公允价值分层计量与分析师盈余预测关系研究  

Study on the Correlation between Fair Value Hierarchy Stratified Measurement Information and Analysts' Earnings Forecast

作　　者：李端生[1] 柳雅君[1] 邓洁 

机构地区：[1]山西财经大学会计学院,山西太原030006 [2]武警后勤学院,天津300309

出　　处：《经济问题》2017年第11期101-107,共7页On Economic Problems

基　　金：山西省研究生教育创新项目(2017BY094)

摘　　要：公允价值分层计量的目的之一是让信息使用者获取更多的决策信息,财务分析师盈余预测是为了帮助信息使用者进行有效决策,那么,公允价值分层计量信息是否影响财务分析师的盈余预测过程和结果成为亟待解决的问题。以2014-2015年采用公允价值分层计量方式的A股上市公司为样本,实证检验了公允价值分层计量信息对财务分析师盈余预测的影响。研究结果表明:(1)公允价值分层计量信息第一层次披露越充分,分析师盈余预测的准确程度越高,并能有效抑制分析师盈余预测的乐观倾向;(2)有效的内部公司治理能够增强公允价值第一层次计量信息与分析师盈余预测的相关性,而作为外部公司治理重要因素之一的市场化程度越高,二者之间的相关性则越低。The purpose of the fair value hierarchy stratified measurement is to allow the information users to obtain more decision information.The financial analyst＇s earnings forecast is to help the information users make an effective decision.Then,whether the fair value hierarchy stratified measurement information affects the financial analyst＇s earnings forecast＇s process and results becomes an urgent problem to be solved.Based on the data of Listed Companies in China in 2014-2015,this paper examines the impact of fair value hierarchy stratified measurement on the analyst＇s earnings forecast.Fristly,the more the disclosure of the first level of fair value stratified measurement information,the higher the accuracy of analysts＇ earnings forecasts,and it can effectively curb the optimistic tendency of analysts＇ earnings forecasts;secondly,effective internal corporate governance can promote the correlation between disclosure information of fair value and earnings forecast,and the higher the degree of marketization as one of the important factors of external corporate governance,the lower the correlation between them.

关 键 词：公允价值分层计量 信息披露 分析师盈余预测 公司治理 

分 类 号：F832.5[经济管理—金融学]