2007年金融危機發生以來，學術和實業界認為公平價值會計會使企業價值產生較大波動且不易計價，是導致危機發生的原因之一。因此，瞭解危機期間公平價值會計資訊是否具有價值攸關性，是重要議題。本研究以Ohlson (1995)之會計基礎評價模式為實證的理論基礎，2000-2008年台灣上市櫃非金融保險證券業公司為樣本。首先探討公平價值會計的實施，是否有改變權益價值和盈餘資訊攸關性之知覺結構？接著比較公平價值會計實施後之非金融危機與金融危機期間，投資人對權益價值和盈餘資訊兩者之攸關性是否有改變？實證結果顯示1.投資人在實施公平價值會計後重視權益價值攸關性高於盈餘攸關性，與實施歷史成本會計期間相反，故有結構性的改變；2. 已實施公平價值會計之企業，在金融危機期間其攸關性結構與前者相同，然權益帳面價值攸關性較非危機期間減少，而盈餘攸關性反而增加。 Since the 2007 Global financial crisis, many articles pointed out that the fair value accounting could make a greater volatility of the enterprise value and difficult valuation, is one of the causes of the crisis. Therefore, to understand that whether fair value accounting information remain value relevance during financial crisis is an important issue. In this study, based on the Ohlson''s (1995) Residual Income Valuation Model, test using the sample of Taiwan companies of non-bank and insurance companies over the 2000-2008 period. The findings show that the investors emphasis relevance from equity book value than earnings after implementing fair value accounting, contrary to historical cost accounting, it is a structural change. Additionally, the enterprise that implemented fair value accounting, its relevance structure during financial crisis is similar to non-crisis. However, the value relevance of equity book value during the crisis less than non-crisis, while increased on earnings information.
