The Fair Value Of Financial Assets Value Relevance Research

Along with the rapid development of capital market, equity dispersion degree rise, accounting goal is from the past concept of fiduciary duty shift towards decision-making useful concept, explaining capacity of accounting information is more and more widespread concern by investors. We think the information on the time distribution of a variety of forms, not only for information on the past information, now, more information should be shown as the future. The traditional historical cost measurement model mainly based on the book value of assets and liabilities, the accounting information emphasizes that happened in the past, unable to provide accounting information user can bring practical significance for decision-making reference for the future of the information, not to make a timely reflection of the economic environment changes. And the fair value is a kind of for the future, new accounting measurement model, can significantly improve the ability of interpretation of accounting information, provide incremental value information more widely, can meet the needs of investors’ decision-making, help investors to more accurately predict the company’s operating performance and future development trend. Therefore, once put forward the concept of fair value, for its high level of decision relevance and admired by the people and favor.Along with the new accounting standards promulgated in2006, comprehensive to expand the application range of fair value in our country, which makes the research of fair value in our country has a great progress, the domestic scholar to fair value application in our country mostly have optimism and positive attitude. The outbreak of the financial crisis, however, were making fair value once again called into question and controversy, foreign accounting standards setting bodies have adjusted the application of fair value in financial assets measured, improve the financial institutions in financial asset measured on autonomy. Due to the change of international economic situation, our country fair value measurement should do, should to avoid application of fair value measurement in our country? Although fair value under the impact of the financial crisis has exposed the drawbacks and loopholes in measurement model, but this should not be give up reasons for application of fair value, on the contrary, we should put the financial crisis as a further development of fair value research, active trading market environment for how to improve the relevance and reliability of fair value information more fully discussed, consummates our country fair value of the theoretical system.This paper on the fair value of the theoretical system are described, the definition and theoretical foundation of fair value and its correlation with the comprehensive interpretation of fair value are analyzed from the points of view of theory on improving value correlation there is a huge advantage. Under the support of relevant theories, this paper puts forward the research hypothesis according to the research target, adopts the financial report of listed companies in2011and2011data as sample, draw lessons from domestic and foreign scholar’s research methods, using in the field of value relevance research more mature and perfect price model, the stock prices of listed companies as the dependent variable, by split variable to test changes in fair value gains and losses and available for sale financial assets, changes in fair value with the value of the correlation between the stock price. On eligible data by descriptive statistics analysis, correlation analysis and regression analysis, we can more clearly see the changes in fair value gains and losses and available for sale financial assets, changes the forehead with a correlation exists between stock price and proves the hypothesis before, must be the fair value has advantages in terms of value relevance.