会计信息质量对股价崩盘风险的影响研究  

Research on the Influence of Accounting Information Quality on Stock Price Crash Risk

作　　者：郭潇姣 贺炳旭 冯来强[1] GUO Xiaojiao;HE Bingxu;FENG Laiqiang(Jishou University,Jishou 416000,Hunan,China)

机构地区：[1]吉首大学,湖南吉首416000

出　　处：《科技和产业》2024年第2期117-123,共7页Science Technology and Industry

基　　金：湖南省会计学会科研重点项目(2022HNKJA08);湖南省审计厅立项(23SJYB0301)。

摘　　要：以2017—2021年中国上市公司为研究样本,探究会计信息质量对公司股价崩盘风险的影响。研究发现,会计信息质量越高,公司所面临的股价崩盘风险就越低。主要通过降低公司内部人与外部投资者之间的信息不对称程度,缓解了管理者对外隐瞒坏消息的倾向降低股价泡沫发生的可能性。从管理者代理的视角出发,发现管理费用越高,会计信息质量对股价崩盘风险的抑制作用越显著。Takeing Chinese listed companies from 2017 to 2021 as research samples,the impact of accounting information quality on the company’s stock price crash risk was explored.It is found that the higher the quality of accounting information,the lower the risk of stock price collapse faced by the company.Mainly by reducing the degree of information asymmetry between company insiders and external investors,it alleviates the tendency of managers to hide bad news and reduces the possibility of stock price bubbles.From the perspective of management agent,it is found that the higher the management cost is,the more significant the inhibition effect of accounting information quality on stock price crash risk is.

关 键 词：会计信息质量 股价崩盘风险 信息不对称性 委托代理 

分 类 号：F832.5[经济管理—金融学]