| 摘要: |
| 基于FAS 157的公允价值层级理论，采用Ohlson价格模型，以公允价值的三个层级为切入点，通过对A股金融行业的实证分析，研究公允价值层级信息被我国资本市场的认可程度。分析结果表明，公允价值层级信息的披露有助于公司提升股价，第一层级公允价值资产比第二层级公允价值资产更具增量价值；而第三层级公允价值资产以及公允价值负债的三个层级均未呈现显著的价值相关性。相关部门应尽快制定公允价值层级披露的统一标准，并鼓励上市公司通过评估事务所、会计师事务所等中介机构对其公允价值资产和负债进行计量。 |
| 关键词: FAS 157 公允价值层级理论 层级信息 信息披露 公允价值资产 公允价值负债 价值相关性 决策有用性 |
| DOI： |
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| A Study on Decision Availability of Fair Value Information under Different Hierarchies—Experiential Analysis of Financial Industry Based on the A share Listed Financial Companies |
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SHAO Li，WU Jun-ying
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| Abstract: |
| Based on fair value hierarchy theory FAS 157, this paper adopts Ohlson price model and studies whether information disclosure of fair vlaue hierarchy is accepted by China capital market by taking three hierarchies of fair value as studying object and through empirical analysis of A share financial industry. The analysis results show that the information disclosure of fair value hierarchy is conducive to stock price rise of the listed companies, that the fair value assets of the first hierarchy have more incremental value than that of the second hierarchy, however, the fair value assets of the third hierarchy and three hierarchies of fair value do not demonstrate significant value relevance. The related departments should make universal standard for fair value hierarchy disclosure and encourage listed companies to calculate their fair value assets and debt by the agnecies such as appaising companies, accounting companies and so on. |
| Key words: FAS 157 fair value hierarchy theory hierarchy information information disclosure fair value asset fair value debt value relevance decision availability |
