An Empricial Study On The Impactof The New Accounting Standards On Accounting Information Relevance

In order to improve the quality of accounting information, February 15,2006, the Ministry of Finance issued a new set of corporate accounting standards system that including a basic norms and 38 specific guidelines.The establishment of new accounting standards system comply with the need of China's rapid economic marketization and internationalization, it improve the quality of accounting information and provide decision-useful accounting information to the investors and the public. It built accounting standards system to adapt to market economy, convergence with international standards, covering all their economic operations firstly. It can be implemented independently and to improve the international financial reporting standards provide a useful reference, realized the construction of a new China Accounting Standards for Enterprises by leaps and bounds, and a historic breakthrough. Therefore, the accounting reform in China different from the past, it is a milestone in China's accounting reform.After the promulgation of new accounting standards, we are concerned about the problem is that the new guidelines for the completion of its stated goals has paid off, the quality of accounting information produced in China, what kind of impact. Therefor the study of the new guidelines the results are of great practical significance. Ihe implementation of accounting standards for business conduct empirical research results, not only can have a specific accounting standards to make an objective assessment of the role played perfect, but also through the implementation of the guidelines for new research results may also be reflected in the guidelines for the process of implementation problems in order to better meet the criteria of the expected results. The issue is to the implementation of accounting standards issued effectiveness studies, data on the effects of the reform of China's accounting standards to evaluate, from the empirical point of view of some of our academic community to develop the theory of evaluation and reflection. This issue mainly from the study of new business accounting standards, the reliability of accounting information quality, relevance and robustness to proceed to examine the impact of new business accounting standards on accounting information quality.The paper uses price model, the value of accounting information in China correlation tested, empirical results show that the value of China's accounting information related to the overall sex ratio has increased before the implementation of the guidelines, it confirmed the theoretical analysis. However, as China's view of the accounting concept of cost by income assets and liabilities to the concept of change, China's net asset value of correlation should be improved, but the empirical results of view, the new guidelines after the implementation of the value of China's accounting earnings relevance has increased, but the The value relevance of net assets has not changed much, mainly due to the application of fair value because of so many companies big increase in profits, while the net assets of our investors are not very familiar with the preference to accounting earnings as a basis for decisions, The importance of net assets has not been the decision-making attention of investors, so that the value relevance of net assets has not been improved. Therefore, we should continuously improve the level of investor knowledge, foster rational investors, so that the net assets of the role of investors to gain a deeper understanding and better understanding of the new criteria, thereby enhancing the net asset value of relevance.