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《Accounting Research》 2019-05
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Research on the Influence of Fair Value Measurement Model of Investment Real Estate on Enterprise Debt Financing Risk ——An Empirical Test Based on the Data of China's A-share Real Estate Listed Companies from 2009 to 2016

Zhou Hong;  
At present,the investment real estate is the only project that applies the fair value measurement to non-financial assets in China's accounting standards.Enterprises have the right to independently choose the measurement mode of the investment real estate,so the selection of the measurement mode of the investment real estate is very special.As a capital-intensive industry,debt financing plays a key role in the development of real estate enterprises and is also an important link to prevent risks.This paper empirically examines the relationship between the fair value measurement model of investment real estate and corporate debt financing risk of listed companies in China,and finds that adopting the fair value measurement model in investment real estate can reduce the debt financing risk of enterprises.Meanwhile,for enterprises with different property rights,the fair value measurement mode of investment real estate has different influences on state-owned enterprises and private enterprises,that is,the debt financing risk of private enterprises is more influential than that of state-owned enterprises.
【Fund】: 国家自然科学基金(71372190);; 国家社会科学基金(15ZDB137)的资助
【CateGory Index】: F299.233.42;F832.51
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