CIRJE-J-139 『特別法上の準備金のValue Relevance』
"Value Relevance of Legally Mandated Provisions"
Author Name 大日方隆(Takashi Obinata)
Date September 2005
Full Paper PDF file (only Japanese version available)
Abstract (Japanese) Abstract (English)

この論文の目的は、準備金の繰入や取崩は利益のrelevance にどのような影響をあたえて いるのか,すなわち,準備金のvalue relevance を検証することである。この研究の実証結果 は,特別法上の準備金の繰入と取崩が,人工的(artificial)あるいは機械的(mechanical)に 利益を平準化する傾向が強いときには,利益のvalue relevance を低下させることを示してい る。ただし,鉄道業の特定都市鉄道整備準備金は営業収益の期間配分手段として,保険業 の責任準備金は営業費用の期間配分手段として機能し,純利益のrelevance を高めている可 能性もある。特別法上の準備金というだけで引当金に比べて差別的な扱いをすることはで きず,むしろ,引当金も準備金も,貸借対照表の計上区分,損益計算書上の繰入額の測定 にかんして検討課題を残している。

The purpose of this paper is to investigate the value relevance of the legally mandated provisions. This paper examines the effects of changes in provisions on the value relevance of earnings. The results show that the calculation of provisions will deteriorate the relevance of earnings when the changes in provisions may artificially and mechanically smooth earnings. However, the provision for railroad maintenance functions as a allocation method of operating revenues and the provision for insurance payment functions as a allocation method of operating expenses. These provisions seem to improve the value relevance of earnings. Therefore, we cannot discriminate against the legally mandated provisions for the very reason that their calculation is formally restricted. Whether provision is legally mandated or not, we still have many unresolved problems about provisions on the disclosure in the balance sheet and on the calculation in the income statement.