会计稳健性、高管团队特征与债务成本关系研究  

A study on the relationship between accounting conservatism,top management team characteristics and debt cost

作　　者：张丽琨[1,2] 姚梅芳[1] Zhang Likun Yao Meifang

机构地区：[1]吉林大学管理学院,130118 [2]吉林农业大学经济管理学院,130022

出　　处：《南方经济》2016年第9期91-107,共17页South China Journal of Economics

基　　金：国家自然科学基金项目(项目编号:71372077)的阶段性研究成果;吉林省教育厅“十三五”社会科学研究项目(项目编号:2016136):《高管团队视角下企业会计稳健性问题研究》的阶段性成果

摘　　要：文章选取2014年部分A股上市公司为研究样本,检验了会计稳健性对企业债务成本的影响,以及高管团队平均和异质性结构对二者关系的影响。研究结果表明,会计稳健性与债务成本负相关,公司会计稳健性越强,债权人所要求的补偿越低,公司债务成本越低;高管团队平均年龄、平均教育水平、男性占比、年龄异质性和教育水平异质性显著影响会计稳健性与债务成本的关系。文章的研究结论有利于从高管团队建设的视角,选择合理的会计稳健性政策,降低企业的债务融资成本。This article use A shares of listing Corporation in 2014 as samples, confirm the influence of accounting conservatism on company debt cost, as well as the impact of top management team average and heterogeneity structure on the relationship between the two. Study shows that accounting conservatism and the cost of debt is negatively related; the stronger the accounting conservatism the lower of debt cost; the average age, average level of education, the male accounted ratio, age heterogeneity and education level heterogeneity of TMT has a significant effect on the relationship between Accounting Conservatism and the cost of debt. Help select a reasonable accounting conservatism policy to reduce debt cost, from the perspective of TMT construction.

关 键 词：高管团队异质性结构 高管团队平均结构 会计稳健性 债务成本 

分 类 号：F275[经济管理—企业管理]