源于公允价值的盈余波动增加会计信息含量了吗?  

Does the Earnings Volatility Based on the Fair Value Increase the Accounting Information Content?

作　　者：吕兆德[1] 宿增睿 

机构地区：[1]北京师范大学经济与工商管理学院,北京100875 [2]清华大学经管学院,北京100084

出　　处：《南京审计大学学报》2016年第3期65-74,共10页Journal of Nanjing Audit University

基　　金：国家社会科学基金项目(13CGL036);教育部人文社会科学基金项目(11YJC790132)

摘　　要：盈余波动是企业最重要的盈余时间序列特征之一,公允价值的使用会显著改变企业盈余波动水平。这种盈余波动变化对投资者具有正反两个方面的影响:一方面揭示了企业风险,提供了增量信息;另一方面增加了信息风险,提高了信息不对称程度。使用新会计准则实施前后共12年的数据研究源于公允价值的盈余波动对投资者净信息含量的影响,结果显示:公允价值确实能够导致企业盈余波动程度增加,但增加的盈余波动并没有给投资者提供增量会计信息。需要注意的是,此结论只是针对公允价值所引致的盈余波动信息,并不能推广到公允价值会计整体的信息含量。The earnings volatility is one of the most important earnings time series characteristics. The use of fair value in accounting changes the earnings volatility significantly. The change has two opposite effects on investors,one is to disclose the operation risk in firm and provide incremental information,the other is to increase the information risk and improve the degree of information asymmetry. On the basis of the 12 years of data before and after the implementation of the new accounting standards,this paper makes a research on the impact of the fair value of earnings volatility on the investors＇ net information content.The study shows that the use of fair value does result in the increase of earnings volatility,but there is no evidence of incremental accounting information resulting from the increase of earnings volatility based on fair value. It should be noted that the conclusion is only fit for the earning volatility information from the use of fair value,not generalized to the information content of fair value accounting.

关 键 词：盈余波动 公允价值计量 会计信息含量 信息风险 企业盈余 会计计量 企业价值 

分 类 号：F275[经济管理—企业管理]