Research On The Decision Usefulness Of Accounting Information In Macroeconomics

Since the publication of the classic paper by Ball and Brown(1968),The usefulness of accounting information has always been a hot topic in the field of accounting research.The current research mainly focuses on the influence of enterprise accounting information on the investment strategy of micro-market players.But most people overlook the other side of the usefulness of accounting information--the usefulness of the macro-economy.Accounting standards for both 1992 and 2006 refer to financial reporting users should include macro-level decision makers.At present,the research in this important field has just started,and it has been developing vigorously.In the journal of Accounting research and Accounting research in Chian,there are many important literatures.Based on the analysis and evaluation of the current accounting information on the macro level,this paper focuses on the following three aspects:(1)The correlation between accounting information and macro GDP information,(2)the usefulness of accounting information to analyze GDP growth drivers,(3)the usefulness of accounting information to forecast GDP growth.The former is the logical foundation of the latter research,and the latter is the extension of the former.However,the current research focuses on the third question and ignores the first two important questions,which is an extension of the research in this field.This paper mainly uses the empirical research method to study above three problems.The regression model of foreign scholars is constructed and improved.Total operating cost,total operating revenue,profit(including net profit),etc.are used as the proxy variables of accounting information to study the usefulness of accounting information to GDP analysis.The empirical results show that accounting information is related to GDP information.From microscopic enterprise financial point of view,the main factors of drive economic growth in China including operating cost,revenue,profit,and the role of revenue and profit is not obvious as operating cost.This shows that the main driver of China's economic development is investment,not benefit.The accounting information disclosed by China's listed companies is useful for predicting GDP.The characteristic and innovation of this paper is that there are few researches on applying accounting information value correlation theory to macroeconomics,and the research of this paper is helpful to enrich the research content of this field.Previous studies mainly started from the perspective of macro-economy,analyse what are the effects of changes in macro-policy to micro-enterprises.Our study starts from the micro-enterprise,analyse the promble of macroeconomics.It is the opposite of the previous study.From the difference of accounting system,the accounting information of micro-enterprises is combined with macro-economy.The correlation between accounting information and GDP is found out through the difference of accounting system,so as to conduct research.It also proves that the relationship between accounting information and GDP is not a simple relationship between the whole and the part,but both overlapping and different.