金融危机下公允价值困境及对策  

A Study of Fair Value Dilemma and Countermeasures during Financial Crisis

作　　者：韩俊华[1] 

机构地区：[1]安徽财经大学商学院,安徽蚌埠233041

出　　处：《财经论丛》2012年第3期92-97,共6页Collected Essays on Finance and Economics

基　　金：教育部人文社会科学基金资助项目(09YJCZH001)

摘　　要：公允价值计量不是经济危机产生的直接原因,但公允价值计量存在缺陷。本文运用公司行为金融理论,分析公允价值计量对企业投资行为异化的影响机理,用Ohlson估价模型分析公允价值计量降低会计信息相关性的临界条件;用公允价值目标资产贴现模型和可转债估价Black-Shoes模型,分析公允价值计量不可靠;并用银行的风险管理工具和金融监管指标分析公允价值计量传递金融顺周期性。最后,给出了完善公允价值计量的动态减值准备模型,该模型具有逆周期机制,能实现金融稳定,克服公允价值顺周期缺陷。Fair value measurement is not the direct cause of the economic crisis, but its flaw lies. The paper analyzes the impact of corporate investment behavior of the mechanism of alienation on the fair value measurement by the company behavioral finance theory. The paper also analyzes fair value accounting information relevant to reducing the critical conditions by the Ohlson valuation model . In addition, the paper points out that the fair value measurement is not reliable by the goal assets discounted models of the fair value and discounted Black - Shoes model. Furthermore, by the hank＇ s risk management tools and indicators the paper analyzes financial regulation to pass fair value measurement of financial pro - cycle. Finally, the paper proposes the fair value measurement of a complete impairment of the dynamic model that has a reverse cycle system, to achieve financial stability.

关 键 词：公允价值 金融危机 顺周期效应 投资行为 价值相关性 

分 类 号：F230[经济管理—会计学]