| Summary: | 碩士 === 國立臺北大學 === 會計學系 === 97 === Up to now, global finance and economy have still been attacked by financial storm caused by United States subprime mortgage crisis. Fair vale accounting is criticized as the main reason that worsened financial crisis and caused global financial chaos, it even appeared a trend that fair vale accounting is required to be modified or even be suspended. Facing present special economic atmosphere, accounting principle setters in the world compromised. FASB and IASB modified report content on present fair value accounting. The Financial Accounting Standards Board of our country also followed this trend, which prompted the study to discuss the change of financial instruments fair value information report mode and the impact on enterprise value relevance.
The study referred to the research of Ahmed et al. (2006), and established multiple regression model. Listed banks from 2004 to 2007 and the banks owned by financial holding companies were used as objects to examine the explanatory capacity of financial instruments (including financial derivatives) fair vale expression mode on sampling bank equity market value before and after the implementation of our country’s SFAS No. 34 .
According to the results of the study, it was not suggested that SFAS No. 34 forced financial instruments fair value to be recognized, which has more value relevance than disclosed before the implementation of the statement. But no matter before or after SFAS No. 34, the fair value information of derivative financial instruments and parts of non-derivative financial instruments of banking still has significant explanation for equity market value, which shows that for investors, financial instruments fair value has value relevance, so fair value approach is a quite appropriate accounting treatment for financial instruments.
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