借助双重差分法，利用我国高新技术行业上市公司2003－2013年平衡面板数据，以同期传统制造行业上市公司作为控制组分离研发会计处理变革以外其它同期事件的影响，研究了研发会计处理由费用化到有条件资本化变革对改善高新技术企业损益信息与资产信息在外部定价中的作用。结果发现，研发资本化能够显著改善高新行业损益信息与资产信息的价值相关性。研究结论可为政策制定者评估研发准则质量与执行效果提供直接依据，研究方法可为未来研究其它具体会计准则的变革影响提供启示。%By using differences in difference ,the balanced panel data from 2003 to 2013 of high -tech industry listing Com‐panies in China and the same period data from traditional manufacturing industry listing Companies as untreated group ,we studied w hether the R&D treatment from "total expense"to "conditional capitalization"can improve the value relevance of high -tech industry .We found that the value relevance of R & D capitalization can significantly improve the value rele‐vance of high -tech industry profit & loss information and asset information .The finding of this research can provide the direct evidence for policy makers to assess the quality and effect of the R&D accounting treatment evolution ,and the re‐search methods of this study can give the inspiration for the future study of other specific accounting standards evolution .
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