Deferred Income Tax Accounting Information Value Correlation Studies
|School||Dongbei University of Finance|
|Keywords||Deferred income tax Accounting information Value relevance|
In today’s rapid development of economic globalization, the international convergence of general accounting rules has become the goal of current accounting system in our country.In2006, China launched a new accounting standards for enterprises and put it into practice on January1th,2007. The accounting standards for enterprises no.18--income tax is very different fom the original income tax of accounting rules in accounting concepts, accounting methods and subjects.It has become today’s scholars research problems that what the effects of the new income tax accounting rules’s changes on the enterprise value, how investors face these changes and whether these changes increased the income tax accounting information’s decision usefulness.This paper which is on the basis of the past study aims to study the value’s correlation of the deferred income tax accounting information after the implementation of the new income tax accounting standards. In the view of the theoretical basis, this paper firstly introduces the development of the income tax accounting, the comparative analysis of the new and old income tax accounting standards in our country and the comparative analysis of our country and international income tax accounting standards; Secondly, expounds the concept of value relevance and the theoretical basis, Scholars before the final of the deferred income tax accounting information value relevance of relevant research at home and abroad literature review. When it comes to the value of the deferred income tax, this article first introduces the correlation analysis of deferred income tax accounting information value relevance; Secondly puts forward relevant assumptions:(1) under the new enterprise accounting standards system confirmed deferred tax and stock prices are significantly positive related to net worth.(2) under the new enterprise accounting standards system confirmed deferred income tax assets are significantly positive correlation with stock prices, the deferred income tax liabilities are significantly negative correlation with stock prices. Based on the normative analysis this paper combined the empirical research on the basis of using the Ohlson model price, select China a-share and shenzhen two city listed companies on January1,2007to December31,2011as empirical test samples of the primary, the deferred income tax accounting information value relevance of empirical test and analysis.This paper shows that the new income tax accounting standards after five years implementation, deferred tax and stock prices significantly positively related to net worth, the deferred income tax assets and stock prices significantly positive correlation, deferred income tax liabilities significantly negative correlation with stock prices. Company size and a-share float for enhanced the deferred income tax value relevance of accounting information and stock prices have A negative direction, the influence of manufacturing sectors net’s ability to explain the stock price is higher than the industry, the annual deferred tax accounting information value relevance are different. Above, results show that the implementation of the new income tax accounting standards allow investors to deferred income tax assets and deferred income tax liabilities as a real assets and liabilities and deferred income tax accounting information can help investors to make correct investment decisions can accurate reflection of the stock price changes.