政府财务信息披露、政府绩效与固定资产投资——基于沪深A股民营上市公司的实证研究  

Government Financial Information Disclosure,Government Performance and Investment in Fixed Assets:An Empirical Study Based on Shanghai and Shenzhen A-share Private Listed Companies

作　　者：王小宁[1] 杨鑫 

机构地区：[1]三峡大学经济与管理学院,宜昌443002

出　　处：《价值工程》2018年第5期241-245,共5页Value Engineering

摘　　要：改革开放以来,民营企业作为中国经济发展的中坚力量,其固定资产投资行为在很大程度会受到政治关系的影响,尤其是在"关系"盛行的中国。为了厘清政府财务信息披露质量、政府绩效与企业固定资产投资行为之间的关系,本文以2012—2015年中国31个省、自治区、直辖市的沪深A股民营上市公司按省份分类后作为研究样本,实证考察了政府财务信息披露、政府绩效与企业固定资产投资行为之间的关系,以及政府绩效对政府财务信息披露与企业固定资产投资之间关系的中介作用。研究发现,政府财务信息披露质量越高,政府绩效越好,政府财务信息披露质量与政府绩效水平呈正相关关系;政府绩效与固定资产投资显著相关,且绩效越好,固定资产投资越高;财务信息披露质量对固定资产投资呈正相关关系。Since the reform and opening up, private enterprises as the backbone of China's economic development, its fixed asset investment behavior to a large extent will be affected by political relations, especially in the "relationship" prevailing in China. In order to clarify the relationship between the quality of government financial information disclosure, the relationship between government performance and investment behavior of fixed assets, this paper divides the Shanghai and Shenzhen A-share private listed companies of 31 provinces,autonomous regions and municipalities directly under the Central Government as provincial samples by province. This paper examines the relationship between government financial information disclosure, government performance and firm investment in fixed assets, and the intermediary role of government performance on the relationship between government financial information disclosure and corporate fixed asset investment. The results show that the higher the quality of government financial information disclosure, the better the government performance, the quality of government financial information disclosure and government performance level is positively related; government performance and fixed asset investment significantly related, and the better performance, the higher the investment in fixed assets; the quality of information disclosure has a positive correlation with investment in fixed assets.

关 键 词：政府财务信息披露 政府绩效 固定资产投资 

分 类 号：D035[政治法律—政治学]