金融业Ohlson价值相关性修正模型的建构与分析——基于2011—2015年上市银行面板数据的经验证据  

Ohlson Value Correction Model Construction and Analysis of Financial Sector:Based on 2011—2015 Panel Data Empirical Evidence

作　　者：郑智勇[1] Zheng Zhiyong(School of Economics,Fujian Normal University,Fuzhou,350108,China)

机构地区：[1]福建师范大学经济学院,福建福州350108

出　　处：《石家庄铁道大学学报（社会科学版）》2018年第1期9-16,共8页Journal of Shijiazhuang Tiedao University（Social Science Edition）

摘　　要：Ohlson价格模型揭示了公司的市场价值与会计盈余和净资产的关系,评价范围从损益表拓展到资产负债表,综合体现了资产负债观和损益观。然而采用Ohlson模型来分析具体行业的价值相关性并不是最优的选择,还需要对原模型进行相应的修正。本文收集了2011—2015年38家上市银行的面板数据,通过差分模型、回报模型和联合模型的实证检验,分析了如何改进金融业Ohlson价值相关性模型,以提高会计信息有用性,达到更加合理估计金融行业市场价值的目的。Ohlson pricing model reveals the connections between company’s market value and accounting surplus and net assets.The range of evaluation is expanded from income sheet to balance sheet,which embodies the viewpoints on asset-liability,and profit and loss view comprehensively.However,using Ohlson model to analyze the value of a specific industry correlation is not an optimal choice,the corresponding correction is needed.This paper collectes 38 listed banks panel data from 2011 to 2015,through empirical tests by differential model,return model and joint model.I analyzes how to correct the Ohlson model in the financial industry to improve the usefulness of accounting information and reach a more reasonable financial industry market value estimation.

关 键 词：OHLSON模型 金融业 价值相关性 模型修正 

分 类 号：F832.6[经济管理—金融学]