An empirical study on influence of Accounting Standards of Enterprises on the Value Relevance of the Accounting Information

The purpose of the paper is to explore of influences the implementation of new accounting standards on the value relevance of the accounting information.The research used the A-share listed companies' accounting data between 2001 and 2010,and tested the relevance between company's value and the items of income statement and balance sheet by using the Residual Income Valuation Model.And at the same time,the research tested the incremental contribution of different accounting information to value relevance,through calculating partial correlation coefficient after the implementation of accounting standards.The results show that the implementation of new standards improved the relevance between company's value and the items of the income statement and balance sheet.However,the improved relevance mostly comes from the contribution of the items of income statement.