会计弹性视角下盈余管理与我国上市公司投资效率关系的实证研究——来自于深沪两市A股上市公司的证据  

The Study of the Relationship Between Earnings Management and the Investment Efficiency of China's Listed Corporation——Empirical Evidence from the A-share Listed Companies

作　　者：刘斌[1] 张倩[1] 王雷[1] 

机构地区：[1]重庆大学经济与管理学院,重庆400054

出　　处：《中国软科学》2015年第10期111-124,共14页China Soft Science

基　　金：国家自然科学基金项目(71372138)

摘　　要：从会计弹性下的投资效率为视角,利用我国上市公司为样本对二者进行了实证检验。结果发现:投资不足(过度)时,会计弹性与投资效率负相关,并可一定程度的改善上述非效率投资;会计弹性对非投资效率的影响与市场反应正相关。该结论丰富了会计弹性视角下投资效率的相关文献,为合理投资决策与优化资源配置提供了理论依据。This paper focuses on the investment efficiency criterion of elasticity, using China＇s listed corporation as a sample of the empirical test. The results show that ： when the investment is insufficient （ or over）, the accounting elasticity is negatively correlated with the investment efficiency, and can improve the non efficiency investment in a certain extent. This conclusion enriches the relevant literature on the investment efficiency of the accounting flexibility, and provides a theoretical basis for the rational investment decision and the optimization of resource allocation.

关 键 词：会计弹性 投资不足 投资过度 市场反应 

分 类 号：F270[经济管理—企业管理]