保险业的审慎监管与会计稳健性——来自国际非寿险公司的经验证据  

Prudential Supervision and Accounting Soundness of Insurance Industry:Evidence from International Non-life Insurance Companies

作　　者：彭玉龙[1] 李荣林[1] 

机构地区：[1]上海财经大学会计学院,上海200433

出　　处：《金融研究》2007年第01A期175-190,共16页Journal of Financial Research

摘　　要：Watts(2003)认为契约需求是导致会计稳健性的主要原因,但难以找到直接的经验证据。保险业的特点和审慎监管为直接检验这一契约解释提供了难得的机会。本文设计了“准备金——赔付支出”回归模型,作为衡量非寿险公司会计稳健性的基本方法,通过对美国非寿险公司法定财务报表与全球非寿险上市公司通用财务报表的比较研究,发现审慎监管下的法定财务报表更及时地反映了坏消息,具有稳健性,而通用财务报表存在利润平滑行为。这一发现支持了会计稳健性的契约解释,为了解保险公司在不同激励约束条件下的会计行为特征提供了经验证据。Watts （2003） regards contracting, as the prime explanation for accounting conservatism, but it is difficult to find direct empirical evidence. The characteristics and prudential supervision of insurance companies provide a good chance to test contracting explanation. This paper uses a ＂reserve -claims＂ model as a basic method to measure the accounting conservatism of non - life insurance companies. Through the comparison of statuary financial reports of non - life insurance companies in U.S. and common - purpose financial reports of listed non -life insurance companies around the world, we find statuary financial reports under prudential supervision respond to ＂bad news＂ faster, verifying conservatism, but common -purpose financial reports demonstrate earning - smoothing. The conclusion of further test using auto - regression of earning is similar. As a whole, this finding supports contracting explanation of accounting conservatism and provides evidence for understanding the accounting behaviors of insurance companies under different incentives and constraints.

关 键 词：保险 审慎监管 会计稳健性 国际证据 

分 类 号：F841.3[经济管理—保险] F233