理者在進行集體經(jīng)營決策以及集體間的業(yè)績對比時，合并財務報表更有用。
[Abstract]:Due to the accelerating process of enterprise collectivization and the increasing public voice on the supervision of accounting information, consolidated financial statements have become an important source of information for decision-making by many listed companies. For a long time, scholars and experts in the industry have paid more attention to the study of consolidated financial statements, basically focusing on the theoretical basis of the compilation of consolidated financial statements, the compilation methods and the economic consequences of different merging methods. However, the domestic research on the parent company individual statements is still blank. Based on the double disclosure system, that is, to disclose the financial statements of the parent company and the consolidated financial statements simultaneously, this paper analyzes the usefulness of the combined statement and the financial statement of the parent company to investors, creditors and managers. On the basis of brief introduction of the theory of consolidated financial statements and parent company financial statements, this paper studies the usefulness of consolidated financial statements and parent company financial statements at home and abroad, under the background of the existing double disclosure system in China. Through empirical analysis, this paper discusses the usefulness of consolidated financial statements and parent financial statements to investors, creditors and managers. The specific conclusions are as follows: (1) the consolidated financial statements are better than the parent financial statements as a whole in terms of the explanatory power of stock prices, so when making investment decisions, Investors should pay more attention to the financial information provided by the consolidated financial statements. (2) in terms of solvency, there are significant differences between the financial indicators provided by the consolidated financial statements and the financial statements of the parent company. And consolidated financial statements reflect poor solvency. Therefore, when the creditors of the parent and subsidiary companies make credit decisions, they should focus on the parent and sub-individual financial statements, supplemented by the consolidated financial statements. (3) in terms of profitability, There are significant differences between the combined financial statements and the earnings information provided by the financial statements of the parent company. The combined financial statements are more useful when managers make collective management decisions and compare the performance among groups.
【學位授予單位】：石家莊經(jīng)濟學院
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F231.5;F275

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