The Influnece Old And New Accounting Standards On The Value Relevance Of Accounting Information

China's Ministry of Finance, considering the current international and domestic situation, in order to conform to the current macroeconomic environment, to meet China's market economy development and improvement needs, in February 15, 2006 to re-regulate corporate accounting practices, including one released Basic standard and 38 specific criteria, including a new set of corporate accounting standards. In accordance with the requirements of the new enterprise accounting standards from January 1, 2007 range from the implementation of the listed company. One ultimate goal of this reform is to increase the value relevance of accounting information to improve the quality of accounting information to better convey the value of the signal to the capital markets, but to the intended effect, is the accounting academic research. Theoretical research in this area many scholars, but also stop in the early empirical research, but the evaluation of the economic consequences of reform of accounting standards, require long-term observation and analysis.Therefore, the focus of this paper is to combine superior data and financial statements of the company's stock price on the old and the new accounting standards the value relevance of accounting information for empirical analysis to verify whether the new accounting standards, the expected effect, increase the value relevance of accounting information. Specific analysis method is based on the price model ohlson by spss statistical analysis for 2006 and 2010 financial statements of the three main table of financial data and stock prices to study the relationship between the value relevance of accounting information. First find out the most representative of the stock market and financial statement information corresponding to financial indicators, followed by testing of the various indicators and stock prices are correlated, and the relevance of the size of the old and new again under the guidelines through the sample data correlation test Analysis under the new accounting standards the value relevance of accounting information is higher than the old accounting standards is more relevant accounting information; the new accounting standards on each of the years after the implementation of the data correlation tests, analysis of accounting under new accounting standards Whether the value relevance of information year by year, whether the new accounting standards goals. Finally, to sum up the results of the analysis of the implementation of new accounting standardsAt present, scholars separate statement of income (i.e. accounting earnings) of the value of more relevance, and the conclusions are basically the same, on a separate balance sheet (i.e.net assets) or in a separate cash flow statement of the value of the correlation Research is also a hot spot, but the balance sheet, income statement and cash flow of information from the whole of the value relevance of accounting research is still very rare, which is the innovation of this article. This article is intended to study the background of the reform of accounting standards, through the analysis of the three best in the financial statements of accounting information and stock market performance of the corresponding financial measures (net assets per share, earnings per share, operating cash flow per share) and The relationship between stock prices to study the value relevance of accounting information, hoping to help research in this area.