Research On The Impact Of CAS39 On The Value Correlation Of Fair Value Information

Accounting measurement is the core issue of the accounting system and accounting measurement is focused on the choice of measurement attributes. With the rapid development of capital market in our country and further improve the dispersion degree of equity, in order to adapt to the needs of the development of the socialist market economy, in 2014, our country issued a specific standards-"accounting standards for enterprises no.39-fair value measurement of, aims to further standardize enterprise fair value measurement and disclosure, in order to improve the quality of accounting information, at the same time enhance China's accounting standards with international financial reporting standards coordination and convergence. The introduction and use of the fair value, our country has experienced a more tortuous process, so, the accounting standards for enterprises no.39-fair value measurement of the issue whether to implement the above purpose becomes people issues of concern.In this paper, on the basis of a lot of reading related literature both at home and abroad, by adopting the combination of normative research and empirical research methods, basing on the efficient market hypothesis, clean surplus theory, accounting objective theory, the measurement theory,this paper analyses the main CAS39 change and its impact on the value relevance of fair value information. On the basis of theoretical analysis, the financial company listed in as the research object, the selection of the financial company listed in our country as the research sample, using the financial company listed in our country in 2014 and 2015 half annals of financial data, through the empirical analysis, we examine the issue of our country implement CAS39 financial, the influence of the fair value of the listed company information value relevance research results show that:1. The enforcement of the CAS39 to improve the quality of financial accounting information of listed companies has played a positive role, and to enhance the financial information value relevance of fair value accounting of listed companies, and as a whole to enhance financial value relevance of accounting information of listed companies, to provide more useful accounting information for the decision of information users.2. Based on the financial statements prepared CAS39 disclosure has value relevance of fair value information, including the changes in fair value gains and losses and available for sale financial assets net changes in fair value, but the value of the profit and loss on the changes in the fair value relevance is higher than the available for sale financial assets net changes in fair value of the value of correlation., it means relative to the available for sale financial assets, the net changes in fair value can direct access to the information users to a greater degree of attention to changes in the fair value of the profit and loss information.