Study On Effect Of Corporate Governance On The Level Of Information Disclosure Of Fair Value Measurement

In 2010, China’s Ministry of Finance issued "Notice on the implementation of accounting standards for Listing Corporation and non-listed company do a good job in the 2010 annual report of work ", requirement of fair value measurement will be divided into three levels.Although our country has not enacted provisions re-quire disclosure of fair value hierarchy information, but some scholars study found, China’s financial industry listing Corporation has started publication of information related to the level of fair value measurement..Fair value is currently at the stage of development, whether in practice or in theory field of accounting, fair valueless data, by consulting some documents and data, research on fair value, many scholars at home and abroad are analyzed from the perspective of value relevance and reliability, only a small number of scholars is analyzed the hierarchical information,Therefore, based on the above consideration, this paper in reference to Astrology(2011) and Shao Li(2012) based on the theory of the fair value hierarchy, choose the empirical data of Chinese financial industry, from the angle of corporate governance level of information disclosure of fair value measurement of the empirical analysis, the purpose is to hope to be able to enrich the theoretical study on fair value measurement level of information aspects, and puts forward the feasible suggestions to promote the further development of fair value accountting in china.In this paper, through the research and analysis of the listing Corporation in 2007, the finance industry of our country-2013 years for a total of 278 samples, we tested two problems related to the measurement level of information and fair value from the perspective of Corporate Governance: one is the corporate governance of fair value measurement level of information disclosure of the existence of the impact; two is for the disclosure level measurement the information of the fair value of the company, the corporate governance of the fair value measurement of correlation between the 3 level would affect the. This paper introduces the design of acomprehensive factor score index of company governance, comprehensively considering the effect of corporate governance on the fair value measurement level information from the overall level, by constructing the model and empirical analysis, drew the following conclusions:(1) corporate governance and fair value measurement level of information disclosure of significant positive correlation.(2) the disclosure of fair value measurement level of information of the company, the impact of corporate governance perfect for third level information related to more than first, 2 level of information.Compared to the previous studies, the innovation points of the thesis mainly has 2 points:(1) is the innovation of research topics. Through the literature at home and abroad are mostly based on thefair value of the overall level, only study the hierarchical information of a few, plus point on the choice of corporate governance research, can reflect the characteristics of China’s listing Corporation management. Most empirical research is the choice of excluding financial sector, and this paper is just to choose a single financial industry research,can fill the empirical data of the financial industry.(2) the innovation of research method. This paper constructs a corporate governance index of comprehensive factor score by factor analysis method, the method is simple and representative. The empirical analysis shows significant positive impact on the corporate governance level of information on the measurement of fair value, corporate governance and perfect has a greater effect on the inhibition of management subjective measurement of the fair value hierarchy information third.