The Change of Value Relevance of Performance Measures after Convergence with IFRSs- Evidence from China
Autor: | Wan-Ching Lin, 林婉菁 |
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Rok vydání: | 2013 |
Druh dokumentu: | 學位論文 ; thesis |
Popis: | 101 In January 1th, 2007, China implemented the New China Accounting Standards (NEWCAS) which converged with International Financial Reporting Standards (IFRSs).Therefore, this paper aims to examine the change of value relevance of performance measures before/after implementing the NEWCAS from the relative/ incremental view by using the sample of Shanghai and Shenzhen Stock Exchange A-share listed companies in China. This study finds that(1)The relative value relevance of income before income tax(IBTAX), net income(NI) and total comprehensive income(TCI) were decreased after implementing the NEWCAS. (2) The incremental value relevance doesn’t have significanct difference after implementing the NEWCAS. In general, relative to old China accounting standards, NEWCAS didn’t bring more information to investor.(3)Before/after NEWCAS, the value relevance of performance measures between the company in foreign investment and institutional investor’s shareholding rate high/low group doesn’t have statistically significant difference.(4)The investor in high foreign investment and institutional investor’s shareholding rate group think the information content of total comprehensive income(TCI) were decreased after implementing the NEWCAS. The investor in low rate group think the information content doesn’t have significanct difference after implementing the NEWCAS.(5)In multivariate analysis, after NEWCAS, the value relevance of operating income(OPINC), net income(NI) and total comprehensive income(TCI) in large size company are lower than before NEWCAS and small size company. In univariate analysis, before/after NEWCAS, the value relevance of earnings brfore interest, income tax, depreciation, and amortization (EBITDA), operating income(OPINC), net income(NI) and total comprehensive income(TCI) between the company in large/small size have statistically significant difference. |
Databáze: | Networked Digital Library of Theses & Dissertations |
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