内部控制缺陷披露如何影响资本市场应计异象?  

How does Disclosure of Internal Control Weakness Affect Accrual Anomaly of the Capital Market?

作　　者：孙孟杰 王生年[1,2] SUN Mengjie;WANG Shengnian(School of Economics and Management,Shihezi University,Shihezi 832003,China;Research Center of Corporate Governance and Management Innovation,Shihezi University,Shihezi 832003,China)

机构地区：[1]石河子大学经济与管理学院,新疆石河子832003 [2]石河子大学公司治理与管理创新研究中心,新疆石河子832003

出　　处：《南京审计大学学报》2023年第6期81-90,共10页Journal of Nanjing Audit University

基　　金：国家自然科学基金项目(71862029);2023年兵团研究生创新项目。

摘　　要：基于应计异象视角,利用2012—2020年A股上市公司数据,深入研究内部控制缺陷披露对会计信息定价效率的影响。结果表明,内部控制缺陷披露能够显著缓解A股市场应计异象。进一步分解应计盈余发现,内部控制缺陷披露缓解了投资增长导致的应计异象,对盈余管理导致的应计异象加剧作用不显著,整体表现为缓解作用。机制检验发现,内部控制缺陷披露的监督治理效应发挥了主要作用,提高了治理水平,缓解了应计异象,高行业内部控制缺陷披露削弱了其缓解作用,内控监管环境的严格强化了两者的关系,缺陷整改信息披露未能引起两者关系的变化。Based on the accrual anomaly perspective,using the data of A-share listed companies from 2012 to 2020,the impact of internal control defects disclosure on the pricing efficiency of accounting information is studied in depth.The results show that internal control weakness disclosure can significantly mitigate the accrual anomaly in the A-share market.Further decomposition of accrual earning finds that internal control weakness disclosure mitigates the accrual anomaly caused by investment growth,has a non-significant effect on the exacerbation of accrual anomaly caused by earning management,and exhibits an overall mitigating effect.Mechanism tests find that the supervisory governance effect of internal control weakness disclosure plays a major role in improving governance and mitigating accrual anomalies,and that internal control weakness disclosure in high-industry weakens both,but that the stringency of the internal control regulatory environment strengthens the relationship,and that the disclosure of defect rectification information fails to cause a change in the relationship.

关 键 词：内部控制缺陷 信息披露 盈余管理 投资增长 应计异象 监管环境 资本市场 

分 类 号：F275.5[经济管理—企业管理] F832.5[经济管理—国民经济]