机构投资者持股能提高会计信息可比性吗?  

Can Institutional Ownership Improve Accounting Comparability of Listed Companies?

作　　者：孙光国[1] 杨金凤[1,2] SUN Guangguo YANG Jinfeng(School of Accounting, Dongbei University of Finance and Economics, Dalian 116025, China School of Accounting, Shandong Technology and Business University, Yantai 264005, China)

机构地区：[1]东北财经大学会计学院,辽宁大连116025 [2]山东工商学院会计学院,山东烟台264005

出　　处：《财经论丛》2017年第8期65-74,共10页Collected Essays on Finance and Economics

基　　金：国家自然科学基金资助项目(71272051);山东省社科规划基金资助项目(15CGLJ22);山东工商学院青年科研基金资助项目(2015QN010)

摘　　要：本文针对机构投资者如何影响会计信息可比性以及产生影响的渠道和路径展开研究。研究发现:首先,机构投资者持股能够提升会计信息可比性,对投资者保护有积极作用。其次,将机构投资者细分为交易型机构投资者和稳定型机构投资者,前者对会计信息可比性有显著影响,而后者的影响并不显著,表明机构投资者主要通过发挥信息中介效应影响可比性。最后,在控制盈余管理的因素后,机构投资者持股仍对会计信息可比性有直接影响。This paper investigates how the institutional ownership affects accounting comparability and further explores the specific channel and path. Firstly,the paper finds that institutional ownership could improve accounting comparability and has a positive effect on investor＇s protection. Secondly,after dividing institutional investors into trading institutional investors and stable institutional investors,the paper finds that the former has a significant impact on accounting comparability,whereas the latter has no significant impact,which indicates that accounting comparability is mainly influenced by institutional investors through information intermediary effect. Finally,after controlling earning management factors,the paper discovers that the institutional ownership still has direct influence on comparability.

关 键 词：机构投资者 会计信息可比性 投资者保护 

分 类 号：F234.4[经济管理—会计学]