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一、研究背景评述会计信息披露的价值相关性(Value Relevant)是资本市场环境下实证会计研究的主要范畴,该范畴主要研究在资本市场环境下会计指标与公司价值(一般以股价为替代变量)之间的相关性。根据Holthausen和Watts(2001)的研究,价值相关性分为如下三个部分:(1)相对关联研究(Relative association studies),该研究对比股价(或变化值)与各种收益性指标之间的关联程度(长窗口研
I. Research Background Comment Value Relevant of accounting information disclosure is the main category of empirical accounting research in capital market environment. This category mainly studies the relationship between accounting indicators and company value (usually using stock price as substitution variable) in capital market environment. The correlation between. According to the study of Holthausen and Watts (2001), the value relevance is divided into three parts as follows: (1) Relative association studies, which compare the relationship between stock price (or change value) and various profitability indicators Relevance (Long window research