Study On The Preference Of Fair Value In Chinese Listed Companies

Chinese Ministry of Finance formally promulgated the Accounting Standard for Business Enterprises (ASBE) in 2006, and the year 2007 witnessed the implementation of ASBE by all Chinese listed companies. The action indicated that China realized the convergence of accounting standards with international commitments and the reuse of the fair value in ASBE has been reguarded as the highlight. Meanwhile, the breakout of the U.S. crisis intensified and spreaded throughout the world, provoking the hot debate on "is the fair value innocent or not?". All this is undoubtedly a heavy blow to chinese accounting field that has just re-introduction of the fair value, and makes the Chinese accounting academics to focus and reflect on the issues arising from fair value.In this context, the paper adopts the fair value as the study object,chooses the nomative research method, combines preference theory of economics with fair value accounting theory, and comes a conclusion"Preference for fair value measurement attribute".The paper picks the latest data in annual accounting report of 2009 as sample, firstly uses the method of quantitative assignment, researches the actual situation and influencing factors of chinese listed companies preference for fair value measurement attribute and offers suggestions to the issues such as disclosure of non-standard and poor operability.The article is divided into five chapters as follows:Chapterl introduces the research background and significance of the article,the literature summary of fair value,the research method and the conclusions.Chapter2 reviews the background of the fair value and evolution of the concept of the fair value, analyzes the conception of the fair value, researches the relationship between fair value and other measurement.Chapter3 elaborates the undetstanding to the preference theory of economics, definition, levels,features and economic consequences of preference for fair value measurement attribute.Chapter4 researches the application of fair value in our country, conducts descriptive statistics, analyzes and compares the factors that affect preference for fair value measurement attributes,and makes a conclusion:the more active the industry is,the higher the level of regional economic develops, the higher preference for fair value measurement attribute will be taken. And vice versa.Chapter5 introduces the conclusions of the study, innovation and the issues among the statistical process, and proposes suggstions to solve the issues mentioned above.The application process of Fair Value is very difficult In the future, how to develop and perfect the theory of Fair Value, make Fair value accounting in the successful implementation of our country, achieve the realization of China Accounting Standards and the overall convergence of international accounting standards. There is long way for accounting standards desingers and accounting scholars that I can only hope that this study could be the successful implementation of fair value for a small attempt.