新企业会计准则下盈余结构的价值相关性——来自沪市A股的经验证据被引量：26

The Value Relevance of Earning Structure under the New Enterprise Accounting Standards——Evidence from Shanghai A-share Stock Market

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摘要基于2007年沪市A股中报数据,从相对和增量价值相关性两个角度研究了盈余结构以及具体盈余项目与股票回报之间的关系。研究发现,全面收益的价值相关性水平不如净利润,投资者对利润表的关注程度远高于所有者权益变动表;同时,对总括盈余进行分解能显著增加盈余对股票回报的解释力,除全面收益中部分项目外,各分解项目对股票回报均有显著的增量价值相关性,这表明披露结构性盈余项目有利于投资者判断公司价值。 Based on the interim financial report data from Shanghai A-share stock market in 2007, this paper investigates earning structure and the relationships between specific earning items and stock returns from relative and incremental value relevance perspectives. It finds that the value relevance of comprehensive income is weaker than that of net income, for investors pay more attention to the income statement than the fourth statement. Meanwhile, disaggregating earning into several items can significantly increase explanation power. Except some items of comprehensive income, other components of earning provide incremental information to returns, which indicates that disclosure of the structural earning items is helpful for investors to judge the corporate value.

作者程小可龚秀丽

机构地区北京化工大学经济管理学院

出处《上海立信会计学院学报》 2008年第4期36-46,共11页 Journal of Shanghai Lixin University of Commerce

关键词盈余结构全面收益总括盈余结构性盈余价值相关性 earning structure comprehensive income earnings structural earning value relevance

分类号 F830.91 [经济管理—金融学]

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参考文献16

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