企業若同時採用本國會計準則與國際會計準則，其資訊品質有否差異？近年來由於企業與投資人強調國際間之財務報表比較，會計品質中之價值攸關性及比較性更是觀察的重點，因此本研究以比較性與價值攸關性之會計品質為研究基礎，目的在暸解同一企業同時使用兩種不同會計準則，其會計資訊之比較性與價值攸關性品質如何？中國企業之Ａ股採本國會計準則，Ｂ股採國際會計準則作為本研究之樣本。衡量比較性是以De Franco, Kothari, and Verdi (2011)發展財務報表比較性實證模型，並透過股票報酬率、投資利得、資產減損損失是否因不同會計準則反映到盈餘有所差異; 衡量價值攸關性是以Ohlson(1995)評價模式所衍生出之價格模型，並透過毎股盈餘、每股帳面價值是否因不同會計準則反映到股票價格有所差異。利用其縱橫資料（panel data）考慮時間序列固定效果，也觀察盈餘與股票價格變數延遲變項之影響。研究結果顯示，B股採用國際會計準則之比較性與價值攸關性高於中國會計準則，隱含投資人認為B股採用國際會計準則會及時揭露財務資訊及最能允當表達交易經濟實質的財務報告。故本研究建議中國現在應該直接採用國際會計準則，以提高其財務報表之可比較性及價值攸關性資訊品質，俾利於中國企業之國際資金籌措與海外營運之管理。 Is there difference in their information quality, if firms adopt domestic accounting standards (GAAP) or international accounting standards (IFRS)? In recent years, companies and investors emphasize more on comparing financial statements quality among nations, especially focus on the value relevance and comparability. Therefore, this study aims to understand when a company adopts both accounting standards, what happen in their comparability and value relevance quality? Our sample from Chinese firm’s A-share and B-share. Comparability using De Franco, Kothari, and Verdi’s (2011) measure. Also, analyzing impact on earnings under both standards. Value relevance using Ohlson’s (1995) measure. Also, analyzing impact on stock price under both standards. Our regression analysis considered the time series fixed effects and earnings and stock price delay variables. The result shows B-share, has higher comparability and value relevance than A-share. This implies investors believe the financial reports adopting IFRS can disclosure financial information in a timely manner, with the most fair presentation on transaction economic substance. We suggests that China should adopt IFRS in order to improve the comparability and value relevance of its financial statement, that will also assist China firms to raise funding and manage oversea operations.
