CAJ | 학술논문

本文以我国转型经济环境下公司资产置换及其所适用计量属性规范的多次修订为研究对象,检验证明与2000年-2005年中报期相比较,2006年-2007年中报期的公司资产置换财务绩效具有显著差异性,利用关联方资产置换改善公司盈利水平的动机得到一定缓解.同时,2001年限制公允价值计量属性运用的<非货币性交易>修订版准则实施显著提升了资产置换绩效持续性.2007年重新引入公允价值计量属性的<非货币性资产交换>准则实施则显著提高了公司资产置换价值相关性.研究结果表明,资产置换行为变化及其计量属性运用时机、效果与制度环境变迁和利益集团博弈动机变化密切相关.
본문이아국전형경제배경하공사자산치환급기소괄용계량속성규범적다차수정위연구대상,검험증명여2000년-2005년중보기상비교,2006년-2007년중보기적공사자산치환재무적효구유현저차이성,이용관련방자산치환개선공사영이수평적동궤득도일정완해.동시,2001년한제공윤개치계량속성운용적<비화폐성교역>수정판준칙실시현저제승료자산치환적효지속성.2007년중신인입공윤개치계량속성적<비화폐성자산교환>준칙실시칙현저제고료공사자산치환개치상관성.연구결과표명,자산치환행위변화급기계량속성운용시궤、효과여제도배경변천화이익집단박혁동궤변화밀절상관.
Based on several revisions of Corporate Asset Exchange and applicable measurement attribute criterion in China's transitional economy, this paper proves that the changes of financial performance for corporate Asset Exchange (AE) in 2006--2007 Interim Financial Reporting (EFR) have substantial difference, compared with the EFR in 2000--2005. The motivation to manipulate profit using related-party AE has been eased, its profitability and asset management after AE has been improved. The adoption of the revised accounting standard 2001 restricted the short-term profit manipulation and increased performance snstainability. The implementation of the new accounting standard in 2007 improved the value relevance of AE. The result reveals that the changes of AE behavior,the adopting time and implementation effect of AE fair value measurement attribute are highly relevant with the institutional background and stakeholders' motivation.