非条件稳健性、条件稳健性与企业投资效率  

Unconditional Conservatism,Conditional Conservatism and Enterprise Investment Efficiency

作　　者：罗斌元[1] 

机构地区：[1]河南理工大学经济管理学院,河南焦作454000

出　　处：《中南财经政法大学学报》2014年第2期119-127,160,共9页Journal of Zhongnan University of Economics and Law

基　　金：河南理工大学博士基金项目"经济区域视角下的企业投资行为优化路径研究--以中原经济区为例"(SKB2013-07);河南理工大学人文社科应用对策专项"郑州航空经济示范区建设研究"(SKDC2013-09)

摘　　要：本文将会计稳健性分为非条件稳健性和条件稳健性,深入阐述这两种稳健性对企业投资效率的作用机理,并以此作为实证研究假设,实证检验这种作用机理,研究发现:条件稳健性是通过融资约束和代理问题这两种渠道作用于企业投资效率的;条件稳健性确实能够提高企业投资效率,而非条件稳健性却降低了企业投资效率;公司面临的融资约束程度越严重,条件稳健性对企业投资效率的提高作用越明显;公司代理问题越严重,条件稳健性对企业投资效率的提高作用也越明显。This paper divides accounting conservatism into unconditional and conditional conservatism,and further elaborates the function mechanism of two kinds of conservatism on the enterprise investment efficiency,which is the empirical research hypothesis,and then empirically tests the function mechanism.The study shows that accounting conservatism affects enterprise investment efficiency through two channels:financing constraints and agency.Conditional conservatism can really improve the enterprise investment efficiency,while unconditional conservatism has no significant effect.The higher degree of financing constraints companies confront,the more obvious conditional conservatism on the investment efficiency is.The more serious the agency problem is,the more obvious the improving effect of conditional conservatism on the investment efficiency is.

关 键 词：会计稳健性 条件稳健性 非条件稳健性 融资约束 代理问题 

分 类 号：F234.4[经济管理—会计学]