摘要
2001年开始实施的《企业会计制度》(以下简称旧准则)要求上市公司计提八项资产减值准备,并允许减值准备的转回。虽然这个规定的初衷是为了更好地体现资产的定义和稳健性原则,然而无论理论界和实务界都认为这个规定在客观上为企业进行盈余管理提供了可乘之机。在这样的背景下,2006年财政部公布了《企业会计准则第8号——资产减值》(以下简称《资产减值》),对资产减值的相关规定做了大量的修改:取消了长期资产减值准备的转回、提出了资产组概念、规范了可收回金额的确定程序等。从2007年开始,新准则已实施两年,那《资产减值》的经济后果如何呢?本文以2001—2008年上市公司的资产减值信息为样本,检验了《资产减值》的经济后果。首先,我们发现《资产减值》实施后,资产减值信息与经济因素的关系加强了。其次,我们按照资产减值的经济原因将资产减值信息分解为正常的资产减值和超常的资产减值,我们发现在控制了经济因素和稳健性因素后,《资产减值》实施后的资产减值信息与盈余管理的关系比《资产减值》实施前降低。这说明了《资产减值》在一定程度上减少了上市公司利用资产减值进行盈余管理的空间,从而使资产减值信息更加具有价值相关性。
The ＂China Accounting Standards＂ established in 2001 required all public firms to accrue asset impairment as reserve on eight types of assets, but allowed the reserve to be reversed when the value of an asset recovers. Although the regulation aimed at making accounting information more relevant and providing a better match between accounting value and economic value of assets, empirical research and case studies have shown that assets impairment and subsequent reversion were used by firms to manipulate earnings. To reduce earnings manipulation, in 2006, the Department of Treasury established a new standard on asset impairment called ＂Standard for Asset impairment＂, which give stricter and more spe- cific rules for asset impairment, and permit no subsequent reversion, even if asset value re- covers. In this paper, we study the economic consequences of the new asset impairment stand ard. We separate impairment into two components： a normal （expected） component that is driven by various economic factors, and an abnormal component that is more likely to be driven by earnings manipulation incentive. Using the data from 2001--2006 under the old standard and from 2007--2008 under the new standard, we find the evidence that the new standard reduces the association between abnormal asset impairment and earnings management tenden-cy controlling the conservatism factors and the economic factors. Hence, we conclude that the new standard makes the accounting information more value relevant.
出处
《中国会计评论》
CSSCI
2009年第3期315-328,共14页
China Accounting Review
基金
四川省哲学人文社会科学"十一五"规划的资助(SC08C12)
西南财经大学"211工程"三期青年教师成长项目的资助
关键词
资产减值
经济后果
盈余管理
超常资产减值准备
价值相关性
Asset Impairment, Economic Consequences, Earning Management, Abnormal Asset impairment, Value Relevance
