公允价值会计是否通过市场测试_

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1、RevAccountStud(2013)18:734–775DOI10.1007/s11142-013-9232-0Doesfairvalueaccountingfornon-financialassetspassthemarkettest?HansB.Christensen•ValeriV.NikolaevPublishedonline:29May2013ÓSpringerScience+BusinessMediaNewYork2013AbstractThechoicebetweenfairvalueandhistoric

2、alcostaccountingisthesubjectoflong-standingcontroversyamongaccountingacademicsandregulators.Nevertheless,themarket-basedevidenceonthissubjectislimited.Westudythechoiceoffairvalueversushistoricalcostaccountingfornon-financialassetsinasettingwheremarketforcesratherth

3、anregulatorsdeterminetheoutcome.Ingen-eral,wefindaverylimiteduseoffairvalueaccounting.However,theobservedvariationisconsistentwithmarketforcesdeterminingthechoice.Fairvalueaccountingisusedwhenreliablefairvalueestimatesareavailableatalowercostandwhentheyconveyinform

4、ationaboutoperatingperformance.Forexample,withveryfewexceptions,firms’managerscommittohistoricalcostaccountingforplantandequipment.Ourfindingscontributetothepolicydebatebydocumentingthemarketsolutiontooneofthecentralquestionsintheaccountingliterature.Ourfindingsindic

5、atethat,despiteitsconceptualmerits,fairvalueisunlikelytobecometheprimaryvaluationmethodforilliquidnon-financialassetsonavoluntarybasis.KeywordsFairvalue
IFRS
Non-financialassets
IlliquidassetsJELClassificationM4
M41Thispaperpreviouslycirculatedunderthetitle:‘‘Whouses

6、fair-valueaccountingfornon-financialassetsafterIFRSadoption?’’H.B.Christensen(&)
V.V.NikolaevBoothSchoolofBusiness,TheUniversityofChicago,5807SouthWoodlawnAvenue,Chicago,IL60637,USAe-mail:hchrist2@Chicagobooth.edu123Fairvalueaccounting7351IntroductionThechoicebetwe

7、enfairvalueandhistoricalcostaccountingisoneofthemostwidelydebatedissuesintheaccountingliterature.Whilethedebatedatesbacktothe1930s(Paton1932;pp.739–747;Fabricant1936),itisstillunsettled(e.g.,Schipper2005;BallandShivakumar2006;Watts2006;LauxandLeuz2009;Hailetal.201

8、0).Oneimpedimenttomovingthedebateforwardisthelackofevidenceonthechoicebetweenthetwoaccountingpractices,whenthechoiceisdeterminedbymarketforcesratherthan