ings,butothersleadingtonousefulneofaccountingearnings.soitisveryinterestingtoexaminethedecisionusefulne,orvaluerelevanceofaccountingearningsdatathroughstockpricebehavior.
thethemeofthisdiertationisstudyingthemarketpricereactionofaccountingearnings(anditsdisclosure)toawerthequestionthatwhetheraccountingearningisdecisionusefulinchina’ssecuritymarket.asby-productofthisquestion,wecanfindtheroleofbookvalue,preliminarydividendpolicyandauditopinioninstockpricebehavior,andthebehaviorabilitiesofinvestorsincapitalmarketandinfluencesofsomeuniqueititutionalfactorsonthefunctionofaccountingearnings.
allisdividedinto8chapters.
chapter1isanintroductionofsomeimportantititutionalbackgroundofmystudy.theaccountingreformbegiingatthemiddleof1980’siscalledthe3rdrevolutioninthechineseaccountinghistory.inthisrevolution,marketeconomy,open-doorpolicyandsecuritymarketleadmoreandmoreimportantroleofaccountingearnings.ontheotherhand,someproblems,forexample,themultipleobjectsofaccounting,thedifferencebetweenchinesegaapandinternationalpractice,themanipulationofaccountingdata,theweakindependenceofcpas,naiveofinvestors,etc.,causepeopletodoubttheusefulneofaccountingearningsinstockmarket.
chapter2discuesseveraltheoreticalmodelsofvaluationfunctionofaccountingearnings.firstlytheroleofaccountingearningswasanalyzedwithintheparadigmofinformationperective,valuationperectiveandcontractperective,reectively.thenasummaryofvariousvaluationmodelswasdeveloped,includingdividenddiscountmodel,capitalaetspricin
上一页 [1] [2] [3] [4] [5] [6] [7] [8] 下一页