CAJ | 학술논문

会计信息质量的提高与证券资本市场的资源配置效率息息相关，而会计准则的变迁将会对一国的经济利益及国际投融资环境产生巨大影响。目前我国对会计准则不断修订，力图通过实现国际趋同提高会计信息质量，市场资源配置效率同时也得到提高。基于新准则实施前2006年及2011年证券市场的资源配置效率及会计信息的对比实证分析发现：新会计准则实施后我国上市公司进行股权再融资所募集资金量及融资成本与会计信息的相关性明显增强，在新会计准则下我国资本市场资源配置效率更高。持续优化和完善会计准则进而提供高质量的会计信息，将成为政府和有关部门提高证券市场资源配置效率的有效途径。
회계신식질량적제고여증권자본시장적자원배치효솔식식상관，이회계준칙적변천장회대일국적경제이익급국제투융자배경산생거대영향。목전아국대회계준칙불단수정，력도통과실현국제추동제고회계신식질량，시장자원배치효솔동시야득도제고。기우신준칙실시전2006년급2011년증권시장적자원배치효솔급회계신식적대비실증분석발현：신회계준칙실시후아국상시공사진행고권재융자소모집자금량급융자성본여회계신식적상관성명현증강，재신회계준칙하아국자본시장자원배치효솔경고。지속우화화완선회계준칙진이제공고질량적회계신식，장성위정부화유관부문제고증권시장자원배치효솔적유효도경。
The improvement of accounting information quality is closely related to the resource allocation ef- ficiency of securities and capital market, while the changes of accounting standards will exert enormous in- fluences on one country＇ economic interests and international investment and financing environment. The sustained international convergence of China Accounting Standards （CAS） strives to improve the resource allocation efficiency of capital market through enhancing accounting information quality. The comparative empirical analysis based on the resource allocation efficiency of securities market between 2006 （the year before the implementation of CAS） and 2011 show that： Through share allotment and additional share is- suing, the amounts of funds per share raised by listed companies and the equity refinancing cost had more significant correlation with accounting surplus information in 2011. The resource allocation of our country capital market is more efficient under new accounting standards. Government and relevant departments should further optimize the accounting standards for enterprises, improve the quality of accounting infor- mation and the resource allocation efficiency of capital market.