發(fā)布時(shí)間：2018-04-03 11:43

  本文選題：上市公司　切入點(diǎn)：會(huì)計(jì)穩(wěn)健性　出處：《東北石油大學(xué)》2013年碩士論文

【摘要】：隨著企業(yè)以及相關(guān)利益者越來(lái)越關(guān)注企業(yè)價(jià)值管理，企業(yè)價(jià)值評(píng)估相關(guān)理論和實(shí)務(wù)的研究得到了快速的發(fā)展，價(jià)值管理是現(xiàn)代企業(yè)研究的熱點(diǎn)。企業(yè)價(jià)值評(píng)估中的重要要素是選擇合理會(huì)計(jì)信息，而會(huì)計(jì)穩(wěn)健性要求企業(yè)合理的確認(rèn)會(huì)計(jì)信息，從而引出會(huì)計(jì)穩(wěn)健性對(duì)企業(yè)價(jià)值評(píng)估影響研究。 會(huì)計(jì)穩(wěn)健性對(duì)企業(yè)價(jià)值評(píng)估影響研究涉及到以下方面：一方面，分別基于契約理論、代理理論、信號(hào)傳遞理論以及不同企業(yè)價(jià)值評(píng)估模型，從理論方面分析會(huì)計(jì)穩(wěn)健性對(duì)企業(yè)價(jià)值評(píng)估影響。基于契約理論得出會(huì)計(jì)穩(wěn)健性可以減小契約摩擦增加契約價(jià)值進(jìn)而增加企業(yè)價(jià)值；基于代理理論得出會(huì)計(jì)穩(wěn)健性有助于降低代理成本，增加企業(yè)價(jià)值；基于信號(hào)傳遞理論得出會(huì)計(jì)穩(wěn)健性有助于提高信息可靠性和市場(chǎng)回報(bào)率，降低了企業(yè)價(jià)值評(píng)估風(fēng)險(xiǎn)，提高了企業(yè)價(jià)值；根據(jù)成本法、市場(chǎng)法和收益法等不同企業(yè)價(jià)值評(píng)估方法中也可以得出會(huì)計(jì)穩(wěn)健性有助于降低企業(yè)價(jià)值評(píng)估風(fēng)險(xiǎn)，增大企業(yè)價(jià)值評(píng)估結(jié)果。另一方面，基于會(huì)計(jì)穩(wěn)健性對(duì)企業(yè)價(jià)值評(píng)估理論分析結(jié)果，提出實(shí)證研究假設(shè)，依據(jù)不同企業(yè)價(jià)值評(píng)估模型選取了企業(yè)價(jià)值指標(biāo)以及根據(jù)企業(yè)籌資、投資、營(yíng)運(yùn)等活動(dòng)全方面選取會(huì)計(jì)穩(wěn)健性指標(biāo)，分別在不考慮控制變量和考慮控制變量情況下進(jìn)行二者間的實(shí)證分析，，在不考慮控制變量下以及依據(jù)不同企業(yè)價(jià)值指標(biāo)與會(huì)計(jì)穩(wěn)健性指標(biāo)間進(jìn)行相關(guān)性分析和線性回歸分析，得出會(huì)計(jì)穩(wěn)健性越強(qiáng)，企業(yè)價(jià)值越大；在凈利潤(rùn)增長(zhǎng)率為控制變量時(shí)得出，當(dāng)凈利潤(rùn)增長(zhǎng)率為正時(shí)，會(huì)計(jì)穩(wěn)健性與企業(yè)價(jià)值間相關(guān)性更強(qiáng)；在股價(jià)與權(quán)益凈利率為控制變量時(shí)得出，企業(yè)價(jià)值評(píng)估風(fēng)險(xiǎn)越小，會(huì)計(jì)穩(wěn)健性指標(biāo)與企業(yè)價(jià)值指標(biāo)間相關(guān)性越強(qiáng)，也從側(cè)面得出企業(yè)價(jià)值評(píng)估信息越具有穩(wěn)健性，其評(píng)估結(jié)果風(fēng)險(xiǎn)越小。 依據(jù)理論分析和實(shí)證研究結(jié)果，提出基于會(huì)計(jì)穩(wěn)健性的企業(yè)價(jià)值評(píng)估相關(guān)財(cái)務(wù)建議，并指出在考慮會(huì)計(jì)穩(wěn)健性作用下，選取剩余收益模型來(lái)評(píng)估企業(yè)價(jià)值是一種合理有效的評(píng)估方法，剩余收益模型更符合會(huì)計(jì)信息化、價(jià)值管理等思想，是一種符合現(xiàn)代管理的一種評(píng)估方法。
[Abstract]:With the enterprises and related stakeholders pay more and more attention to the enterprise value management, the research on the theory and practice of enterprise value evaluation has been developed rapidly, and the value management is the hot spot of the modern enterprise research.The important element of enterprise value evaluation is to select reasonable accounting information, and accounting conservatism requires the enterprise to confirm accounting information reasonably, which leads to the study of the influence of accounting conservatism on enterprise value evaluation.The research on the impact of accounting conservatism on enterprise value evaluation involves the following aspects: on the one hand, it is based on contract theory, agency theory, signaling theory and different enterprise value assessment models, respectively.The influence of accounting conservatism on enterprise value evaluation is analyzed theoretically.Based on the contract theory, it is concluded that accounting conservatism can reduce contract friction, increase contract value and then increase enterprise value; based on agency theory, accounting conservatism can help to reduce agency cost and increase enterprise value.It can also be concluded that accounting conservatism is helpful to reduce the risk of enterprise value evaluation and increase the result of enterprise value evaluation in different enterprise value evaluation methods such as market method and income method.The accounting conservatism index is selected from all aspects of operation and other activities, and the empirical analysis between them is carried out without considering the control variable and the control variable respectively.Without considering the control variables and according to the correlation analysis and linear regression analysis between different enterprise value index and accounting conservatism index, it is concluded that the stronger the accounting conservatism, the greater the enterprise value;When the net profit growth rate is a control variable, when the net profit growth rate is positive, the correlation between accounting conservatism and enterprise value is stronger.The stronger the correlation between accounting conservatism index and enterprise value index is, the more conservatism the enterprise value evaluation information is, the less the risk is.Based on the theoretical analysis and empirical research results, this paper puts forward the relevant financial proposals of enterprise value evaluation based on accounting conservatism, and points out that under the consideration of accounting conservatism,It is a reasonable and effective evaluation method to select the residual income model to evaluate the enterprise value. The residual income model is more in line with accounting information, value management and other ideas, is a kind of evaluation method in line with modern management.
【學(xué)位授予單位】：東北石油大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275;F233;F276.6

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本文編號(hào)：1705063