其他綜合收益列報與披露價值相關(guān)性的實證研究
發(fā)布時間：2018-09-01 20:23
【摘要】：2009年6月11日,財政部在其發(fā)布的《企業(yè)會計準(zhǔn)則解釋第3號》中,首次引入了其他綜合收益的概念,要求上市公司應(yīng)當(dāng)在其利潤表“每股收益”項下增列“其他綜合收益”項目和“綜合收益總額”項目。2009年12月24日,財政部又發(fā)布了《關(guān)于執(zhí)行會計準(zhǔn)則的上市公司和非上市企業(yè)做好2009年年報工作的通知》,配合解釋第3號利潤表格式的調(diào)整,對所有者權(quán)益變動表的格式也相應(yīng)進行了調(diào)整,同時對“其他綜合收益”在附注中的披露做出了具體規(guī)定。從2009年起,中國上市公司開始在其利潤表中列報與披露“其他綜合收益”項目。它標(biāo)志著全面收益觀正式運用于我國企業(yè)會計準(zhǔn)則的實踐中。在上述研究背景下,本文對其他綜合收益的相關(guān)問題進行了研究。 首先,本文從會計盈余價值相關(guān)性和綜合收益價值相關(guān)性兩方面,對國內(nèi)外研究文獻進行了回顧與梳理。從對國內(nèi)外對會計盈余相關(guān)性及綜合收益價值相關(guān)性的研究文獻梳理結(jié)果來看,盡管國外研究的時間較早,相應(yīng)研究成果較豐富,但在綜合收益的價值相關(guān)性問題上并沒有達成一致觀點。而在我國,由于其他綜合收益項目剛剛列報于利潤表中,其他綜合收益列報與披露相關(guān)問題的研究并未引起學(xué)者們足夠的重視,相關(guān)研究成果較少。本文擬結(jié)合國外內(nèi)研究的現(xiàn)狀,對其他綜合收益列報與披露存在的問題,以及其他綜合收益列報與披露價值相關(guān)性展開深入研究,以益于完善我國會計準(zhǔn)則體系,提高會計信息對投資者決策的有用性。 其次,結(jié)合中國會計實務(wù),本文深入探討了其他綜合收益項目的內(nèi)涵及組成內(nèi)容。從根本上講,其他綜合收益與我國《企業(yè)會計準(zhǔn)則——基本準(zhǔn)則》中“直接計入所有者權(quán)益的利得和損失”的概念是相通的,兩者內(nèi)涵是一致的。正因如此,其他綜合收益的范圍并不完全等同于“資本公積”。其他綜合收益是引起“資本公積——其他資本公積”變動的交易或事項,因為這些交易或事項是企業(yè)與非企業(yè)所有者之間發(fā)生的。此外,其他綜合收益與權(quán)益性交易也有著本質(zhì)的區(qū)別。 再次,在實務(wù)方面,本文采用逐戶數(shù)據(jù)分析整理匯總的方式,對上市公司2009年-2011年年報“其他綜合收益”項目在“合并利潤表”和“合并所有者權(quán)益變動表”中列報的總體情況進行了匯總分析。并在此基礎(chǔ)上,深入分析了三年來上市公司在其他綜合收益列報與披露過程中普遍存在的問題及原因。 最后,本文以2007年一2011年滬深兩市A股公司為研究樣本,利用價格模型,以相對關(guān)聯(lián)研究和增量關(guān)聯(lián)研究的方法檢驗了綜合收益相對于凈利潤對股票價格的解釋能力。實證結(jié)果顯示綜合收益的價值相關(guān)性顯著地低于凈利潤,其中包含的其他綜合收益基本不具備價值相關(guān)性。
[Abstract]:On June 11, 2009, the Ministry of Finance introduced for the first time the concept of other composite returns in its Accounting Standards for Enterprises interpretation No. 3. Requiring listed companies to add "other consolidated income" items and "aggregate earnings" items to their income statements under "earnings per share". On December 24, 2009, The Ministry of Finance has also issued the notice on listed companies and unlisted enterprises implementing accounting standards to do a good job in the annual report of 2009, in conjunction with the adjustment of the format of the income statement No. 3, the format of the statement of changes in owners' equity has also been adjusted accordingly. At the same time, the disclosure of "other comprehensive income" in the note made specific provisions. Since 2009, listed companies in China began to report and disclose "other comprehensive income" items in their profit statements. It marks that the concept of total income is formally applied to the practice of accounting standards for enterprises in China. Under the above research background, this paper has carried on the research to the other comprehensive income correlation question. First of all, this paper reviews and combs the domestic and foreign research literature from two aspects: the correlation of accounting earnings value and the value of comprehensive income. From the review of domestic and foreign literatures on the correlation of accounting earnings and the value of comprehensive income, it can be seen that although the time of foreign research is earlier, the corresponding research results are relatively rich. However, there is no consensus on the value relevance of comprehensive returns. However, in China, because other comprehensive income items have just been reported in the income statement, the research on other issues related to the reporting and disclosure of comprehensive income has not attracted enough attention of scholars, and the related research results are relatively few. This paper intends to carry out in-depth research on the problems existing in other comprehensive income reporting and disclosure, as well as the correlation between other comprehensive income reporting and disclosure value, in order to improve the accounting standards system of our country. Improve the usefulness of accounting information to investors' decisions. Secondly, combined with Chinese accounting practice, this paper deeply discusses the connotation and composition of other comprehensive income items. Fundamentally speaking, the other comprehensive income is related to the concept of "gain and loss directly included in the owner's equity" in our country's Accounting Standard for Enterprises-basic Standard, and their connotations are consistent. For this reason, the range of other combined returns is not exactly equivalent to "capital reserves". Other combined returns are transactions or events that cause changes in "capital reserves-other capital reserves", because these transactions or events occur between an enterprise and a non-business owner. In addition, other comprehensive returns and equity transactions also have essential differences. Thirdly, in practice, this paper adopts the method of house-to-door data analysis and summary. This paper makes a summary and analysis of the general situation of the items of "other comprehensive income" reported in the 2009-2011 annual report of listed companies in the "consolidated income statement" and "consolidated owner's equity change statement". On this basis, the paper analyzes the common problems and reasons of the listed companies in the process of other comprehensive income reporting and disclosure in the past three years. Finally, this paper takes the A-share companies of Shanghai and Shenzhen stock markets from 2007 to 2011 as the research samples, using the price model, using the methods of relative relevance study and incremental correlation study, to test the ability of comprehensive return relative to Yu Jing's profit to explain the stock price. The empirical results show that the value correlation of comprehensive income is significantly lower than that of net profit.
【學(xué)位授予單位】：復(fù)旦大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F224;F233;F275
本文編號：2218251
[Abstract]:On June 11, 2009, the Ministry of Finance introduced for the first time the concept of other composite returns in its Accounting Standards for Enterprises interpretation No. 3. Requiring listed companies to add "other consolidated income" items and "aggregate earnings" items to their income statements under "earnings per share". On December 24, 2009, The Ministry of Finance has also issued the notice on listed companies and unlisted enterprises implementing accounting standards to do a good job in the annual report of 2009, in conjunction with the adjustment of the format of the income statement No. 3, the format of the statement of changes in owners' equity has also been adjusted accordingly. At the same time, the disclosure of "other comprehensive income" in the note made specific provisions. Since 2009, listed companies in China began to report and disclose "other comprehensive income" items in their profit statements. It marks that the concept of total income is formally applied to the practice of accounting standards for enterprises in China. Under the above research background, this paper has carried on the research to the other comprehensive income correlation question. First of all, this paper reviews and combs the domestic and foreign research literature from two aspects: the correlation of accounting earnings value and the value of comprehensive income. From the review of domestic and foreign literatures on the correlation of accounting earnings and the value of comprehensive income, it can be seen that although the time of foreign research is earlier, the corresponding research results are relatively rich. However, there is no consensus on the value relevance of comprehensive returns. However, in China, because other comprehensive income items have just been reported in the income statement, the research on other issues related to the reporting and disclosure of comprehensive income has not attracted enough attention of scholars, and the related research results are relatively few. This paper intends to carry out in-depth research on the problems existing in other comprehensive income reporting and disclosure, as well as the correlation between other comprehensive income reporting and disclosure value, in order to improve the accounting standards system of our country. Improve the usefulness of accounting information to investors' decisions. Secondly, combined with Chinese accounting practice, this paper deeply discusses the connotation and composition of other comprehensive income items. Fundamentally speaking, the other comprehensive income is related to the concept of "gain and loss directly included in the owner's equity" in our country's Accounting Standard for Enterprises-basic Standard, and their connotations are consistent. For this reason, the range of other combined returns is not exactly equivalent to "capital reserves". Other combined returns are transactions or events that cause changes in "capital reserves-other capital reserves", because these transactions or events occur between an enterprise and a non-business owner. In addition, other comprehensive returns and equity transactions also have essential differences. Thirdly, in practice, this paper adopts the method of house-to-door data analysis and summary. This paper makes a summary and analysis of the general situation of the items of "other comprehensive income" reported in the 2009-2011 annual report of listed companies in the "consolidated income statement" and "consolidated owner's equity change statement". On this basis, the paper analyzes the common problems and reasons of the listed companies in the process of other comprehensive income reporting and disclosure in the past three years. Finally, this paper takes the A-share companies of Shanghai and Shenzhen stock markets from 2007 to 2011 as the research samples, using the price model, using the methods of relative relevance study and incremental correlation study, to test the ability of comprehensive return relative to Yu Jing's profit to explain the stock price. The empirical results show that the value correlation of comprehensive income is significantly lower than that of net profit.
【學(xué)位授予單位】：復(fù)旦大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F224;F233;F275
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，本文編號：2218251
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