| For long time, the history cost has been the main mode of accounting measurement. But along with the development of the economy, especially financial tool's flowing out continuously, the history cost is gradual hard to cope with situation. Under this kind of circumstance, the fair value mode emerge with the tide of the times. The research of fair value in western nation arises from the early part of 70's in 20 centuries. Under the influence of abroad research, our country starts the research of fair value in mid 90's in 20 centuries, and then use it in accounting standards.Currently, our country is in a key stage to the research of fair value. Before the implement of accounting standards on Jan 1st 2007, fair value already been introduced to our country's accounting standards in 1997. But accounting standards published in 2001 obviate it again definitude. Therefore, the application of fair value in our country encounters many difficulties. In the overseas corresponding time, the scholar has carried on the checking to the fair value application in the capital market response. Now what about the capital market reactions to that fair value was introduced to accounting standards published up to the minute.Because of these questions, this article first to explain the capital market should have the response to the fair value application in theoretically. Later, author reviewed the development track of fair value in international and the domestic, especially analyzed the condition and reason of new accounting standards referring to fair value. And then, this article used the event-study methodology, separately to the total index and the finance, the real estate class went on the market the company stock price to carry on the examination, then carried on the comparison to two findings. Finally, educe the conclusion that this event have the positive influence to the stock price in china. Lastly, This paper puts forward a series of suggestion to our country's usage of fair value. |
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