The Influence Of New Accounting Standards' Implementation On Listed Companies' Earnings Quality

Study of earnings quality is an academic subject of great practical significance , the study of many scholars focused on how to evaluate and analyze earnings quality, the researches that accounting standards are on the impact of earnings quality are very few, especially at home.In February 2006, New accounting standards promulgated,its reform,coverage and influence are more than any previous accounting system changes, bound to have an impact on earnings quality. Therefore, the study of the impact that new accounting standards have on earnings quality, not only providing the investor a reference of investment decision-making,can also putting forward the feasibility of proposals about improving the earnings quality of listed companies.In this paper, the oretical aspects. First, by comparing the three kinds of benefits come to the concept of earnings quality based on the concept of comprehensive income and useful decision-making,and derive the measure of earnings quality in four areas:cash guaranteed, authenticity, sustainability, growth. Second, analyzing Chinese new accounting standards'four major changes, and their impact on earnings quality in detail, Conclusion that the new accounting standards can contribute to improve the earnings quality. In the empirical context, innovatively validate the changes of earnings quality before and after implementation of the new accounting standards:taking the 2005-2008 data in the information technology industry as a sample, using event study to verify the market reaction which the promulgation of the new guidelines have on; and further using principal component analysis to build a comprehensive rating model of earnings quality for calculating the change of the earnings quality comprehensive score before and after implementation of the new accounting, verifing the new accounting standards to promote the improvement of earnings quality.Finally, According to the changes of the earnings quality composite score and the various principal component scores in empirical results, this article proposed to promote the improvement of the earnings quality by improving the fair value measurement, promoting the effective implementation of the new accounting standards, improving profitability of the enterprises.