Accelerating the cultivation of new quality productive forces is both an urgent requirement of the current economic situation in China and a key measure for promoting high-quality economic development. As the main battlefield for technological innovation, enterprises play an important role in developing new quality productive forces, promoting new business formats, and creating new industries. Currently, more and more enterprises are investing heavily in new technologies, new businesses, and new models. However, the large amount of implicit resources generated cannot be listed as assets, while the expenses for innovation are directly recorded in accounting reports. This causes accounting earnings information under traditional standards to be inconsistent with the actual situation of enterprises, making it necessary to improve accounting earnings disclosure as the basis for stakeholders’ judgments and decisions. Empirical testing shows that, from the perspective of developing new quality productive forces, the persistence and predictability of earnings information (CAS earnings) with the current accounting standards are not ideal, and fail to capture the incremental information about the future performance improvements of enterprises with a higher level of new quality productive forces development. Further adjustments to temporary items related to the development of new quality productive forces are made based on CAS earnings, resulting in the design of Non-CAS earnings. The study finds that for enterprises with a higher level of new quality productive forces development, Non-CAS earnings exhibit better persistence and predictability, including incremental information. This effect is more significant for innovative enterprises in non-mainboard markets, such as ChiNext Market and STAR Market. Furthermore, in terms of stock pricing, Non-CAS earnings also play a better pricing role. Based on the empirical findings, this paper argues that it is necessary to improve the current accounting earnings disclosure system, allowing listed companies to voluntarily disclose Non-CAS earnings. This will provide a more comprehensive decision-making reference for various users of accounting information and enable accounting information to better serve the demands of the era in developing new quality productive forces.

Journal of Shanghai University of Finance and Economics
LiuYuanchun, Editor-in-Chief
ZhengChunrong, Vice Executive Editor-in-Chief
GuoChanglin YanJinqiang WangWenbin WuWenfang, Vice Editor-in-Chief
Improvement of Accounting Earnings Disclosure from the Perspective of New Quality Productive Forces Development: An Empirical Test Based on the Functions of CAS Earnings and Non-CAS Earnings
Journal of Shanghai University of Finance and Economics Vol. 27, Issue 02, pp. 50 - 63 (2025) DOI:10.16538/j.cnki.jsufe.2025.02.004
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Wang Xia, Li Taimin, Wu Jiaqi. Improvement of Accounting Earnings Disclosure from the Perspective of New Quality Productive Forces Development: An Empirical Test Based on the Functions of CAS Earnings and Non-CAS Earnings[J]. Journal of Shanghai University of Finance and Economics, 2025, 27(2): 50-63.
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