Study on Accounting Information Value in Segmented Capital Markets

摘要

The paper studies on whether the accounting information disclosed in Mainland Hong Kong by dual listing companies transfers between in segmented capital market and which accounting information provides valuable information to investors.The analysis proves that there are somewhat irrational factors in A-share market,investors from Mainland and Hong Kong have preference for large company's stocks,state-hold share is one of the most inportant factors in choosing stocks,the adjusted accounting profits according ti Mainland and Hong Kong accounting principles can not provide useful information to investors,and the segmentation effect between Mainland and Hong Kong capital markets is very prominent.