Fair value, Value-relevance and Corporate Governance

• Main Authors: Sin-Wei Chou, 周欣薇
• Other Authors: Siou-Mei Liao
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/73278786416062925594

碩士 === 銘傳大學 === 會計學系碩士班 === 99 === Taiwan is going to full adopt International Financial Reporting Standards (IFRSs) at 2013. IFRSs make a lot of balance items measure by fair value. But some items are in the inactive markets or unobservable that makes the fair value hard to measure. Many people want to know that did the fair value have value-relevance. We use annually reports of general industry from 2006 to 2009 to investigate that did the items measure by fair value have value-relevance. We also investigate that is the value relevance of fair values greater for firms with strong corporate governance. The empirical analysis shows that the value-relevance of assets measure by fair value is greater than assets measure by history cost. But the value-relevance of liabilities measure by fair value is not greater than liabilities measure by history cost. It also shows that the value-relevance of fair values will not be affected by corporate governance.