会计信息质量与过度投资的关系研究  

Research on the Relation between Accounting Information Quality and Over-investment

作　　者：袁建国[1] 蒋瑜峰[1] 蔡艳芳[1] 

机构地区：[1]华中科技大学管理学院

出　　处：《管理学报》2009年第3期367-372,共6页Chinese Journal of Management

基　　金：教育部人文社会科学研究规划基金资助项目(08JA790051)

摘　　要：以我国2004-2006年制造业上市公司的数据为样本，对会计信息质量和企业过度投资的关系进行了实证研究。结果发现：会计信息质量与企业过度投资存在显著负相关，提高会计信息质量可以抑制企业的过度投资行为；在自由现金流量较多的上市公司中，会计信息质量与过度投资呈现出更强的负相关，提高会计信息质量能对该类企业的过度投资产生更大的治理效应。这为我国治理企业过度投资提供了新的路径。Taken the data from listed companies of manufacturing industry in China during 2004 -2006 as a sample, the relation between accounting information quality and over-investment was studied empirically. It is found that accounting information quality is negatively corrected with firm over- investment and high quality accounting information can prevent over-investment. Further, accounting information quality is more closely associated with over-investment for firms with more free cash flow, which implicates that improving quality of accounting information could prevent over-investment of these firms.

关 键 词：会计信息质量 自由现金流量 过度投资 

分 类 号：F234.3[经济管理—会计学]