A Study on Decision Availability of Fair Value Information under Different Hierarchies——Experiential Analysis of Financial Industry Based on the A-share Listed Financial Companies

Based on fair value hierarchy theory FAS 157,this paper adopts Ohlson price model and studies whether information disclosure of fair vlaue hierarchy is accepted by China capital market by taking three hierarchies of fair value as studying object and through empirical analysis of A-share financial industry.The analysis results show that the information disclosure of fair value hierarchy is conducive to stock price rise of the listed companies,that the fair value assets of the first hierarchy have more incremental value than that of the second hierarchy,however,the fair value assets of the third hierarchy and three hierarchies of fair value do not demonstrate significant value relevance.The related departments should make universal standard for fair value hierarchy disclosure and encourage listed companies to calculate their fair value assets and debt by the agnecies such as appaising companies,accounting companies and so on.