Comparative Research on Accounting Information Value Relevance Based on New and Old Accounting Principles

Taking the data of China's listed companies of A-share during 2004-2009 as an example and taking Ohlson(1995) Model as basic model,this paper studies the differences of accounting information valuation relevance of new and old accounting principles under varied economic background,further studies the valuation relevance of the statement items with big difference of accounting process under new and old accounting principles.The research results show that the valuation relevance of accounting information is different in varied economic background,but the accounting information value relevance is higher and more stable under new accounting principles,that the new regulations of new principle for accounting process of financial assets,fixed assets and intangible assets not only promote valuation relevance of relative accounting information but also its new regulations about intangible assets upgrade enterprises' technical innovation and value.