B Shares Of Listed Companies At Home And Abroad Report The Usefulness Of Empirical Research

With the Economy Globalization, as a universal commercial language, the trend of accounting standards internationalization will not be suspected. However, there are different views in how to use international conventions for reference of international harmonization of accounting, and whether the process of accounting internationalization must consider the influences of economy environment. Theoretically, the international harmonization of accounting standards is formal harmonization , the harmonization of accounting practice is factor harmonization. The final objective of accounting internationalization is factor harmonization. Under the objective, how much the difference between the International Accounting standards and the Chinese Accounting standards at the present.The B listed companies of china must disclosure the accounting data pursuant to Chinese Accounting standards and International Accounting standards separately according to the regulation, which offer the feasible method with research about the difference between International Accounting standards and Chinese Accounting standards. In article the author chooses the 83 companies that simultaneously issued stock in A and B stock market as the samples, uses the accounting data of 2002 annual fmaneial reports, and bring forward two hypotheses with the method of empirical study to research two issues: Is mere any evidence difference at earnings in quality calculated according to International Accounting standards and the Chinese Accounting standards? Have extra information content the earnings reconciled under International Accounting standards, and does it have more decision usefulness to the investor? Then, the author utilizes Return-model and Price-model to test and verify in the way of empirical research, and the finding shows that the accounting earnings have obvious systematic difference and the data under International Accounting standards is no more correlative to the evaluation of stock than that of Chinese Accounting standards. It is said that the eatniags adjusted by IAS has not brought the extra information content to investor. The result is that the international harmonization of Chinese accounting standards has not accomplished the factor harmonization. So in the process of accounting internationalized we should both reference the international conventions and consider the factor of accounting supporting environment.