利潤(rùn)表中的投資性房地產(chǎn)在公允價(jià)值模式下的變化：來(lái)自于香港的證據(jù)外文翻譯-預(yù)覽頁(yè)
【正文】 esults of a pairedsample ttest performed to pare the earnings volatility before and after the application of HKAS 40 (2020). Earnings volatility is expressed as the number of standard deviations from a fiveyear mean (mean of the earnings of the five years ending on the year of HKAS 40 (2020) application). Earnings volatility is significantly higher after the adoption of HKAS 40 (2020) (t = , p = ). . Short window event study Table 4 reports the regression results from the estimation of equation (1). Results for the shortwindow event study provide evidence that the presentation of changes in fair value of investment properties in the ine statements as required by HKAS 40 (2020) is more informative to investors than the presentation required by SSAP 13 (2020).Investors respond to the information on changes in fair value in the ine statement, as released in the results announcement, causing abnormal returns. The coefficient 8 of the interaction variable IPVC*AFTER in equation (1) is positive and significant at the 5% level (p = ). As expected, neither earnings (EARNB) nor earnings change before investment properties’ open market value/changes in fair value ( EARNB) is significant in explaining the abnormal return within the short window when SSAP 13 (2020) is adopted in the financial statements. Although the overall R2 is only %, this is consistent with the results from prior shortwindow studies. All the coefficients are positive except that of investment properties’ value changes (. IPVC),which is negative (but not statistically significant).Barth et al. (1990) and Barth (1994) also find similar negative coefficients for securities market price gains and losses and interpret them as evidence of a market that perceives that securities gains and losses are used to smooth earnings. . Longwindow abnormal return – unexpected earnings association The regression results for the long window abnormal return and unexpected earnings association are reported in Table 4. As the window opens wider, the earnings before changes in open market value or fair value (. EARNB) in equation (2) also bee significant at the 5% level and the overall adjusted R2 increases to %. 7 This is consistent with the results from prior studies using long windows where significance of earnings is found together with higher overall R2. Source: Stella So .Malcolm Smith, Valuerelevance of presenting changes in fair value of investment properties in the ine statement: evidence from Hong Kong. Accounting and Business Research, 2020 Vol. 39. No. 2. pp. 103118. 譯文 ： 利潤(rùn)表 中的投資性房地產(chǎn)在公允價(jià)值模式下的變化：來(lái)自于香港 的 證據(jù) 國(guó)際會(huì)計(jì)準(zhǔn)則第 40（ 2020） 首次聲明， 國(guó)際會(huì)計(jì)準(zhǔn)則委員會(huì)允許非金融資產(chǎn)的公允價(jià)值模式（ IASCF， 2020c）。 然而 ,作者 (2020)并不完全同意 ,他評(píng)估來(lái)自兩種觀點(diǎn)的股票估值和服務(wù)意識(shí) 的 歷史成本計(jì)量 和 公允價(jià)值會(huì)計(jì) ,并認(rèn)為 ,當(dāng) 公允價(jià)值會(huì)計(jì) 是在 一個(gè)概念 水平上的相加 ,并且 歷史成本會(huì)計(jì)問(wèn)題仍未解決 。本研究集中在第三期 ,投資性房地產(chǎn)的公允價(jià)值變動(dòng) ,在利潤(rùn)表和估價(jià)準(zhǔn)備金。近似結(jié)果全部等得到使用銀行數(shù)據(jù)。 股票價(jià)格和投資證券的公允價(jià)值之間的關(guān)聯(lián) ,以及分享收益和公允價(jià)值之間證券的利得和損失，這些都被發(fā)現(xiàn)了。 Danbolt 和里斯 (2020)解釋他們的證據(jù)結(jié)果對(duì)于采用公允價(jià)值 會(huì)計(jì)沒(méi)有一個(gè)明顯的優(yōu)勢(shì)，如果公允價(jià)值收入資產(chǎn)負(fù)債表是提供給用戶的話。迪特里希孫俐 (2020)等人還發(fā)現(xiàn)了考核信度 在由部監(jiān)測(cè)評(píng)估師和六大核數(shù)師的監(jiān)控下，在不斷上升 。然而 ,OwusuAnsah 和 Yeoh(2020)只包括具有在 投資性房地產(chǎn)價(jià)值具有積極變化的公司。 實(shí)證結(jié)果 雖然 HKAS 40期 (2020年 )允許在成本與公允價(jià)值模式之間自由選擇 ,92家公司在首次樣品中選擇采用公允價(jià)值模式。 表 1 描述了在這項(xiàng)研究中的 92 家公司在會(huì)計(jì)年結(jié)束以及最后一次遵循會(huì)計(jì)準(zhǔn)則第 13（ 2020）條那年和首次采用香港會(huì)計(jì)準(zhǔn)則第 40 號(hào)（ 2020）那年的分布。 表 2A 和 2B 包含研究中的 92 家樣本公司在與最后一次采用會(huì)計(jì)實(shí)務(wù)準(zhǔn)則 13號(hào)（ 2020）那年相比，第一次采用香港會(huì)計(jì)準(zhǔn)則第 40 號(hào)（ 2020）那年期間的描述性統(tǒng)計(jì)分析。公10 司規(guī)模和中原指數(shù)的變化都在本研究中受到控制。在投資性質(zhì)的公允價(jià)值中的 平均利潤(rùn)和損失為 827m 港元 ,幾乎相當(dāng)于在 848m 港元損益下收益。收入波動(dòng)在采用 香港會(huì)計(jì)準(zhǔn)則第 40 號(hào)（ 2020）后 有顯著的提高。雖然整體 R2 只是 %,這是符合原有較短的研究的
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