On the Economic Consequence of Listed Companies in China Adopting Fair Value Measurement——An Analysis of Data from the 2008 Annual Financial Report

The biggest highlight in China's current corporate accounting standards system is the moderate,cautious introduction of fair value measurement,the definition of fair value under the basic standard and the application of fair value measurement to different degrees in 21 specific standards.After two years of implementation,fair value measurement is overall in a good condition.However,some problems still exist.For example,the determination of fair value is non-standard,the disclosure of fair value information is deficient and the performent-affected industries character are too obvious,and so on.In consideration of all the problems,the following measures should be taken to improve the fair value measurement:developing fair value measurement standards and its guidelines,guiding enterprises to do core business,coordinating the relationship between regulation and fair value information etc.