The Research On The Relationship Between Timeliness Of Information Disclosure And The Relevance Of Fair Value

.China's new accounting standards introduced the fair value carefully and properly. There has always been argument whether fair value can improve the relevance of accounting information in domestic and international empirical and theoretical circles. However, the fact is that relevance of the fair value of affected by many factors. This paper is to study that how the disclosure timeliness of statements influence the relevance of the fair value. The fair value itself has the time demand strongly and the fair value may changes in a short time. Besides, time limits on report disclosure is 4 months, and then whether the timely disclosure statements provide more relevant information than the statements revealed lately? This paper discussed on the relationship between the two and has some innovative in this research perspective itself. From previous research, they studied the fair value and timeliness respectively, but did not associate timeliness and the fair value.This paper presents the theoretical basis and empirical research methods, selects listed companies in Shanghai Stock Exchange from 07 to 09 as samples, uses the pricing models and revenue models, dummy variables of timeliness were introduced, and uses the regression analysis to test the relationship between timeliness and the value relevance of fair value. The following conclusions are formed.the timeliness has incremental value relevance on profit or loss of the changes on fair values, that is, the more timely disclosure of the fair value, the degree of the relevance is higher; Timeliness has a negative relationship with the changes of the financial asset available for sale, but do not has statistical significance; Timeliness of the overall change on fair value has cremental value. Visibility, timeliness has great impact on relevance of fair value, and then the paper concludes with some suggestions for application of fair value.