Comparative Value-Relevance of Chinese and International Accounting Standards in China
نویسنده
چکیده
In February 2006, the Chinese Ministry of Finance formally announced that, from 2007 onwards, the Chinese Accounting Standards (CAS) would be converging with International Accounting Standards (IAS). This significant step towards international accounting harmonization, for the purpose of attracting foreign investment, invokes the question as to whether the newly implemented IAS will indeed achieve the envisaged benefits of providing more useful information to capital market participants. This study aims to provide empirical evidence to address this question, by examining the comparative value-relevance of CAS versus IAS in the Chinese capital markets. The results of this study will inform the policy-makers whether moving towards IAS will improve information dissemination in the Chinese capital market.
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