Study On The Economic Consequences Of Business Combination Accounting Methods Based On The Analysis Of Investors

Along with rapid economic development and increasingly mature capital market, e nterprise merge share resource and advantage and upgrade competition power.At present, the merge methods have been controversial, the international rules use fair value metho d, but our country still keep value method and fair value method.In 2014, the new sta ndards for enterprises No.33 of definition and merge program description become detai led. Based on relevant theories of economic consequences, investors without violating st andards require that the premise of likely make a trade-off between different accounting policies in the best interest of their own choices.Combined methods lead to different a ccounting information difference obvious, at present laws and regulations and regulatory conditions are still not perfect, and managers make decisions conducive to the develo pment of the enterprise,combined methods could affect the judgment of investors.By the book value has high reliability of accounting information, but due to the defect of me asurement basis and disclosure will make investors'decision lack of usefulness, even h as some misleading; and fair value method has higher relevance and usefulness,but acc urate measurement of fair value need to be addressed. Since international background, th e thorough understanding of business merger, comparison analysis, can provide investors with more reasonable suggestions, better regulate mergers, healthy and long-term devel opment.First of all, listed companies under the perspective of investors merge method sorting and analysis on the economic consequences research literature at home and abroad, according to the theory of fair value and book value method as the foundation, the agent theory, efficient market theory, economic consequences theory and contract theory is studied in this paper.According to Chinese actual conditions, analysis of the practical application and the specific situation with the general characteristics of the data,proposed the fair value and book value method specific problems in the merger.Data selected from the Shanghai and Shenzhen stock market in 2014 and 2015, that only use one method of company merger as samples, inspection stock financial indicators.Through empirical tests under different consolidation methods of value relevance. Finally, based on the theory and empirical research conclusion, and put forward advice to investors, problem solving, in order to better implement and norms.