The Empirical Study On The Influences Of Accounting Information Relevance By New Accounting Standard

In Februay 15th, 2006, Ministry of Finance officially released a new serises of enterprise financial standard system, the Enterprise Financial Standards(called the New Standards for short thereinafter),which is including a core standard and other thirty-eight detail items. Meanwhile, it anounced that the New Standards would be put in practice at the rage of all the share-listed enterprises from the time of January 1st, 2007. The New Standards does not only accomandate with the socialism market economy of our country, but also, through these standards, we realize the consistent with the international financial report standards. It involves all kinds of economic activities of enterprise and symbolises the establishment of the independant financial standard system of our country. The release of the New Standards got extensive attention from all areas of the whole country. Domestic experts setted up discussions on this subjest from all aspects such as its establishment, development, evaluation, etc., and some progress has been made. Also, it proves that the academic authorities of our country put far more weight on the research of the financial standard than on the execution.In the essay, firstly we review some academic study results about the New Standards finished by domestic experts and simply summarize the financial information relativity and information quality research. Then, we analyze the New Standards from the angles of the information relativity and affecting factors , discuss how the New Standards influent the relativity of the financial information quality basis on two sides, positive and negative, and make the conclusion that generally speaking, the release of the New Standards can improve the relativity of the financial information quality. Based on the theory analysis, we choose the finacial data of some companies listed in the Shanghai and Shenzhen Stock Exchange as meterial . As the New Standards was just practiced in January 1st, 2007, we select a large amount of cross-sectional data and devide them into the new standards group and the old standards group for regressive and comparative analysis. Through the study result, it can be found that the New Standards can truely improve the relativity of the financial information quality just as the theory analysis does to some extent but not that much. In conclusion, to improve the quality of financial information does not only need a serises of high-quality financial standard as the precondition but also an effective execution system as the assurance. It means that the execution of the financial standards is much more important than the standards itself, which provides the basis for the futher study in the following.With the processing of the study, gradually people will realize that the financial standard can't be put into practice without the effective executive system. Based on the references in hands, we divided the financial standards into internal and external executive system to discuss seperately and provide suggestion to how to perfect the executive system.