| Summary: | 碩士 === 國立中興大學 === 會計學研究所 === 107 === Previous studies have focused on whether government subsidies have an impact on value-relevance. Therefore, this paper uses Ohlson''s (1995) evaluation method as the basis model for this study which analyze the listed firms of Shanghai Stock Exchange and the Shenzhen Stock Exchange from 2003 to 2016. Our destination is to test the impact of government subsidies on the value-relevance. In addition, we distinguish the government subsidies in three ways: related to assets or not, tax-related or not, and central-related or not. To further explore their impact on value-relevance. We find that more government subsidies received, the investors will reduce their reliance on the announcement of earnings per share information, and the book value of shareholders'' equity will be taken into account.
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