会计稳健性、信息披露质量与投资不足的关系研究——基于我国A股上市公司的实证研究  

Accounting Conservatism, Information Disclosure Quality and Underinvestment——An empirical study of A-share listed companies in China

作　　者：胡妙迪 邹能锋[1] HU Miao-di;ZOU Neng-feng(College of Economics and Management,Anhui Agricultural University,Hefei 230036,China)

机构地区：[1]安徽农业大学经济管理学院

出　　处：《西安建筑科技大学学报（社会科学版）》2019年第5期76-82,共7页Journal of Xi'an University of Architecture & Technology(Social Science Edition)

摘　　要：选取2013—2017年我国A股上市公司为研究样本,在Basu构建的会计稳健性模型和Richardson构建的投资效率模型基础上,从信息披露质量的视角,实证检验了会计稳健性对企业投资不足的影响。结果表明,会计稳健性能够有效地抑制企业的投资不足现象;研究进一步地将投资不足样本按企业产权属性分为国有企业组和非国有企业组,并将两组进行比较分析,发现在非国有企业组中会计稳健性对投资不足的抑制效果更为显著;同时在加入信息披露质量这一调节变量后,会计稳健性对投资不足的抑制作用得到加强,可以得出会计稳健性与信息披露质量两者在对投资不足的抑制作用上存在着互补关系。Based on Basu model of accounting conservatism and Richardson model of investment efficiency the paper takes Chinese A-share listed companies over the period of 2013 to 2017 as samples and empirically tests the effects of accounting conservatism on the underinvestment of enterprises from the perspective of information disclosure quality.The findings indicate that accounting conservatism can effectively restrain the phenomenon of underinvestment.By comparing the underinvestment samples which are divided into state-owned group and non-state-owned group,the paper finds that accounting conservatism has a more obvious restraining effect on the underinvestment in non-state-owned group,and the effect has been strengthened when adding information disclosure quality as the regulate variable.Therefore,there is a complementary relationship between accounting conservatism and information disclosure quality in restraining the underinvestment.

关 键 词：会计稳健性 信息披露质量 投资不足 国有企业 非国有企业 

分 类 号：F235[经济管理—会计学]