关键词: 公允价值,价值相关性,董事会独立性,计量属性

Abstract: Based on the samples from China’s security markets of 1203 non-financial listed companies from 2007 to 2010 with fair value accounting information available, this paper examines whether the fair value measurement has value relevance and how the board independence influences the value relevance of the fair value measurement. The results indicate that the fair value measurement has more value relevance than the historic cost measurement, this can be seen more obvious from the items on the profit statement; the board independence has a significant positive effect on the value relevance of fair value measurements. This proves the effectiveness of board independence as a mechanism controlling the fair value information in the context of China’s security markets.

Key words: fair value; value relevance; board independence; measurement attributes