公允价值会计和金融稳定研究——金融危机分析视角  

Research of Fair Value Accounting and Financial Stability——from the Perspective of Financial Crisis

作　　者：王守海[1,2] 孙文刚[1] 李云[1] 

机构地区：[1]山东经济学院会计学院,250014 [2]财政部财政科学研究所,100142

出　　处：《会计研究》2009年第10期24-31,共8页Accounting Research

摘　　要：本文基于金融危机的背景下,对公允价值与金融稳定之间关系进行研究。公允价值会计在金融加速器和资产市场混响效应的基础上引入会计加速器,使风险承担更具顺周期效应,这对金融系统的稳定产生了不利影响。本文在坚持公允价值会计的原则下,从金融市场稳定的角度,建立了一个理想信息框架。通过该框架,市场参与者,不仅能从微观层面上获得企业有关财务状况的估计、风险轮廓的估计和计量的不确定性等信息,而且还能从宏观层面上获得风险的相关性、风险传染的可能性及其系统风险等方面的信息。In this paper,we discuss the relationship between fair value accounting and financial stability from the perspective of financial crisis.In a sense,fair value accounting introduces an accounting accelerator on top of the typical financial accelerator and reverberation effects among the markets:risk taking will likely become more pro-cyclical than previously,and this results in the instability of financial system.We insist on fair value accounting,and set up an ideal information framework from perspective of financial stability.Through this framework,the participants of market will know some information,not only including estimates of the current financial condition,estimates of risk profiles,and the uncertainty of measures from the micro-perspective,but also including the relativity of risk,the probability of risk contagion,and the systematic risk from the macro-perspective.

关 键 词：公允价值 金融危机 金融稳定 金融加速器 会计加速器 混响效应 

分 类 号：F233[经济管理—会计学]