【摘要】 基于2007—2010年持有商誉的A股上市公司数据,采用实证研究的方法,检验了合并商誉与企业盈利能力和股价的相关性。实证研究结果表明,我国上市公司确认的合并商誉资产与企业盈利能力和股价显著正相关,说明我国财务报表披露的合并商誉信息为投资者提供了决策相关信息,具有较高信息含量,体现了其超额收益的本质。更多还原

【Abstract】 With the empirical research method,this paper examines the value relevance of consolidated goodwill on the profitability and stock prices based on the data of the A-share listed companies with goodwill from 2007 to 2010.The empirical result shows that consolidated goodwill has a significantly positive correlation with profitability and stock prices.This illustrates that the consolidated goodwill information disclosed by China’s financial statements can provide the related information for investors’ decision-making.The consolidated goodwill is informative in content and reflects its essence of excess returns.更多还原