市场化程度、盈余管理与银行贷款定价  

Market Development,Earnings Management and Loan Pricing

作　　者：卢闯[1] 郑微[1] 吴育新[1] 李珂[1] 陈含[1] 

机构地区：[1]中央财经大学会计学院,北京100081

出　　处：《科学决策》2010年第9期60-65,共6页Scientific Decision Making

基　　金：国家社会科学基金青年项目"中央企业的价值创造及社会贡献研究"(10CGL016);中央财经大学"211工程"三期;财政部全国会计领军(后备)人才培养项目

摘　　要：本文从盈余管理角度考察了财务报告质量对银行贷款定价的影响。研究发现,银行关注了企业报表中的盈余管理问题,盈余管理程度越高,企业获得的贷款利率越高;在市场化程度越高的地区,银行对企业盈余管理行为的识别能力越强。该研究结论不仅为会计信息的经济后果提供了经验证据,同时也暗示了债权人监督的有效性。This paper analyses how the quality of financial report, measured by earnings management, affect the pricing of bank loan. It reveals that banks can distinguish the quality of financial report effectively; and the extent of earnings management is posi- tively associated with the cost of bank loan, while the level of market development has a significantly effect on that association. The results not only provide new evidence on the economic consequences of accounting information, but also imply the effectiveness of creditors＇ supervision.

关 键 词：市场化程度 盈余管理 贷款定价 

分 类 号：F272[经济管理—企业管理]