异质性、机构投资者与会计稳健性  

Heterogeneity,Institutional Investors and Accounting Conservatism

作　　者：陈爱华[1] 

机构地区：[1]厦门国家会计学院,福建厦门361005

出　　处：《审计与经济研究》2014年第6期75-82,共8页Journal of Audit & Economics

基　　金：教育部人文社会科学重点研究基地重大项目(11JJD790006);教育部人文社会科学基金项目(13YJC630019);福建省社会科学规划项目(2013B057)

摘　　要：以2000—2011年沪深A股上市公司为样本,基于企业本身和市场异质性的视角,考察机构投资者持股对会计稳健性的影响,结果发现:机构投资者持股比例的提升会导致企业会计稳健性的下降,在国有企业、成长性较好的企业中这种负向关系增强了,而企业所处地区的市场化程度对机构投资者持股与会计稳健性之间的负向关系无显著影响,此外,相比"压力抵制型"机构投资者而言,"压力敏感型"机构投资者持股比例的上升导致会计稳健性下降更快。In this paper, we first use 2000--2011 A-share listed companies in Shanghai and Shenzhen Stock Exchange as a sample based on the heterogeneity of the enterprise itself and the market perspective, and then discuss the impact of institu- tional investors on accounting conservatism. The results show that institutional investors staking leads to a decline in account- ing conservatism in state-owned enterprises or companies with good growth, this negative relationship is strengthened and the degree of market-oriented enterprises in which areas makes no difference for institutional investors who hold shares and ac- counting conservatism. In addition, compared to ＂pressure-resisting＂ institutional investors, ＂pressure-sensitive＂ institutional investor ownership percentage increases will lead to a faster decline in accounting conservatism.

关 键 词：机构投资者持股比例 会计稳健性 异质性 企业成长性 市场化程度 权益投资者 财务报告稳健性 公司治理 

分 类 号：F234.4[经济管理—会计学]