中文摘要：

决策有用性是当前被普遍认同的会计目标。本文结合我国近年关于投资人会计信息需求的研究成果，借鉴心理学对投资者认知能力的认识，研究了其在利用会计信息进行决策的过程中，不同投资心态对会计信息需求的影响，为相关性研究提供一个新视角。本文发现，当投资者处在一个令其产生冒险心态的市场中时，便会关注企业的盈利能力，而且认定历史会重演；而在一个令其产生保守心态的市场中时，便会关注企业的净资产，对未来的估计并不乐观。

英文摘要：

In current accounting researches, the deClslon-usefulness of accounting information is widely acknowledged as the accounting object; however, most researches focus on the concepts of reliability, relevance and comparability, and the discussion of their relationships. They are lack of the support of research data, Besides, these researches ignore the cognitive ability of the most important users of accounting information--the investors, This paper integrates the recent research results about the investors＇ needs of accounting information and the understanding of investors＇ cognition in psychology, discusses the ways that investors use accounting information to make decisions, and analyzes the effects of different states of mentation on the investors＇ decision models. As the viewpoint of behavior economic research, there is no essential difference between the cognitive ability of institutional investors and individual investors. They are both less than perfectly rational. Their decisions are highly efficient influenced by their mentation. The authers of this article discover that the investors＇ needs of accounting information are not stationary： when an investor is in a market that encourages him/her to take risk, he/she would focus on the earning ability of an enterprise, and would be more likely to believe that history would repeat itself; when an investor is in a market that discourages him/her to take risk, he/she would focus on the net assets of an enterprise, and would make pessimistic estimates of the future. This discover will provide a new angle of view to the research on the relevance of accounting information. And this will help us to understand the decision process of the investors.