This paper collected the data of A shares from 1995 to 2005 listed on Shanghai and Shenzhen Stock Exchange to test the book-to-market effect, and provided explanation of its effect based on limited arbitrage.

Research on relationship between paper profit and operating cash flow——an empirical analysis based on listed companies in metal/nonmetal industries;

This form,which consists of the original book value of assets,the relative taxes for the realization of a transaction and the rights or obligations of possible transactions,differentiate from other value forms which the accounting theory has explained.

7-Exchange of non-monetary assets prescribes: An assets value would be divided into fair value and book value in the light of business nature.

This paper,based on analyzing the causes of the deviation between the book value and the actual market value,puts forward some effective methods of letting the financial report users know the actual value of the real estate.

According to the rule of permanent assets, the permanent assets terminal of an enterprise should be computed based on the lower side between account value and withdrawn fund.

Size and Book-to-Market Factors in Earnings:Evidence from the Chinese Listed Companies;

Meanwhile,this paper suggests that size and B/M factors in Fama-French(1992)significantly outperform CAPM-β in explaining the cross-sectional variation of P/E ratios.