随着我国向市场与知识经济的转型不断深化,无形资产(如R&D)在社会经济中的重要作用日益凸显。无形资产的信息披露便成为资本市场机构投资者、信息中介、以及评估机构所关注的重点。本文将对目前国内外有关R&D信息披露各价值相关性研究动态进行理论分析,包括研发信息披露动机及现状、研发信息在资本市场的价值相关性与其披露的市场认可度。 With the deepening transition of our country to the market and knowledge economy, the important role of intangible assets (such as R & D) in the social economy has become increasingly prominent. Information disclosure of intangible assets has become the focus of capital market institutional investors, information intermediaries, and assessment agencies. This article will make a theoretical analysis of the current research on the value relevance of R & D information disclosure at home and abroad, including the motivation and current status of R & D information disclosure, the value relevance of R & D information in capital markets and market acceptance of disclosure.