危机冲击、会计稳健性与债务资源配置  

The Impact of Crisis,Accounting Conservatism and Debt Resource Allocation

作　　者：曾爱民[1] 冷虹雨 魏志华[3] ZENG Ai-min LENG Hong-yu WEI Zhi-hua(School of Accounting, Zhejiang Gongshang University, Hangzhou 310018, China Department of Port and Shipping Management, Shandong Maritime Vocational College, Weifang 261108, China School of Economics, Xiamen University, Xiamen 361005, China)

机构地区：[1]浙江工商大学财务与会计学院,浙江杭州310018 [2]山东海事职业学院港航管理系,山东潍坊261108 [3]厦门大学经济学院,福建厦门361005

出　　处：《商业经济与管理》2016年第12期62-72,共11页Journal of Business Economics

基　　金：教育部规划基金项目(15YJA630093);浙江省自然科学基金面上项目(LY15G020002);国家自然科学基金项目(71572165;71502166;71272011);国家社科基金重点项目(13AGL002);浙江省高校社科重点研究基地(浙江工商大学工商管理学科)重点项目资助(JYTgs20151301)

摘　　要：针对有关会计稳健性是否应作为一项会计信息质量特征的理论争议,文章从决策有用性的财务会计基本目标出发,以2008年金融危机为冲击事件实证检验了在危机环境中会计稳健性对债务资源配置的影响。结果表明与危机前相比,在金融危机期间会计稳健性不仅能引导债务资源的配置方向,而且能显著提高债务资源的配置效率。同时在考虑到我国特殊产权制度因素后进一步研究发现,相对于国有企业,稳健性对债务资源配置的影响在民营企业中表现得更加显著。文章研究从债务资源配置方向和配置效率两方面丰富了会计稳健性的债务契约理论,支持了会计稳健性作为一项会计信息质量特征的必要性,也对银行等金融机构的债务资源配置决策具有重要指导意义。Whether accounting conservatism should be retained as a characteristic of accounting information is a long disputed theoretical topic. To shed some lights on it, this paper conducts empirical studies on how accounting conservatism affects the allocation of debt resources when impacted by a substantial negative crisis event, taking the 2008 global financial crisis as an example. The results show that accounting conservatism can not only guide the direction of, but also optimize the efficiency of the allocation of debt resources significantly during the financial crisis period, compared with the pre-crisis period. Moreover, taking the special property institution of China into considerations, further studies demonstrate that the effects of accounting conservatism on private enterprises are more pronounced than on state-owned companies. This study enriches the debt covenants theory on accounting conservatism both from the perspective of allocation direction and allocation efficiency of debt resources, which strongly support the necessity of viewing the accounting conservatism as a characteristic of accounting information. It also provides useful guidance to decision-making of debt resource allocation for banks and other financial institutions.

关 键 词：金融危机 会计稳健性 债务资源配置 产权性质 

分 类 号：F234.4[经济管理—会计学]