The Reform Of China's Enterprise Accounting System Accounting Information Before And After The Value Of The Correlation Analysis

Ministry of Finance promulgated "Accounting System for Business Enterprises" on Dec.29 2000. From Jan.l 2001 all shareholding companies prepared their financial statements in accordance with this new accounting system. It absorbs the distillate of detailed accounting standards adequately and refers the international accounting tradition. It is constituted on the basis of summarization and analysis of old accounting system weakness in our country. The promulgation and implementation of this new accounting system is a significant measure for improving the quality and value relevance of accounting information. It enhances the quality of accounting information such as earnings and book value by improving principle of accounting acknowledgement and measurement. But whether the value relevance of accounting information has been enhanced after the accounting system reform, which is a question for everybody to concern. Thus, from the point of view of information perspective and measurement perspective, using event study, return model, price model and adjusted price model, this thesis compares and examines the value relevance of accounting information before and after accounting system reform.The details include:Part One (Chapter One): issuing the question, study significance, study line of thought, study methods and instrument, study innovation and deficiency.Part Two (Chapter Two): to introduce the constitution background of "Accounting System for Business Enterprises" and the content of accounting system reform on the basis of reviewing and commenting briefly accounting system reform for twenty years in China, and to analyze the influence of accounting system reform on book value and earning. And they are the base of the farther study.Part Three (Chapter Three): to review and comment briefly the study method and conclusion of value-relevance in the oversea and domestic security markets.Part Four (Chapter Four): to describe the source of data and analysis method in the thesis, especially to describe the four study models in detail.Part Five (Chapter Five and Chapter Six and Chapter Seven): Positive study of Shanghai A-shares market and Shenzhen A-shares market and A-shares markets in China by using event study, return model, price model and adjusted price model.Part Six (Chapter Eight): To come out the brief conclusions systematically by the analysis of part five. The conclusions of this thesis are as follows: the value relevance of earnings is enhanced after accounting system reform, the value relevance of book value is reduced after accounting system reform. In view of actual condition in Chinese stock market the thesis explains empirical conclusions from three aspects. Last to bring forward corresponding countermeasures.