财务重述与债务融资的实证研究——来自中国资本市场的证据  

An Empirical Research of Financial Restatement and Debt Financing:The Evidence from China's Capital Market

作　　者：李红梅[1] 韩庆兰[1] 

机构地区：[1]中南大学商学院,湖南长沙410083

出　　处：《预测》2013年第3期39-45,共7页Forecasting

基　　金：教育部人文社会科学研究青年基金资助项目(11YJC790247)

摘　　要：针对上市公司发布财务重述公告是否会影响企业债务筹资规模,以及财务重述公告对历史财务报告修正的幅度对债务筹资规模的影响问题,本文以2008～2010年间沪深两市A股主板发布财务重述公告的企业为研究样本,选取配对样本,进行回归分析。结果表明财务重述企业债务筹资规模显著减少,财务重述项目数、相对重述调整金额与债务筹资额负相关。Two questions are studied in this paper.One is whether the financial restatement announcement issued by a listed company will affect its amount of debt financing,and the other is whether the degree of financial restatement announcement revising historical financial report will affect the amount of debt financing.We did linear regression by sampling all Chinese firms listed in A share market that have issued financial restatement announcement during a period of 2008 to 2010.The findings suggest that,firms that have restated their financial statements have a less amount of debt financing;while the number of financial restatement terms and the amount of relative restatement adjustment are negatively correlated with the amount of debt financing.

关 键 词：财务重述 债务融资 线性回归 

分 类 号：F231[经济管理—会计学]