IPO公司预测盈利的价值相关性  

The Value-relevance of IPO Earnings Forecasts

作　　者：于鹏[1] 

机构地区：[1]中南财经政法大学会计学院,430060

出　　处：《会计研究》2007年第6期76-82,共7页Accounting Research

基　　金：国家自然科学基金项目"会计规范全球协调与趋同中的根本性问题研究"(项目批准号:70672115)的阶段性研究成果

摘　　要：会计信息是有效资本市场资源配置的重要依据。目前,价值相关性的研究主要关注会计盈余,而很少关注预测盈利。本文采用价格模型验证了我国IPO公司预测盈利的价值相关性,研究结论表明,我国IPO公司的预测盈利具有价值相关性,并且价值相关性因预测盈利的准确性、预测盈利的披露方式、IPO公司的规模以及股权流动性程度而不同。Accounting information plays a vital role of allocating resources in an efficient capital market.Extant researches focus on the value-relevance of accounting earnings,few concerns that of earnings forecasts.This paper examines the value-relevance of IPO earnings forecasts in China using the price model.The results provide evidence that IPO earnings forecasts are value-relevant in the Chinese market.Furthermore,the value-relevance changes with the accuracy of earnings forecasts,the sort of earnings forecasts disclosure,the firm size,and the liquidity of stock.

关 键 词：IPO 会计盈余 预测盈利 价值相关性 

分 类 号：F832.51[经济管理—金融学]