机构投资者、政府治理与会计盈余的持续性——来自我国沪深A股上市公司的经验证据  

Institutional Investors,Government Governance and the Persistence of the Accounting Earnings

作　　者：罗劲博[1] 

机构地区：[1]江西财经大学会计学院

出　　处：《财会通讯（下）》2016年第4期3-7,共5页Communication of Finance and Accounting

基　　金：国家自然科学基金青年项目(项目编号:71202061)的资助

摘　　要：本文利用我国沪深A股市场上市公司机构投资者持股的企业样本,以及王小鲁、余静文和樊纲(2013)所做的中国分省经营环境大规模调查数据,分析了机构投资者对公司会计盈余持续性的影响,并考察了政府治理的作用和机制。研究表明:机构投资者提高了会计盈余的持续性,进一步发现公司所在地的政府治理会强化机构投资者持股对会计盈余持续性的影响,上述效应仅在机构投资者持股高的公司和民营企业更为显著。本文的研究有助于认识在新一届政府简政放权和提高政府效率的背景下,政府治理行为对微观市场机构投资者的行为以及会计盈余信息持续性的影响机制。Based on the Shanghai and Shenzhen A-share listed about the institutional investor shareholding enterprise samplesin our country as well as Wang Xiaolu,Yu Jingwen and Fan Gang(2013)of the mass survey data about the province of the China enterprise environment.We havestudied the influence of institutional investors on the company's accounting earningspersistence,and have investigated the function and mechanism of governance among them.The result have been showed that institutional investors can improve the accounting earnings persistence,Further it have been found that the government governance will strengthen institutional investors holding on the accounting earnings persistence,And the effect are significant only in the institutional investor shareholding companies and private enterprises.Under the background of the New Government improving efficiency and decentralization,this paper will helps to know that the government governance will influence the micro market institutional investors behavior and accounting earnings persistence mechanism.

关 键 词：机构投资者 会计盈余持续性 政府治理 公司治理 

分 类 号：F275[经济管理—企业管理] F832.51[经济管理—国民经济]