CAJ | 학술논문

文本以2004-2012年沪深A股主板非金融类上市公司为研究对象,探讨我国上市公司实施新会计准则后会计信息质量的变化及其对权益资本成本的影响。经研究发现：新准则大幅度引入公允价值计量属性和资产负债观,为会计职业判断和自由选择提供了更大的空间,从而导致实质的信息质量降低;新准则实施后上市公司的权益资本成本随之上升,而且信息质量的降低直接导致了权益资本成本的上升,这证明了我国资本市场在一定程度上是有效的。文本以会计准则变迁—实质的信息质量—权益资本成本为研究主线,为会计准则相关研究提供了一个新视角。
문본이2004-2012년호심A고주판비금융류상시공사위연구대상,탐토아국상시공사실시신회계준칙후회계신식질량적변화급기대권익자본성본적영향。경연구발현：신준칙대폭도인입공윤개치계량속성화자산부채관,위회계직업판단화자유선택제공료경대적공간,종이도치실질적신식질량강저;신준칙실시후상시공사적권익자본성본수지상승,이차신식질량적강저직접도치료권익자본성본적상승,저증명료아국자본시장재일정정도상시유효적。문본이회계준칙변천—실질적신식질량—권익자본성본위연구주선,위회계준칙상관연구제공료일개신시각。
The essay, based on research in non-finance listed firms holding shares in shanghai and Shenzhen Stock Exchanges from 2004 to 2012, probes into the change accountants＇ information quality after our listed firms adopt new accountants＇ norm and its effect on the cost of equity capital. The findings indicate that the new norm introduces sound-value calculated attribute and view of asset liability offers greater room for accountants＇ professional judgment and free option so that the quality of substantial informa- tion quality might be lowered; introduce new norm raises the cost of equity capital in listed firms and lowered information quality con- tributes to higher equity-capital cost, showing that our capital market takes effect, more or less. The paper offers a new perspective for research related to accountants＇norm with changed accountants＇norm,substantial information quality and equity capital cost as a main clue.