有效市场假设是众多实证会计研究的重要基础。在信息有效的市场条件下,股票价格是公司权益价值的无偏估计。在关于会计数据和相关公告的信息含量研究中,通常观察在该事件日附近市场回报的异常波动为研究目标。以此说明该事件的信息含量。与此类似,在会计数据的价值相关性中,通常也是以该会计数据是否与股票价格或回报率相关和是否能增强对股票价格或回报率 Efficient market assumptions are the important basis for many empirical accounting research. Under the condition of effective information market, the stock price is an unbiased estimate of the value of the company’s equity. In the research on the information content of accounting data and related announcements, it is generally observed that abnormal fluctuations in market returns near the event day are the research objectives. In order to explain the information content of the incident. Similarly, it is often also the case whether the accounting data is correlated with the stock price or the return on the value relevance of the accounting data and whether it is possible to enhance the effect on the stock price or the rate of return