Empirical Study about Equivalence of IFRS, Japanese GAAP, and U.S. GAAP

根据美国公认会计原则调节者的年度报告，尝试了IFRS、日本公认会计原则和美国公认会计原则的等同性评估。本文将关于美国公认会计原则调节是否对投资者有用的优先研究分为三类进行了综述。三种修正模型，包含美国GAAP盈余调整差异变量框架; RCNC [（GAAP收益调整差异/国外GAAP收益或IFRS收益）]，在收益资本化模型、账面价值模型、Vuong检验比较了盈余对股价的解释能力23家美国GAAP报告者（包括14家日本公司）和63家美国GAAP调节者（5家IFRS应用公司，58家其本国GAAP应用公司）的资本化模型、账面价值模型和剩余收益模型。虽然账面价值模型和盈余资本化模型的排名和优势度与前人研究不同，但剩余收益模型的股价解释能力最优。美国公认会计准则报告员的解释力忍受了美国公认会计准则调节员的解释力。根据Vuong检验，虽然没有检查美国GAAP盈余调整差异变量的增量信息内容，但发现美国GAAP盈余调整差异变量与股价之间存在显著关系（5%水平）。关于这些问题的研究结果发表在2007年8月出版的《会计学》第172卷第2期上。

Equivalent nature evaluation of IFRS, Japan GAAP, and U.S. GAAP was tried based on the annual report of the U.S. GAAP reconciler. The precedence research on whether reconciliation to U.S. GAAP is useful for an investor was classified and reviewed in three types. Three correction models which contain frame of U.S. GAAP earnings adjustment differences variable; RCNC [(GAAP earnings adjustment differences/foreign GAAP earnings or IFRS earnings)] which divided the absolute value by the final stock price in the earnings capitalization model, book value model, and residual income valuation models which were used by precedence research were added.Vuong test compared the stock price explanation power of earnings capitalization model of 23 U.S. GAAP reporters (14 Japanese companies are included) and 63 U.S. GAAP reconcilers (5 IFRS application companies, 58 its native country GAAP application companies), the book value model, and residual income model. Although the ranking and of dominance of book value model and earnings capitalization model differed from precedence research, the stock price explanation power of the residual income model was most excellent. The explanation power of the U.S. GAAP repoters endured it of the U.S. GAAP reconcilers. According to Vuong test, the contents of an increment information of the U.S. GAAP earnings adjustment difference variable were not checked, but the significant relation was found out between the U.S. GAAP earnings adjustment difference variable and the stock price(5% level). The result of research about these was announced in Accounting, Vol.172, No.2 (August, 2007).