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Research on the Impact of Fair Value on the Investor’s Decision

Author: MengBing
Tutor: LiuWenHui
School: Capital University of Economics
Course: Accounting
Keywords: Fair value Accounting Standards Investors Decision Price change
CLC: F233
Type: Master's thesis
Year: 2010
Downloads: 509
Quote: 1
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Abstract


Application of fair value is to adapt to the requirements of the times, now its application has become an international trend. The fair value of the people of all ages, is based on people's demand for information is increasing, and the fair value of own characteristics can satisfy investors' changing information needs of the moment. Despite its negative impact on the financial crisis, but the country did not stop its use. In order to converge with international norms, our country in 2006 issued new accounting standards. New guidelines will be measured at fair value as one of the properties, and its purpose is to make the financial situation more transparent, truthful, and thus help investors make decisions. After the introduction of fair value, whether it is played to improve the quality of information to help investors make decisions role in it? Especially after the financial crisis, the impact of fair value on the decision whether to change? Our investors in the process of decision making Will the use of fair value information? paper to study it. Paper first reviews the relevant definition of fair value, related to the theoretical basis of the criteria compared before and after the financial crisis change; then expounded the decision-making process, and analyze the fair value of the decision-making relationships with investors; using Ohlson model checking prices on the fair value of investments the impact of those decisions, and comparative analysis of the fair value of the financial crisis on investor decisions about whether the impact of changes; Finally, investment real estate, for example, comparing the release properties at fair value change before and after the announcement of the company's share price movements, further examination Fair value for investors decisions. Conclusions of this study are as follows: First, in the profit-making enterprises, the share price was the same with the change in fair value changes in relation to investors as a basis for decision making will be one of the fair value. Second, the loss-making enterprises, investors are likely to see the use of the fair value of companies have the motivation to manage earnings, so in such enterprises, the fair value of the investors had no significant impact on decision-making. Third, after the financial crisis, on the whole, in 2007 and 2008, changes in the fair value of financial assets for investment decisions have a significant impact, but the impact is more obvious in 2007. Fourth, investment property measurement model change scenarios indicate that the fair value of the release announcement and the announcement the day before the day of price changes more obvious, the fair value of the related announcements will cause the attention of investors, and guide them to make investment decisions. This research scholars at home and abroad on the basis of the use of fair value test results, analyze whether played a purpose to help investors make decisions and how they affect investment decisions. Through practical application of fair value analysis, put forward their own views, I hope to give guidelines to improve the relevant departments to provide guidelines to develop new ideas.

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CLC: > Economic > Economic planning and management > Accounting > Accounting Organization and system
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